Bangalore, India – [7 August, 2024] – Zoomcar, Zoomcar Holdings, Inc. (“Zoomcar” or the “Company”) (Nasdaq: ZCAR), the NASDAQ-listed leading marketplace for self-drive car sharing, has announced the launch of its new & improved unified app that’s designed ​​to upgrade the car sharing experience for both Guests and Hosts. The new app will be faster, smoother to use packed with over 10+ feature upgrades that will further boost the growth of addition of more cars & Hosts on to the platform. 

Previously, Zoomcar had two apps – Zoomcar app was used by over 10M Guests to book a self drive car from widest range of 25,000+ car options while Zoomcar Host app was used by its community of 20,000+ Hosts who share their car on Zoomcar for managing their car listings. This strategic move is vital for Zoomcar’s business, where over 40% of Guests also own cars. With this new app, Guests can effortlessly start their micro business as a Zoomcar Host, and Hosts can seamlessly book a car as Guests, all with just one app.

Guests will have access to a quicker experience while booking a car as Zoomcar improves their catalog with top rated cars and a dedicated “Guest Favourites” feature that has a selection of frequently booked & highly rated cars by other Guests. This feature is designed to facilitate more reliable car selections, enhancing the overall booking experience with trustworthy reviews.

Zoomcar Hosts will now have more control on running their micro business on Zoomcar with the unified app. They can manage multiple cars in just one tab “Your cars” and also simultaneously check their car’s ranking real time to stay updated with how cars from other Hosts in their area are listed as competition. Additionally, Hosts will have the flexibility to choose minimum booking duration, opt out of late night bookings and also switch on automatic listing extensions so their listings don’t expire. New Zoomcar Hosts can now opt for installation of a GPS tracker and keyless entry device right after signing up on the app. 

Hiroshi Nishijima, CEO of Zoomcar, stated, “We’ve been spending a lot of time listening & meeting with our Hosts in the past few months and our unified app has been meticulously designed to provide far more controls to our Hosts and encourage car sharing as a growing business in India. We are obsessed with our customers’ experience and the timing of the launch fits perfectly as we continue to see rising high demand for the Independence Day long weekend.”

Vishal Ramrakhyani, Head of Engineering at Zoomcar, added, “Our engineering & product teams dedicated their time in understanding customer feedback and developed a unified Zoomcar app that integrates all functionalities required by both Guests and Hosts. The new features, such as ‘Guest Favourites’ and easy car listing control for Hosts, are designed to make the platform more intuitive and user-friendly.”

In their annual report for fiscal year ending March 2024, Zoomcar reported improvement in their platform’s average trip rating to 4.66 on a 5 point scale along with an increase in net revenue by 12% from $8.83 million to $9.90 million. Their unified app initiative reflects Zoomcar’s commitment to continuously improving its services and ensuring that both Guests and Hosts enjoy a superior experience under its new leadership team. 

To experience their all new app, download the Zoomcar app from the App Store or Google Play Store.

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 may contain forward-looking statements about our plans, efforts, projections, goals, commitments, expectations, or prospects related to the launch of the unified app. These forward-looking statements reflect our management’s current expectations with respect to the use and implementation of the unified app extended thereof and these statements may entail significant risk and uncertainty. To identify these forward-looking statements, we use terms such as “may,” “will,” “aim,”  “empower,” “estimate,” “intend,” “indicate,” “continue,” “promote,” “believe,” “boosting”, “elevate,” or “enhance,” or the negatives thereof, as well as other variations or comparable terminology. We ask that you read statements that contain these terms carefully because we believe this information is important for our investors and customers. 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 we 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.

Contact:

Akarshit Gulati: akarshitg@avianwe.com

Bhagyashree Rewatkar: bhagyashree.rewatkar@zoomcar.com