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  • Zoomcar reports fiscal third quarter 2023 results

    Zoomcar reports fiscal third quarter 2023 results

    Mumbai: Zoomcar Holdings, Inc. (Nasdaq: ZCAR) (“Zoomcar,” the “Company,” “we,” or “our”), the leading marketplace for car sharing in emerging markets, has reported select financial results for the third fiscal quarter ended 31 December 2023.

    Management Commentary

    “Our third fiscal quarter results capped a strong performance in our ongoing efficiency efforts as we achieved record gross profit and non-GAAP contribution profit while also paving the way for meaningful revenue growth over the next several quarters,” said Zoomcar CEO & co-founder Greg Moran. “The period also marked an important milestone with our public listing on Nasdaq following our successful business combination. As we look ahead to 2024, we expect a meaningful return to growth with materially improved profitability as we now have the right infrastructure in place to scale our operations efficiently.”

    Zoomcar comments and continues to make significant progress across the Company’s strategic priorities:

    1   Make vehicle Hosting mainstream: We’re focused on making vehicle Hosting just as popular as renting a Zoomcar, and we believe we’re making continuous progress to this end. Active vehicle listings hit 10.3K in FQ3 2023 as we continue to see double-digit supply growth across all major regions within India. In FQ3 2023, Zoomcar Hosts earned approximately $4 million. We’ll continue to raise awareness around Hosting through brand marketing investments and external third-party partnerships, while improving the Host’s onboarding journey and their overall experience on the platform.

    2   Perfect the core guest experience: We are intensely focused on technology-driven product innovation to improve the overall booking experience for our community of guests. In FQ3 2023 alone, we launched more than 20 new features and upgrades that, among others, help improve vehicle listing discoverability, improve price comparison capabilities, enhance sort/filter abilities within search, and revamp the payment experience at checkout.

    3   Expand beyond India: We are making steady progress in our efforts to expand beyond India. Egypt continues to scale bookings while building toward a sustainable non-GAAP contribution margin at the country level. In Indonesia we remain focused on building the appropriate mix of supply to attract higher volumes of demand to the platform on a consistent basis. We remain committed to further investment into these markets across 2024 and look forward to exploring additional opportunities for new country expansion later in the year.

    Key Performance Indicators (“KPIs”)

    1   FQ3 2023 marked a record quarter in average transaction size across the Company. Zoomcar achieved a record average transaction size of over $75 per booking during the quarter. This performance showcases the platform’s ability to leverage our internal AI models to drive higher effective net pricing on behalf of our Hosts. Concurrently, the platform also continues to enjoy a significant expansion in our multi-day travel demand which drives effective trip durations higher.

    2   Booked days and booked guests have shown increased momentum in recent months. Total booked days and booked guests were 163.9K and 68.1K, respectively.

    3   We achieved a record in active vehicle listings in FQ3 2023. Our active vehicle listings reached 10.3K in FQ3 2023. We continue to witness growth across Indian metros while observing a balanced mix of vehicle segments associated with new listings. Consistent with earlier trends in 2023, we see a consistently larger mix of professional Hosts to the platform with the intent of leveraging the Zoomcar platform as a micro-entrepreneurship opportunity.

    4   Platform quality continues to improve at a steady pace. The platform’s average guest trip rating was 4.50 on a 5-point scale in FQ3 2023. We believe that this clearly demonstrates that our product focused approach to the customer experience on the Zoomcar platform is continuing to pay dividends. A constant focus on building tools to better improve in-trip communication between guests and Hosts represented a noticeable step function improvement in the overall in-trip experience for both sets of customers on the platform.

    Fiscal Third Quarter 2023 Financial Results

    Results compare 2023 fiscal third quarter end (December 31, 2023) to 2022 fiscal third quarter end (December 31, 2022) unless otherwise indicated. We are also presenting various financial metrics under U.S. Generally Accepted Accounting Principles (GAAP) and as adjusted (non-GAAP). A reconciliation of GAAP to non-GAAP metrics appears at the end of this news release.

    1   Net revenue decreased 19% to $2.4 million, compared to $3.0 million in the same period last year. The decrease in revenue was primarily due to a lower number of days booked resulting in decreased gross billings as the Company prioritized higher-margin bookings in support of its cost reduction efforts.

    2   Gross profit increased to a record $0.3 million, compared to a gross loss of $0.3 million in the same period last year. The increase in gross profit was a result of trip fulfillment cost reductions driven by collective improvements in efficiency and lower Host accident-related reimbursements that consistently showed improvement over fiscal 2023.

    3   Operating expenses (excluding G&A costs) decreased 24%, to $2.2 million, compared to $2.9 million in the same period last year. The decrease in operating expenses was a result of a decrease in sales and marketing costs and technology and development costs.

    4   GAAP net income was $14.4 million, compared to an $8.7 million net loss in the same period last year. The improvement in net loss was the result of a one-time deSPAC transaction gains of $28.9 million associated with financial instrument conversions at fair market value. During the period, the Company also improved its gross margin profile and recorded a reduction in Host accident-related reimbursements.

    5   Gross booking value (“GBV”) was $6.5 million, compared to $8.3 million in the same period last year. The decrease in GBV was a result of our focus on booking level profitability (contribution margin) improvements at the expense of volume growth.

    6   Contribution profit (non-GAAP) was $0.2 million, compared to a contribution loss of $0.7 million in the same period last year, driven by reductions in cost of revenue due to the overall improvements in operational efficiency as well as lower host incentives and marketing costs. FQ3 2023 was the Company’s first full quarter of positive contribution profit and marked a consistent quarter-over-quarter effort to achieve this result.

    7   Adjusted EBITDA loss (non-GAAP) was $4.0 million, compared to $5.2 million in the same period last year. The improvement in adjusted EBITDA reflects broad-based cost reduction and efficiency initiatives that reduced cost of revenue, technology and development costs, and operating expenses.

       As of December 31, 2023, the Company had total negative working capital of $26.2 million, including $6.1 million in cash.

    Calendar 2024 Financial Outlook

    Based on initial performance in calendar year 2024 to-date as well as anticipated business growth expected in the coming months, the Company projects net revenue to range between $17.0 million and $20.0 million for the calendar year ended 31 December 2024, representing an increase of approximately 70% to 100% compared to calendar year 2023.

    The company also expects to achieve an annualised adjusted EBITDA run rate between $2.0 million and $4.0 million in calendar Q4 2024. 

  • “At Zoomcar, we are always thinking of fun ways to make travel memorable for our customers”: Zoomcar’s Greg Moran

    “At Zoomcar, we are always thinking of fun ways to make travel memorable for our customers”: Zoomcar’s Greg Moran

    Mumbai: Zoomcar, a leading marketplace for car sharing in emerging markets which recently got publicly listed on NASDAQ, has announced a heartwarming addition to its car fleet just in time for Valentine’s Day: the ZoomChariot. Every year brands battle for the most unique ways to make their customers feel loved. This year, Zoomcar has gone above and beyond their car sharing marketplace model where local hosts share their cars with guests and introduced a special e-victoria buggy called the ZoomChariot.

    This initiative has aimed to elevate Valentine’s Day experience in the most romantic way of travel through the enchanting streets of Nariman Point, Mumbai. The inspiration behind the ZoomChariot campaign stems from the desire to offer people unique and unforgettable experiences. Whether or not you own a car, with Zoomcar you can always drive one like you own it and  indulge yourself in luxury by booking high end cars on special occasions like Valentines Day. By introducing the ZoomChariot, Zoomcar aims to cater to this sentiment, providing couples with a novel and enchanting way to celebrate their love by traveling in style.

    Indiantelevision.com caught up with Zoomcar CEO Greg Moran, where he talked through the inspiration and creation of this campaign.

    Edited excerpts

    On the inspiration Zoomcar took to introduce ZoomChariot

    The inspiration behind the ZoomChariot campaign stems from the desire to offer people unique and unforgettable experiences. Whether or not you own a car, with Zoomcar you can always drive one like you own it or indulge in a higher car model for added luxury on special occasions like Valentines Day. By introducing the ZoomChariot, Zoomcar aims to cater to this sentiment, providing our customers with a novel and enchanting way to celebrate their love by traveling in style, keeping convenience and freedom to journey the way you want the center of our mission.

    On the user experience of booking and enjoying a ride on ZoomChariot, particularly on Valentine’s Day

    The ZoomChariot can be directly booked on the Zoomcar app. By selecting the location as Nariman Point, Mumbai, one can fill a form where they can block their slot of choice for the ride available every 15 mins on the app. On the day of go live on 11th Feb, hundreds of customers immediately booked the ZoomChariot and all slots were sold out within minutes. We are offering the ZoomChariot again on 14th Feb.

    On the response received from customers who have experienced ZoomChariot rides

    People at Nariman Point were lining up to get onboard our ZoomChariot decorated with flowers, fairy lights and balloons. We also saw some folks post about it on Instagram and X.com tagging us. The response was overall very heart warming full of surprise and awe as people know of us as a brand to share a car from. The ZoomChariot was definitely eye catchy and people loved taking a ride with their loved ones and family.

     

     

     

     

    On ZoomChariot contributing to sustainable and eco-friendly mobility solutions, especially with its electric chariot option

    The inception of Zoomcar is built on the strong foundation of providing and scaling sustainable mobility options while traveling. Our marketplace model is built on this foundation & ensures a sustainable solution to a growing demand from environmentally conscious customers. For Valentines Day we wanted to give our users the utmost romantic way to travel and turning an electric Victoria into a ZoomChariot was a match made in heaven.

    On logistical considerations Zoomcar took into account when planning the availability of ZoomChariot rides

    Nariman Point is one of the most iconic and enchanting streets of Mumbai where locals and tourists go on romantic walks and rides by the sea. For Valentine’s day we decided to make use of the occasion and bring out the romance by creating a ZoomChariot of the e-victoria buggy and offering free rides for a lasting memory. We launched it on 11th Feb, Sunday one of the busiest and easiest days people visit the location and also offer it again on Valentines Day for those celebrating in and around the location. The ride is scenic during a sunset and dreamy romantic later in the evening with the fairy lights on.

    On extending plans to  ZoomChariot service beyond Valentine’s Day or to other cities in India

    At Zoomcar, we are always thinking of fun, adventurous and out of the box ways to make travel convenient and memorable for our customers. While ZoomChariot was a tactical campaign to make people feel loved and elevate their Valentine’s Day plans, we aim to be a part of more such journeys in the coming days. 

  • Zoomcar introduces new product category with 50% lower pricing

    Zoomcar introduces new product category with 50% lower pricing

    Mumbai: Zoomcar, the leading marketplace for car sharing in emerging markets, has announced a new product category on its platform called the Thrift Store. This new product category is a powerful move by the recently NASDAQ listed company, Zoomcar, offering up to 50% lower pricing for same day bookings and up to 30-45% off for next day bookings paving the path to new found affordability and accessibility for guests. Zoomcar is available across 45+ cities in India including delivery to guests at transit points like airports and railway stations with a comprehensive portfolio of cars across categories – Hatchbacks, Sedans, MUVs, SUVs, EVs, and Luxury cars.

    Compared to cab rentals who typically have surge pricing for immediate demand, this innovative pricing offering is set to transform the landscape of self drive car sharing with a customer first approach making it more affordable and enjoyable. Local hosts on the Zoomcar platform have the ability to opt into this feature to increase the usage of their vehicles during the weekdays with an expectation of increasing their overall earnings.

    Designed to reinforce the relative value and competitive pricing of self-drive, Thrift Store’s transparent and predictable new affordable pricing structure, aims to build trust and foster long-term relationships with its valued customers.

    Zoomcar co-founder & CEO Greg Moran said, “We want to put the pedal to the metal with Thrift Store where guests can experience the freedom of spontaneous self drive travel. It is a game changer for our local hosts too, making their cars instantly available for bookings while maximizing their earnings and contributing to a more sustainable and efficient car-sharing ecosystem. This is not a one time marketing campaign but an always on product offering as Zoomcar remains fully committed to making the self-drive experience not just convenient but also fully affordable to the everyday consumer.”

    Zoomcar president Adarsh Menon added, “Zoomcar’s Thrift Store is our solution to offering one of the most convenient & cost effective travel options especially given the freedom and privacy of self drive. We want our customers to feel confident while driving a car worry free without the fear of unexpected costs, breaking the bank or even owning it. For the hosts, it is our endeavor and promise to provide them an increase in bookings and sustained income.”

    A recent report from Zoomcar also shared an industry leading NPS with an average trip rating of nearly 4.7. The Thrift Store product launch is a testament to Zoomcar’s commitment to customer-centric innovation and its broader focus toward building a stronger self-drive car sharing ecosystem. 

  • Mappls KOGO teams up with Zoomcar for AI-powered travel adventures

    Mappls KOGO teams up with Zoomcar for AI-powered travel adventures

    Mumbai: In a significant move poised to disrupt the travel and mobility landscape, Mappls KOGO, an AI travel expert app, has joined forces with Zoomcar, the marketplace for car sharing in emerging markets to offer their customers an unparalleled travel experience.

    Mappls KOGO is an AI travel expert app in India, offering bookable travel recommendations that save users both time and money. With its dynamic AI technology, Mappls KOGO has emerged as a true pioneer in the realm of travel discovery for anyone looking to step out of the home. Zoomcar on the other hand, empowers host entrepreneurs to safely and easily share their cars to earn additional passive income. Guests in the Zoomcar community enjoy a diverse, affordable selection of cars to unlock memorable driving experiences with friends and family. The synergy between the two platforms goes beyond what each platform can offer on its own, combining the expertise of Mappls KOGO in travel and the mobility prowess of Zoomcar to provide users with unprecedented ease and flexibility.

    This collaboration is well-timed as travel enthusiasts around India embark on journeys during the festive season. Customers will also witness an effortless integration of Mappls KOGO’s AI-driven features in this partnership to further enhance their experience. It will offer them the best of both worlds by combining the robust functionality of the Zoomcar app with the convenience of booking through KOGO, all while leveraging the intelligent capabilities of KOGO’s AI Trip maker for truly comprehensive and user-friendly travel solutions. Whether they’re crafting an itinerary or managing self-drive car experiences, this partnership will provide a seamless, all-in-one solution for all users’ travel needs.

    Mappls KOGO CEO and co-founder Raj K Gopalakrishnan said, “Imagine the unparalleled offering that we are bringing to our users when it comes to travel in India. Not only are we equipping them with on-the-spot personalised travel itineraries, real-time travel data, competitively priced stay and flight booking options, but now are also bringing them access to offbeat travel destinations which they are largely unaware of, along with the means to reach those – Zoomcar self-drive. This is an offering like no other, and it’s here to revolutionise the travel industry. We’re all set to take travellers on a journey they’ve never experienced before.”

    Mappls KOGO’s AI-enabled features such as its unique trip maker and Kogonaut provide travellers with distinctive recommendations, while Zoomcar’s seamless booking system and premium car range cater to their specific travel needs. This partnership created a comprehensive travel ecosystem, in sync with the trends of responsible travel and shared mobility, providing travellers with an all-encompassing experience. Additionally, as part of this partnership, Mappls KOGO will be extending the exclusive KOGO X membership to Zoomcar users at a very special price, further enhancing the value of their trips with the exclusive perks.

    Mappls KOGO co-founder and CTO Praveer Kochhar remarked, “We are excited to partner with Zoomcar to amplify the overall travel experience that we bring to our users by creating an offering like none other. This association comes as a game-changer in the travel industry – together we aim to unlock new possibilities for our users who have so far only been exposed to limited travel options across India, we are here to change the way India plans its travel.”

    Zoomcar  CEO and co-founder Greg Moran said “At Zoomcar we continue to focus on transforming urban mobility across emerging economies and are delighted to partner with Mappls KOGO to bring innovative, mobility solutions to our guests. As trusted travel partners for customers across the country, we see great synergies in this partnership”

    This partnership will not only add car sharing to an already burgeoning ecosystem of the platform but will also exemplify the unwavering commitment of both Mappls KOGO and Zoomcar to continuous innovation and an enhanced customer experience in the ever-evolving realm of travel. 

  • Innovative International Acquisition Corp and Zoomcar announces effectiveness of registration statement on Form S-4

    Innovative International Acquisition Corp and Zoomcar announces effectiveness of registration statement on Form S-4

    Mumbai: Innovative International Acquisition Corp. (NASDAQ: IOAC) (“IOAC”), a Cayman Island registered blank-check special purpose acquisition company, and Zoomcar, Inc., a Delaware corporation (“Zoomcar”), an emerging market focused peer2peer car sharing company, are pleased to announce that IOAC’s registration statement on Form S-4, initially filed with the U.S. Securities and Exchange Commission (“SEC”) on 7 February 2023 (as amended, the “Registration Statement”), has been declared effective by the SEC. The Registration Statement was filed in connection with the proposed business combination between IOAC and Zoomcar, previously announced on 13 October 2022.

    IOAC has scheduled an extraordinary general meeting of IOAC shareholders (the “IOAC Meeting”) to seek approval and adoption of the Merger Agreement among IOAC, Zoomcar and the other parties thereto and the transactions contemplated thereby (the “Transaction”), and other related matters, a key milestone in the business combination process.

    IOAC’s shareholders of record as of the close of business on 20 September 2023, are entitled to receive notice of, to vote, and have their votes counted at the IOAC Meeting and any adjournment thereof.  The joint proxy statement, prospectus and other relevant documents in connection with the proposed Transaction will be mailed to IOAC’s shareholders as of the record date. The Registration Statement containing the joint proxy statement and prospectus contains important information about the proposed Transaction, the Merger Agreement, and the proposals to be considered at the IOAC Meeting. The Registration Statement containing the joint proxy statement, prospectus, and proposals to be considered is available through the SEC’s website at www.sec.gov.

    The joint proxy statement also notifies Zoomcar stockholders of Zoomcar’s solicitation of written consents to the Merger Agreement and Transactions associated therewith.  Zoomcar stockholders of record as of 30 September 2023 will be entitled to execute and deliver written consents and are encouraged to review the important information about the proposed Transaction contained in the proxy statement and written consent solicitation materials, in addition to the Registration Statement and IOAC’s other public filings available free of charge through the SEC’s website at www.sec.gov.

    IOAC CEO & chairman Mohan Ananda stated, “I am delighted to announce the SEC’s approval of the effectiveness of the S-4 registration statement. This significant milestone brings us one step closer to finalizing the merger transaction with Zoomcar, a leader in emerging markets as the largest car-sharing platform. With the explosion of emerging markets and the wave of global entrepreneurship, I am confident about Zoomcar’s bright future as a leading global mobility platform.”

    Zoomcar CEO & co-founder Greg Moran commented, “We’re thrilled to announce this important milestone in our ongoing partnership with the IOAC team and we look forward to continuing the buildout of our peer2peer car sharing platform across our core emerging market geographies.”

    The closing of the Transaction, which is expected to occur in the fourth quarter of 2023, is subject to approval by IOAC shareholders, Zoomcar stockholders and the other closing conditions set forth in the Merger Agreement. Upon closing of the Transaction, IOAC is expected to transfer by way of continuation out of the Cayman Islands and into the State of Delaware and be renamed Zoomcar Holdings, Inc., and will continue to operate under the Zoomcar management team, led by Greg Moran, Co-Founder and Chief Executive Officer of Zoomcar. The combined company’s common stock is anticipated to be listed on NASDAQ under ticker symbol “ZCAR.”

  • Go beyond borders: How car sharing is revolutionising World Tourism

    Go beyond borders: How car sharing is revolutionising World Tourism

    Mumbai: In a world increasingly defined by connectivity and sustainability, car sharing has emerged as a transformative force in the travel industry. Travelers are no longer limited by the confines of traditional transportation options; instead, they are embracing the freedom and flexibility that car sharing services provide. Let’s explore how car sharing is revolutionising world tourism and why Zoomcar stands out as a strong platform in this travel revolution.

    1. Embracing Local Experiences

    Car sharing allows travellers to immerse themselves in local cultures and explore off-the-beaten-path destinations. Tourists can now venture into remote villages, navigate scenic routes, and indulge in authentic culinary experiences with ease. This shift from guided tours to self-driven adventures enhances the overall travel experience and fosters a deeper connection with the places visited.

    2. Flexibility and Convenience

    Gone are the days of rigid itineraries and strict schedules. Car sharing offers the flexibility to change plans on a whim. Whether you want to extend your stay in a picturesque town or spontaneously discover hidden gems, having a car at your disposal empowers you to explore at your own pace.

    3. Eco-Friendly Travel

    The travel industry is increasingly focused on sustainability, and car sharing aligns perfectly with this ethos. By reducing the number of vehicles on the road, car sharing minimizes carbon emissions and contributes to a greener planet. Tourists can now explore with a clear conscience, knowing they are making environmentally responsible choices.

    4. Cost-Effective Travel

    Car sharing can also be a budget-friendly alternative. Travelers can split the cost of rentals among friends or family members, making it an economical choice for group trips. Additionally, car sharing eliminates the need for expensive taxi rides or multiple rental cars during a single journey.

    5. Freedom to Roam

    Car sharing liberates tourists from the constraints of public transportation schedules. It opens up opportunities to explore remote national parks, traverse scenic coastlines, and access attractions that might be otherwise challenging to reach. The sense of adventure that comes with driving your own car enhances the journey itself.

    6. Integration of Technology

    The rise of car-sharing platforms like Zoomcar is closely tied to advancements in technology. These platforms offer user-friendly apps that allow travellers to book, locate, and unlock cars with ease. GPS navigation, real-time tracking, and in-car connectivity enhance the overall experience and ensure a smooth journey.

    7. Safety and Reliability

    Car sharing companies like Zoomcar prioritize safety and reliability. Their vehicles undergo regular maintenance and are equipped with safety features, providing peace of mind to travellers. Additionally, customer support and assistance are just a phone call away in case of any issues.

    8. Community Building

    Car sharing fosters a sense of community among travellers. Sharing a car with locals or fellow tourists can lead to valuable interactions, recommendations, and even lifelong friendships. It’s a unique way to connect with people and create lasting memories.

    Zoomcar, a pioneer in the car-sharing industry, has consistently stood out as a strong platform for travellers. With a wide range of vehicles to choose from, transparent pricing, and a seamless booking process, Zoomcar has earned the trust of millions of travellers worldwide.

    In conclusion, car sharing is transforming the way people explore the world. It offers a plethora of benefits, from flexibility and cost savings to sustainability and immersive experiences. Zoomcar, with its commitment to customer satisfaction and innovative technology, remains a top choice for travellers looking to embark on unforgettable journeys beyond borders. So, if you’re planning your next adventure, consider the freedom and possibilities that car sharing can bring to your travel experience.

  • Zoomcar partners Air India to offer Flying Returns points to travelers

    Zoomcar partners Air India to offer Flying Returns points to travelers

    Mumbai: Zoomcar, the leading marketplace for car sharing in emerging markets, has announced a partnership with Air India, the country’s leading international carrier, enabling the carrier’s Flying Returns (FR) frequent flyer members to earn Flying Returns points for using Zoomcar’s car sharing services. Air India Flying Returns members can now choose from Zoomcar’s self-drive options through the Air India website.

    Flying Returns members will receive up to five Flying Returns points on every 100 spent and an additional discount of up to 15 per cent on their first booking with Zoomcar till 30 September 2023, using the promo code ‘ZOOMAIR INDIA’.

    Zoomcar’s core offering allows individuals to access personal mobility in a safe, affordable, and flexible manner.

    Steps to earn Flying Returns points:

    •    Visit Air India partner page through link and click Book Now –https://www.airindia.com/in/en/flying-returns/partner-offers/zoomcar.html
    •    Visit Zoomcar app/download the App
    •    Provide the required details (Pick up location, start date, End date etc.) to search the cars available near your pickup location.
    •     Select from the list of options available.
    •    Once you have finalized the car, apply ‘ZOOMAIRINDIA’ coupon to earn additional discount & Flying Returns points & make the payment.

    “Over the past decade, we have been transforming urban mobility across emerging economies,” said Zoomcar CEO & co-founder Greg Moran. “We are delighted to partner with Air India to bring innovative, mobility solutions to our common guests. As trusted travel partners for customers across the country, we see great synergies in this partnership.”

  • Tata Power and Zoomcar join hands to offer seamless EV charging infra solutions

    Tata Power and Zoomcar join hands to offer seamless EV charging infra solutions

    Mumbai: Tata Power EV Charging Solutions Ltd. (TPEVCSL), a Tata Power group Company and Zoomcar, a leading marketplace for car sharing, have entered into a Memorandum of Understanding (MoU) to promote widespread electric vehicle adoption and deliver a seamless, user-friendly charging experience to EV users nationwide.

    The MoU was signed between Tata Power EV Charging Solutions Ltd. (TPEVCSL) and Zoomcar in Mumbai in the presence of Tata Power Renewable Energy Ltd CEO Ashish Khanna, Tata Power head business development, EV Charging Virendra Goyal, Zoomcar CEO and co-founder Greg Moran. Tata Power EV Charging Solutions Limited is a wholly owned subsidiary of Tata Power Renewable Energy Ltd.

    This collaboration aims to promote Tata Power’s EZ Charge points on the Zoomcar platform and will focus on supporting existing and aspiring EV owners along with Zoomcar’s existing customers. Valuable insights on Tata Power’s extensive network of EZ Charge points all across the country will provide these customers with easy access to streamline the EV charging process and address the challenges often associated with using the charging infrastructure. This will encourage more people to list their EVs on Zoomcar’s platform and potential customers to opt for them.

    Tata Power has an extensive EV charging infrastructure: EZ Charge includes over 50,000 home chargers, 4370+ public and semi-public charging points, and 250 bus-charging points across 350 cities including multiple highways. The company aims to establish 25,000 charging points in the next five years, bolstering the national EV ecosystem and driving sustainable mobility growth. Zoomcar, has over 20,000 cars on its technology-driven platform across India, Indonesia, and Egypt.

    “This collaboration with Zoomcar is another milestone in our journey to speed up the green mobility transition in the country. As India’s leading EV charging infrastructure provider, we are constantly collaborating with industry partners such as Zoomcar to develop a technologically advanced and robust EV ecosystem in the country.”said Tata Power CEO & MD Praveer Sinha.

    Zoomcar CEO & co-founder Greg Moran stated, “We are very excited to embark on this journey with Tata Power, leveraging their position as a leader in the field of EV charging.  At Zoomcar, we strive to be at the forefront of creating innovative solutions that can help shape the mobility industry. Our car-sharing platform is perfectly suited for electric vehicles and we expect to grow 50% of our platform by 2025. This mutual partnership is poised to create a comprehensive ecosystem that fulfils the evolving needs of EV enthusiasts”

  • Zoomcar shares the success of marketing campaign #BeatPeZoomkar

    Zoomcar shares the success of marketing campaign #BeatPeZoomkar

    MUMBAI: Zoomcar announced the success of its marketing campaign #BeatPeZoomkar with over 50 upcoming rappers in India. Zoomcar revealed that the marketing campaign turned out to be a huge success gathering an account reach of 341k with over 500k views in just 15 days.

    This is not it, Zoomcar witnessed over 50 entries across India in just 48-hours of campaign launch, shared Zoomcar India CEO Nirmal NR.

    Zoomcar is now urging other brands to identify such talent and give them a platform and the right exposure.

    The campaign has been developed on the insight that rapping culture has become mainstream with more and more young talent looking out for a platform.

    As a part of this campaign, Zoomcar Instagram reels initiative discovered rapping talent from all corners of the nation and gave them 5 keywords – ZoomKar, Download, Luxury, Home Delivery and Price. Zoomcar with an Instagram base of 129K wanted young talent to have access to a captive audience and in just 15 days the campaign witnessed accounts reach 341k with over 500k views.

    While sharing the success story of Nirmal, said, “With our #BeatPeZoomkar campaign we wanted to give upcoming rappers in India an opportunity to showcase their skills. We wish to urge other brands to identify such talent and give them the platform and exposure they need.”

    Sharing her experience of being a part of this campaign, one of the rappers Srushti Tawade said, “I’m glad to be a part of Zoomcar’s Instagram reel campaign. The fact that Zoomcar decided to help rap artists shine through this campaign was instantly attractive to me.”

    “I wrote, rapped & edited the reel myself, which was a fun experience. Writing a rap about an app is a first for me. I didn’t know if people would like to watch this attempt of mine. However, I took it as a challenge to make sure this rap was as enjoyable & loved as any other. Moreover, featuring on Zoomcar’s official page was a bonus. Thank you so much for this opportunity,” added Tawade.