Peer-to-peer car-sharing company Turo is expanding to New York State and France in June, the company said Wednesday. The expansion comes at a time when post/mid-Covid tourism is starting to heat up, but renting a car will be difficult and expensive due to ongoing semiconductor shortages and supply chain issues.
Turo New York Launch Follows State Legislature Pass SB 6715 in December 2021, legislation was passed providing a regulatory framework for peer-to-peer car-sharing operations in the state. New York was the only state in the country where such a service was not available, so the bill’s signing means Turo is now available in all 50 states.
The company said potential hosts can start pre-registering cars on Wednesday, while guests who want to book on Turo can start from June 27.
Meanwhile in France, Turo has acquired French rival OuiCar, effectively opening up the French market and supporting broader expansion plans in Europe, the company said. Turo did not disclose the terms of the deal, but it is an acquisition that will initially include retaining the OuiCar brand before assimilating OuiCar under the Turo umbrella in the future.
In addition to the US and now France, Turo services are available in the UK and Canada. The company says it covers 8,000 cities as of March 31, with more than 2 million active guests and 217,000 active vehicles on the platform.
Turo previously also offered its services in Germany, after Daimler’s investment enabled the company to acquire the car-sharing subsidiary of automaker Croove. However, early in the pandemic Turo decided to curtail its operations in Germany to maintain the “long-term health of global business”.
Turo submitted for publication earlier this year on some mysterious terms. Turo did not then or now share information about the number of shares that will be offered in the IPO or the price range. The company also won’t share any news about its IPO process, but a company spokesperson told TechCrunch Turo that it’s monitoring the stock market to ensure a successful public debut.
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