On February 5, SEC filings showed that the regulator sought clarity on the firm's revenue projections.
The self-drive car rental startup was shut from March-August 2020 because of COVID-19. As business took a hit, refunds became a casualty. One customer even had to send over 100 emails for a refund. These refunds pertain to cancelled bookings, broken-down cars and other issues.
Under the agreement, Zoomcar will provide its proprietary technology which emphasises on security and maintenance of vehicles, while ETO Motors will own and operate electric three-wheelers for shared first-mile and last-mile passenger commute, as well as goods movement within cities, a company statement said.
The opportunity to subscribe to a car and then share and save when not in use is a first of its kind innovation for the Indian ecosystem.
"If you actually look at the state, Rajasthan is a big market for us because if you really think about the tourism opportunities here and the consistent travel, then Rajasthan is one of the best," Moran told PTI.
CNBC TV18'S Adith Charlie spoke to Zoomcar‘s CEO, Greg Moran, who said that Cadabra will be installed in cars that are leased to the company under the Zoomcar Associate Programme.
Armed with recent fund raising of USD 24 million from Fored Smart mobility, Moran said, "Our current national fleet size is about 2,000 cars and in a year's time this will expand to 10,000 cars."
Watch accompanying videos of Do Big Symposium 2015-2016 powered by CNBC-TV18. This is a nationwide series which provides a multi-city platform to bring on board decision makers and influencers to discuss digital opportunities and challenges in India.
SURGE 2016 expects more than 4,000 attendees including ...