Bangalore, India — [22 October, 2024] — Zoomcar Holdings, Inc. (“Zoomcar” or the “Company”) (Nasdaq: ZCAR), the Nasdaq-listed leading marketplace for self-drive car sharing, welcomes back Waze Co-Founder Uri Levine as the Strategic and Financial Advisor. Mr. Levine served as Zoomcar’s Chairman of the Board from 2021 to 2023, prior to its public listing, and will now provide strategic oversight to the Zoomcar team with a strong focus on problem solving, operational excellence, and capital growth. As part of this Strategic Advisory agreement, Mr. Levine has the opportunity, pending Board approval to return as Chairman of Zoomcar. 

“I’m thrilled to be back,” said Uri Levine. “I am honored to rejoin Zoomcar and leverage my experience to drive its next phase of growth. Our aim is to enhance mobility solutions in emerging markets, ensuring we meet the growing demand efficiently and sustainably. I look forward to the journey ahead.”

Zoomcar’s Interim CEO, Hiroshi Nishijima, expressed his enthusiasm for Mr. Levine’s return, stating, “Uri has a proven track record. His talent for solving customer challenges and scaling businesses makes him a perfect fit as we drive Zoomcar’s growth forward. We’re excited about the future with Uri on board.”

About Uri Levine: Uri Levine is no stranger to making waves. A serial entrepreneur and visionary, in 2007, Mr. Levine co-founded Waze, the world’s leading traffic and navigation app, which was acquired by Google in June 2013 for $1.1 billion. Today, Waze boasts over 140 million monthly active users across 185 countries. He was also an early board member and investor in Moovit, known as the “Waze for public transportation.” Moovit, used today by over 750 million people globally, was acquired by Intel for $1 billion in 2020. 

About Zoomcar: Founded in 2013 and headquartered in Bengaluru, India, Zoomcar is a leading marketplace for car sharing focused in India. The Zoomcar community connects Hosts with Guests, who choose from a selection of cars for use at affordable prices, promoting sustainable, smart transportation solutions in India.

Forward Looking Statement:

This press release includes statements that are or maybe considered, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on assumptions about many important factors, including risks identified in the Company’s most recent filing on Form 10-K and other SEC filings, all of which are available on the Company’s website. These statements may entail significant risk and uncertainty. Any forward-looking statement in this press release refers solely to what is accurate as of the day it is issued or based on assumptions that Zoomcar believes to be reasonable. The actual results and outcomes may materially differ due to various factors or events beyond our control which may not be foreseeable at all times. We cannot guarantee or assure any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this press release can or will be achieved. We undertake no obligation to alter or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as required by law.

Press Contact:

• Akarshit Gulati: akarshitg@avianwe.com

Bhagyashree Rewatkar: bhagyashree.rewatkar@zoomcar.com