MTT awards smart leasing license

As part of its strategy to stimulate investment in smart services across its business, the Ministry of Transportation and Telecommunications (MTT) has announced that it has awarded a smart leasing license.  

YOYO an innovative digital startup has been granted a license by the MTT to operate a commercial car sharing club in the Kingdom. The service is being introduced in partnership with Zain Group and EK Kanoo.

Cars from YOYO will be available across Manama in the first stage of the roll out, and thereafter expanded nationwide. YOYO allows registered members, via an app on their smartphones, to reserve and use vehicles as they require.

Customers to the YOYO Smart Vehicle Rental service will be able to select a vehicle from any location in the city in which the service is available and reserve it for any time period using the YOYO app. Doors of the hired vehicle are unlocked by the customer’s membership card or mobile application, with the vehicle’s keys found inside. Members can return their cars to another parking station and lock the vehicles via their smartphones.

Kamal bin Ahmed Mohammed, Bahrain’s Minister of Transportation and Telecommunications said “This step comes in line with the Ministry’s strategic objectives for developing its land transportation system, and implementing latest technologies of electronic transportation services. This e-leasing license represents a qualitative leap forward for vehicle leasing services and will provide users with advanced services while maintaining sustainability in infrastructure.  

“MTT strives to continuously provide service excellence to our customers in Bahrain, and this initiative marks a step in this direction.”

Mohammed Zainalabedin, GM of Zain Bahrain said, “YOYO’s commercial launch in Bahrain will usher in a new way for the public to consider shared transportation solutions, underlining Zain’s culture of innovation as it looks to bring new and appealing digital services to the region.”

Zainalabedin continued, “This launch would not have been possible without the sanction and support of Bahrain’s Minister of Transportation and Telecommunications, Kamal bin Ahmed and the Bahrain Economic Development Board. We are extremely grateful for their combined vision and creation of a conducive environment for us to deliver this latest innovation to Bahrain.”

Talal Kanoo, Managing Director of Ebrahim K Kanoo commented, “We are pleased to cooperate with Zain and be in a position to support innovation in Bahrain that offer customers the highest levels of convenience. We have every confidence that YOYO will be an extremely successful offering and we look forward to supporting the operation’s growing requirements over time.”

Berkman Cavusoglu, Co-Founder and CEO of YOYO said, “It is an accomplishment to see our service being commercialized in Bahrain. We see this as only a stepping-stone and look forward to entering other markets across Zain’s footprint, and expanding the convenience and reliability offered by our service to new markets.”