KR Motors Signs MOU with Two-Wheel Vehicle Rental Specialist Tayota for Future Growth

KR Motors announced on the 17th that it has signed a mutual business agreement (MOU) for a strategic partnership with TayoTa, a company specializing in two-wheeled vehicle rentals, and will enter the rental market using its own two-wheeled vehicles.

Two-wheeled vehicles are gaining attention in the delivery service market as various types of products such as leasing and rentals, and it is expected that KR Motors' verified models will give momentum to the projects they pursue.

The product prepared by KR Motors as a rental item is the K-WIN125, which became the company's bestseller immediately after its release in 2022. This product is an ADV-type flagship version equipped with the new Vi Core power platform, integrated electric hybrid technology, and an idle STOP & GO function. Above all, its outstanding design and reduced fatigue even after long hours of operation compared to regular scooters are its greatest advantages.

KR Motors plans to actively lead the spread of electric two-wheeled vehicles by selecting verified models centered on the independently developed electric two-wheeler, e-lution, through TayoTa, offering rental services without purchase burdens. It is analyzed that the high price of electric two-wheelers is a burden for purchase, and even with government subsidies, consumers have to bear about 1.5 to 3 million KRW, making it difficult to readily purchase despite lower maintenance costs compared to internal combustion engines.

However, using rental services without purchase burdens has the great advantage of no initial cost and access to expert maintenance and repair services during the rental period. Above all, the e-lution prepared by KR Motors for the rental business has performance equivalent to or exceeding that of internal combustion 125cc class vehicles, and especially among the Ministry of Environment’s subsidy-eligible items (electric two-wheelers), it shows outstanding performance and capabilities in power output and driving range, making it expected to attract attention in the rental market.

TayoTa, a specialist in two-wheeled vehicle rentals, already holds a solid position in the rental industry and plans to expand its business model from KR Motors’ core strategic products, internal combustion two-wheelers, to electric two-wheelers and electric two-wheeler battery stations. This is expected to act as a definite growth momentum and improve performance through external expansion between the two companies.

Ko Jae-cheol, CEO of KR Motors, said, “The delivery service market has rapidly grown after COVID-19, and unlike in the past, the rental market, which minimizes initial cost burdens while reducing the hassle of insurance and management, is growing rapidly every year. KR Motors’ entry into the rental business will be another solution for consumers who clearly understand the advantages and benefits of rental products, and we will continue to do our best to create better value by meeting the diverse needs of our customers.”