Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 117

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 117
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 existence prior to the consummation of the Business Combination) and its consolidated subsidiaries.

Overview

During our fiscal year ended
March 31, 2022, Zoomcar’s business model shifted from a prior business model, in which we owned and leased vehicles to our customers,
to our current online peer-to-peer car sharing platform which connects Hosts (car owners) with Guests (persons in temporary need of vehicles).
Although our platform technology was already under development for several years prior to this transition and we began on-boarding Hosts
to our platform before the transition was complete, until our business model changed, most of our revenue was derived from what we refer
to as “short-term car rentals” and “vehicle subscriptions,” whereas, beginning in December 2021, a shift in our
business model occurred in connection with which “facilitation revenues” generated from bookings on our marketplace platform
began to represent an increasing proportion of our total revenues.

As of March 25, 2025, we
had [ ] shares of our Common Stock issued and outstanding. Except as otherwise
indicated, all share and per share information in this report gives effect to the Reverse Split effected on October 21, 2024, at a ratio
of 1-for-100, and on March 21, 2025, at a ratio of 1-for-20.

Standard Booking Flow

During
the nine months ended December 31, 2024, we operated a peer-to-peer car sharing platform in emerging markets across three countries and
generated revenues from bookings by our Guests of vehicles listed on our Zoomcar platform by our Hosts. Zoomcar receives a portion of
the associated booking fee charged to the Guest (less any credits or discounts applied), as well as platform fees charged to Guests and
Hosts and trip protection fees (which we refer to as “value-added fees”) charged to Guests. As further described below, other
fees charged to Guests, such as fuel charges, are paid fully to Hosts, who also receive a revenue share equal to approximately 60% of
booking fees and between 0% and 40% of certain other charges. We use our customized algorithm to price trips dynamically on the platform,
leveraging our data from the millions of miles driven on our platform to intelligently price the risks of trips and the market, incorporating
information about Guests informed by data we collect and Zoomcar management’s professional experience. While Hosts can opt to offer
bookings at prices