Zoomcar to expand fleet with 20,000 new cars by FY2025
Zoomcar, a leading self-driving and car-sharing platform in India, has announced its ambitious plan to add over 20,000 new vehicles to its fleet by the end of FY2025. This move is in response to the growing adoption of car sharing across the country. To facilitate this expansion and make car ownership easier for hosts, Zoomcar has forged partnerships with brands such as Cars24, Acko Drive, Spinny, and Droom.
Strategic partnerships to boost car sharing accessibility
These strategic collaborations aim to offer special deals and financing options, making four-wheeler sharing more convenient and cost-effective. Zoomcar's business model is designed to create a new revenue stream for vehicle owners through micro-entrepreneurship. As Greg Moran, the co-founder and CEO of Zoomcar stated, "We want to make hosting a car on Zoomcar as popular as booking a car on Zoomcar." The company's partnerships have been important in driving growth for their hosts.
Zoomcar's platform: A revenue stream for vehicle owners
Zoomcar's platform, with over 10 million guests booking cars for their travel needs, has proven to be a lucrative revenue stream for vehicle owners. According to the company, a single car can generate up to ₹7 lakh per year in revenue for a Zoomcar host. As of Q3 2023, hosts have reportedly earned about $4 million through the platform. Moran emphasized their commitment to providing hosts with opportunities to expand their business as well as increase earnings.
