Cambridge, MA USA
Zoom is a membership based self-drive car-sharing company that seeks to transform the way cars are used in India. Zoom is focused on bringing the best technological and logistical solutions from around the world to achieve this objective. Zoom will contribute to a sustainable, long-term oriented solution to the vast transit challenges created by India’s rapid development, modernization, and urbanization. Zoom expects to provide vehicle availability to millions of new Indians, while in the process actually removing vehicles from the road and reducing the total number of miles driven.
Car-sharing is more affordable than traditional ownership for occasional drivers, because users only pay for the time that they are actually using the car. Zoom eliminates the upfront and fixed costs of car ownership: the vehicle purchase, taxes and registration, insurance, and parking. Zoom replaces them with a simple hourly or daily rate (which also includes all of the variable costs of car ownership, such as fuel and maintenance).
Additional benefits compared to traditional Indian car rental providers include:
Zoom will initially focus on three principal demographics:
- Significantly simpler reservation system done through website or “app” (not over phone)
- More convenient pickup and drop off locations (not one centralized storefront)
- Greater flexibility with respect to last-minute reservations and extending reservation
Once the business model is proven, Zoom expects to target corporations and municipal governments in order to become a preferred fleet provider.
- Middle class individuals who cannot afford to own a car but could afford the occasional use of a car through car-sharing
- Upper middle class young professionals who own cars, but would like to trade up for luxury vehicles or SUVs for specific occasions
- University students living in different cities than family members and as such, don’t have easy access to a car