Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 35

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 35
---
 and there is no assurance that we
will be able to grow our revenues in future periods. Our results of operations are impacted by a number of factors, some of which are
beyond our control, and we may suffer adverse impacts to our further development as a result of circumstances which include decreasing
customer demand, increasing competition, declining growth of the car sharing industry in general, insufficient supply of vehicles on
our platform, or changes in government policies or general economic conditions. We will continue to develop and improve the features,
functions, technologies and other offerings on our platform to increase our Guest and Host bases and volume of bookings on our platform.
However, the execution of our business plan is subject to uncertainty and bookings may not grow at the rate we expect. If our growth
rates decline, investors’ perceptions of our business and prospects may be adversely affected and the market price of our Common
Stock could decline.

Existing and potential holders of our securities should also consider the risks and uncertainties that a company with a limited history, such as ours, will face in the evolving personal mobility solutions market. In particular, there can be no assurance that we will:

| ● | successfully execute on our business                                        
 plan, particularly in light of our current liquidity and capital resources; |

| ● | facilitate sufficient bookings to become profitable in the near-term if at all; |

| ● | attract increasing numbers of Hosts and Guests within our current market and future potential additional markets; |

| ● | increase penetration within our current markets through continued improvements in vehicle density, platform features and strategic marketing efforts; |

| ● | enable us to successfully execute our business plans; |

| ● | enhance our brand recognition and awareness; |

<div align='center'>15</div>

| ● | acquire new Hosts and Guests by increasing our market penetration with deeper market coverage; |

| ● | develop new platform functionality and features that enhance our ability to retain Guests and Hosts; |

| ● | develop, improve or innovate our proprietary technology that allows for a sustainable competitive advantage; |

| ● | attract, retain, and manage a sufficient staff of management and technology personnel; or |

| ● | respond effectively to competitive pressures. |

We have a history of operating losses and negative cash flow, we have limited cash resources, we will need to raise additional funds imminently to finance operations and as a result there is substantial doubt about our ability to continue as a going concern.

We have a history of operating
losses and expect to continue incurring operating losses in the foreseeable future