After four years of operation in India, self-drive car rental company Zoomcar is now planning to explore other Asian and African markets.
“We have conducted an in-depth research and have a decent sense of market knowledge in Asia and Africa. Our aim is to be in 20-plus countries in next two-three years,” said Greg Moran, CEO and Co-founder, Zoomcar.
He added that his first move would be towards Asia and then eventually get into Africa, which is quite an uncharted market. From the tech point of view, there is a huge opportunity in Africa as few companies have come out with unique innovation whereas the demographics are like India which again highlights a scope for a breakthrough chance.
The Bengaluru-headquartered company is also betting big on Zoomcar Associate Program (ZAP), which allows people buy cars and lease it to Zoomcar for running it as a self-driven rental car, for the next round of growth.
According to Zoomcar, its ZAP major revenue stream model will help the company achieve its target. Over the next few years, the car rental company is targeting to spread its reach in 30 cities in India with a fleet of 25,000 cars for which its ZAP would account 85-90 per cent.
Recently, Zoomcar successfully launched its one-way intercity travel where a user can pick up a car from one city and drop it to another.
Since its inception in April 2013, Zoomcar claims to have made almost 9 lakh trips in 25 cities with a ticket size of about Rs 4-6k on an average. It also says that it has more than 20 lakh registered users across the country with 3000 fleet.
The company is also in talks with various State governments to solve the regulatory issues around having a commercial licence for a private car.