Vay: The Future of Vehicle Mobility with Teleoperated Car-Sharing
Vay, a unique startup based in Berlin and Las Vegas, is revolutionizing the car-sharing industry with its teleoperated twist. Unlike traditional ride-hailing or car-sharing services, Vay’s vehicles arrive at your location without a human driver behind the wheel. How is this possible? Vay has developed teleoperations technology that allows employees to remotely pilot empty vehicles to customers. Once the vehicle arrives, the customer takes over manual control and drives themselves to their destination. This innovative approach is gaining traction and attracting attention from major players in the automotive industry.
Expanding into Commercial and B2B Services
Vay’s recent partnerships with French automaker Peugeot and Belgium-based car-sharing company Poppy have opened the doors to new opportunities. The startup is now expanding into commercial and business-to-business (B2B) services, aiming to become an industry leader in the teleoperated vehicle sector. Vay’s CEO, Thomas von der Ohe, envisions a future where any vehicle can be teledrive-enabled right off the production line. With the use of existing ADAS cameras, tele-driving technology becomes a cost-effective addition to vehicles. This belief in the future potential of teleoperated vehicles is the driving force behind Vay’s B2B expansion.
Becoming the AWS of Vehicle Fleets
Vay’s expansion plans involve positioning itself as an AWS (Amazon Web Services) of sorts for vehicle fleets. The startup aims to provide the teledriving platform for automakers, car share and rental firms, trucking companies, luxury telechauffeuring services, and delivery and logistics companies. By offering their teleoperated technology to these businesses, Vay hopes to establish itself as a key player in the future of mobility.
Successful Partnerships and Future Opportunities
Vay has already secured two notable partnerships. The first is with Peugeot, where they are testing tele-driving technology on an E-308 electric van. This partnership explores the potential of teleoperated vehicles in various use cases, including luxury OEM markets like telechauffeuring. The second partnership is with Poppy, a car-sharing company in Belgium, where Vay is testing their teleops technology on Poppy’s fleet. These partnerships serve as strong validation of Vay’s technology and open doors for more high-profile collaborations in the future.
Vay’s Impressive Growth in Las Vegas
Vay’s success is evident in its operations in Las Vegas. The startup launched earlier this year with just two Kia Niro EVs and has since expanded to 15 vehicles. Covering approximately 25% of Las Vegas, including parts of North Las Vegas and Spring Hill, Vay has completed 3,000 trips and is experiencing a steady growth rate of 20% month over month. The positive response from customers has prompted Vay to invest in a larger fleet, with plans to have 100 vehicles within the next six to nine months.
The Price Advantage and Path to Profitability
One key factor contributing to Vay’s growth is its competitive pricing. Vay guarantees that its driverless car-sharing trips are half the price of those offered by ride-hailing giants like Uber and Lyft. This price advantage has attracted repeat customers, particularly local residents and commuters. However, maintaining this pricing strategy has affected Vay’s profitability. Von der Ohe acknowledges that profitability can be achieved through scaling, without the need for thousands of vehicles in the fleet. Additionally, Vay can adjust its pricing to achieve profitability faster if necessary, while still providing a compelling value proposition to customers.
Conclusion
Vay’s teleoperated car-sharing service is paving the way for the future of vehicle mobility. By expanding into commercial and B2B services, the startup aims to become the go-to provider of teleoperated vehicle technology for various industries. With successful partnerships already in place, Vay is poised for further growth and innovation. Its impressive performance in Las Vegas demonstrates the market demand for affordable and flexible car-sharing options. As Vay continues to refine its pricing strategy and scale its operations, it is well-positioned to shape the future of transportation and revolutionize the way we think about car-sharing.