Students launch new cheap car rental company in Singapore

Singapore, Mar 16 (UNI) Electric cars from India will be the basis for a new cheap car rental company to be started by four MBA students from the National University of Singapore, according to media reports here today.

The students have won Singapore dollars one million in seed funding to set up a car rental company, MyCar, from a Bangkok Business Challenge competition recently.

The plan is to offer the cheapest but most efficient electric cars from India and Singapore dollars three an hour rate, said MyCar CEO Anand Agarwal.

The low rental cars, meant for people with income of Singapore dollars two thousands and five thousands a month, would also carry advertisements on the internal and external of the cars, he said.

MyCar needs about 2 million Singapore dollars more in funding to start the car rental service.

UNI XC VJ BS1434