Kia Motors America Launches Mass Market Connected Car Subscription Using the Zuora Platform
March 03 2020 - 8:00AM
Business Wire
Zuora provides Kia Motors America with insight
into customer usage, access to critical financial data, and the
ability to rapidly iterate on its subscription offerings
Zuora, Inc., (NYSE:ZUO) the leading cloud-based subscription
management platform provider, announced today that Kia Motors
America used the Zuora® platform to launch and scale its UVO Link
subscription service - a suite of rich connected vehicle services
and features through the Kia Access with UVO link app, UVO Agent
for Google Assistant, UVO skill for Amazon Alexa, and Owner
website. By launching its connected car initiative on the Zuora
platform, Kia now has access to rich, actionable customer data and
critical financial reporting capabilities, both of which it will
use to continuously iterate its subscription offering and rapidly
go to market with new innovations.
Consumers are increasingly demanding connected technologies to
transform the traditional in-car experience. As a result, the
market for automotive software and electrical/electronic (E/E)
components is projected to grow to $465 billion, from $238 billion,
between 2020 and 2030, according to McKinsey’s “Mapping the
Automotive Software-and-Electronics Landscape Through 2030” report.
Recognizing the incredible demand for in-car technology and
features, Kia refocused its efforts to align with its Autonomous,
Connected, and Eco/Electric (“ACE”) strategy, where it expects to
adopt connected car technologies across every vehicle segment by
2025 and aims to make every vehicle model a connected car by
2030.
As a part of this strategy, Kia launched its UVO Link
subscription offering with a robust set of features - from remote
commands for start, lock, and climate control, to monthly vehicle
health reports and more. The company’s pivotal shift to
subscriptions aims to provide customers with the best possible
connected car experience through innovation, convenience, and
simplicity.
“Connected services are the future of the automotive industry.
Our launch of subscription-based software will not only help us
open up new revenue streams, but will fuel our goal to become a
truly customer-centric organization,” said Orth Hedrick,
Executive Director for Car Products and Connected Car at Kia Motors
North America Inc. “With Zuora’s platform, we have the ability
to quickly and easily iterate our connected services in order to
deliver continuous value to Kia customers across the globe.”
Kia initially launched its limited UVO service in 2009. However,
prior to launching its mass-market version of UVO Link in 2018, Kia
needed to establish the infrastructure to build, sell and iterate a
recurring subscription service in order to convert their existing
customer base to paid, monetize the next generation of car
technologies, and acquire and onboard new customers. The company
chose Zuora as its system of record to launch and manage its
subscription business due to Zuora’s ease of use, clean interface,
flexibility, and experience working with seven other well-known
automotive manufacturers.
With the Zuora platform, Kia developed the design, discovery,
and agile framework to support its subscription service. Zuora
enables Kia to quickly iterate pricing and packaging based on
dynamic market demands, capture critical financial data to
streamline complex finance operations, and incrementally attract
and retain its existing UVO Link customers. Customers now enjoy a
simple and smart connected car experience with both visibility into
the services they subscribe to as well the flexibility to easily
self-manage their subscriptions.
About Zuora, Inc.
Zuora provides the leading cloud-based subscription management
platform that functions as a system of record for subscription
businesses across all industries. Powering the Subscription
Economy®, the Zuora platform was architected specifically for
dynamic, recurring subscription business models and acts as an
intelligent subscription management hub that automates and
orchestrates the entire subscription order-to-cash process,
including billing and revenue recognition. Zuora serves more than
1,000 companies around the world, including Box, Rogers, Schneider
Electric, Xplornet and Zendesk. Headquartered in Silicon Valley,
Zuora also operates offices around the world in the U.S., EMEA and
APAC. To learn more about the Zuora platform, please visit
www.zuora.com.
© 2020 Zuora, Inc. All Rights Reserved. Zuora, Subscribed,
Subscription Economy, Powering the Subscription Economy, and
Subscription Economy Index are trademarks or registered trademarks
of Zuora, Inc. Third-party trademarks mentioned above are owned by
their respective companies. Nothing in this press release should be
construed to the contrary, or as an approval, endorsement or
sponsorship by any third parties of Zuora, Inc. or any aspect of
this press release.
SOURCE: Zuora Financial
Forward-Looking Statements
This press release contains forward-looking statements that
involve a number of risks, uncertainties and assumptions, including
but not limited to statements regarding the expected growth and
trends in the global automotive and connected car sectors, consumer
buying trend expectations, the expected growth and trends in the
market for subscription businesses, and the expected benefits of
any such trends. Any statements that are not statements of
historical fact may be deemed to be forward-looking statements, and
actual results could differ materially from those stated or implied
in forward-looking statements. This press release also includes
market data and certain other statistical information and estimates
from industry analysts and/or market research firms. Zuora believes
these third party reports to be reputable, but has not
independently verified the underlying data sources, methodologies
or assumptions. Information that is based on estimates, forecasts,
projections, market research or similar methodologies is inherently
subject to uncertainties and actual events or circumstances may
differ materially from events and circumstances reflected in this
information.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200303005138/en/
Jayne Gonzalez press@zuora.com 408-348-1087
Zuora (NYSE:ZUO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Zuora (NYSE:ZUO)
Historical Stock Chart
From Apr 2023 to Apr 2024