Zoomcar bets on car-sharing adoption in India, to add 20,000 new cars in FY2025

Zoomcar has partnered with brands like Cars24, Acko Drive, Spinny, and Droom to make car ownership more accessible for hosts via special offers, finan
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Zoomcar
Zoomcar’s car-sharing business aims to provide a new revenue stream for new vehicle owners via micro-entrepreneurship
Zoomcar
Zoomcar’s car-sharing business aims to provide a new revenue stream for new vehicle owners via micro-entrepreneurship

Self-driving and car-sharing platform, Zoomcar, has announced it will be adding over 20,000 new cars to its fleet by the end of FY2025 in India as it bets on car sharing to increase in the country. The company has partnered with brands like Cars24, Acko Drive, Spinny, and Droom to make car ownership more accessible for hosts via special offers, financing and more. Zoomcar says it is making car sharing more convenient and cost-effective.

Zoomcar’s car-sharing business aims to provide a new revenue stream for new vehicle owners via micro-entrepreneurship. The company says its platform has over 10 million guests booking vehicles for travel needs, translating into a revenue of 7 lakh per year with one car (depending on the model) for a Zoomcar host. The company further claims that its hosts earned about $4 million as of Q3 2023.

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Commenting on the partnerships, Greg Moran, Co-founder & CEO - Zoomcar, said "We want to make hosting a car on Zoomcar as popular as booking a car on Zoomcar. Our strategic partnerships with industry players have been instrumental in driving growth and success for our Hosts. We are committed to providing them with the best opportunities to expand their business and increase earnings while aiming to add over 20,000 cars to our platform by fiscal year 2025."

First Published Date: 11 May 2024, 18:01 PM IST
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