SUMMARY
Nasdaq-listed car rental company Zoomcar has now unveiled its first fulfilment facility in Chennai and plans to launch more than 100 such centres by the end of the year
It is also aiming to onboard 1,000 new cars to the platform by December this year as part of its expansion plans
Earlier this week, the company launched its unified app which will house 10 feature upgrades on the platform
Days after Zoomcar rolled out a unified app to facilitate better car sharing experience for both guests and hosts, the Nasdaq-listed car rental company has now unveiled its first fulfilment facility in Chennai and plans to launch more than 100 such centres by the end of the year.
As per the company’s statement, it is also aiming to onboard 1,000 new cars to the platform by December this year as part of its expansion plans.
Additionally, the cars managed through the fulfilment centre would be tagged as “Assured by Zoomcar” on its app, which would allow guests to have reliable booking options with 24/7 pick-up and drop-off, the company added.
Founded in 2013 by Greg Moran and David Back, Zoomcar
is a marketplace for renting self-driving cars. The startup connects hosts with guests, who choose from a selection of cars for use at affordable prices.
“With our decade long experience we wanted to extend our expertise to Hosts to simplify car sharing for them and help manage their cars without any operational hustle. It’s like signing up for an SIP and getting regular returns,” said Hiroshi Nishijima, chief executive at Zoomcar.
Earlier this week, the company launched its unified app which will house 10 feature upgrades on the platform. It will have access to features like “guest favourites” that will have a selection of frequently booked and highly rated cars by other guests.
In June, Zoomcar’s cofounder Greg Moran was terminated as CEO after a 12-year tenure.
Following that, Zoomcar’s global president Adarsh Menon quit the post within six months of his joining.
The Bengaluru-based startup started trading on the Nasdaq on December 29 last year, following a SPAC merger with Cayman Islands-registered Innovative International Acquisition Corp.
Zoomcar’s net loss narrowed to $34.3 Mn in the year ended March 31, 2024 (FY24) from $62 Mn in the previous fiscal. The startup’s net revenue also increased 12.5% to about $9.9 Mn in FY24 from $8.8 Mn in the previous fiscal year.
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