Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 43

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 43
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 and Guests do not perceive value in such new or upgraded
features, functions and technologies, Hosts and Guests may choose not to use our platform, which would adversely affect our operating
results.

We have made substantial
investments to develop new or upgraded features, functions and technologies, and we intend to continue investing significant resources
in developing new technologies, tools, features, services and other platform offerings. If we are unable to attract/retain and pay qualified
technical staff required to continue our platform feature development efforts, we may not realize the expected benefits of our developments.

There can be no assurance
that the new developments will exist or be sustained at the levels that we expect, or that any of these new developments will gain sufficient
traction or market acceptance to generate enough revenue to offset any new expenses or liabilities associated with these new investments.
Our development efforts with respect to new features, functions and technologies on our platform could distract management from current
operations and will divert capital and other resources from our more established functions and technologies. Even if we are successful
in developing new features, functions or technologies, or otherwise update or upgrade our platform, regulatory authorities may subject
us to new rules or restrictions in response to our innovations that could increase our expenses or prevent us from successfully commercializing
the new features, functions, technologies, updates or upgrades of our platform. If we are unable to adapt in a cost-effective and timely
manner in response to the changing market conditions or platform users’ preferences, either for technical, legal, financial or other
reasons, our business, financial condition and results of operations may be materially and adversely affected.

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We require additional capital to support current operations and will require additional capital to support the growth of our business, which may not be available on terms acceptable to us, or at all.

To continue current operations,
we will need to raise capital imminently. Further, to continue to effectively compete thereafter, we will require additional funds to
support the growth of our business. Our operations have consumed substantial amounts of cash, and we have incurred operating losses since
we began operating in 2013. While our cash consumption has been reduced following our business transition from short-term rental of vehicles
owned by or leased to Zoomcar to an online platform for peer-to-peer car sharing, we have consumed significant amounts of cash in effecting
such transition in terms of technology and platform innovation, and our cash consumption has varied over time.

Further, as a result of the