Media Release: Modo and Victoria Car Share confirm merger for April 2015
For immediate release
February 5, 2015, Vancouver, BC – North America’s two oldest carsharing co-operatives confirmed they will merge after members voted unanimously to amalgamate during simultaneous Annual General Meetings on Thursday, January 29. Launched in 1997 in Vancouver and Victoria, respectively, Modo and Victoria Car Share Co-operative (VCSC) members will soon be able to book vehicles in both regions.
The resounding decision is the culmination of many months of intensive study to determine the potential impacts on service and finances. Buoyed by a positive financial risk assessment by Vancity, the member-elected volunteer boards of both co-operatives enthusiastically endorsed the decision to fellow members. The new amalgamated co-operative will operate as Modo Co-operative (Modo).
“It was clear that our two organizations were very much on the same page, both philosophically and operationally,” says Modo Board Chair Joel DeYoung. “After much analysis, the Board of Directors voted unanimously to recommend a Yes vote to Modo’s members. We’re thrilled that members of both co-ops voted unambiguously in favour of a merger. Carsharing in British Columbia just got stronger.”
Modo is a two-way carsharing service with a highly diverse fleet, including 15% hybrid and electric.
Modo vehicles will launch in Victoria in April, equipped with Modo’s on-board technology and bookable via Modo’s proprietary booking software, Engage. With members able to book vehicles on both sides of the Strait, Modo can study the feasibility of placing cars at the Tsawwassen and Swartz Bay ferry terminals. Modo currently has a vehicle located at the Horseshoe Bay terminal.
“Truthfully, it’s a win for both sides,” says Modo CEO Nathalie Baudoin. “Modo has the infrastructure and technology to quickly foster growth in Victoria, while the main benefit to Modo members will be a seamless booking experience across Metro Vancouver and Victoria.”
Modo is a two-way carsharing co-operative that’s convenient, affordable and easy. Launched in Vancouver’s West End in 1997, it was the first of its kind in North America. A true Vancouver original. Members book the use of a variety of different vehicles located throughout Metro Vancouver and Victoria for a low hourly rate with insurance, gas and parking included. www.modo.coop