Zoomcar Aims to Be Electric Vehicle-Driven by 2025, Strategies Expansion

Sequoia Capital and Mahindra & Mahindra backed self-driving car rental Zoomcar is betting on the electric vehicle (EV) segment and strategies to add 2,500-3,000 more EVs. The firm currently operates a fleet of 500 EVs, which it titles is growing four times year-on-year.

The company, which rents cars by the hour, day, week and month, has Mahindra E2O Plus and Tata E Tigor accessible on the platform for which it charges a subscription fee of Rs 15,000-20,000 per month. It is soon planning to add new Tata Nexon to its fleet of EVs.

“Electric vehicles will linger to pick up and based on the current trends we will be close to 100 per cent electric in the next 5-6 years,” said Greg Moran, co-founder and CEO of Zoomcar.

Presently, EVs form 5 per cent of the total number of cars available on its platform while 10-15 per cent of its user base opting for these cars. In November, Tata Power Delhi Distribution (TPDDL) tied up with Zoomcar to use its EV fleet for its daily operations and maintenance work. The project will start off with the addition of 12 Zoomcar vehicles.