Zoomcar holds the distinction of being India’s first self-drive mobility platform, with the introduction of car sharing services in 2013 and the introduction of cycle sharing services in 2017. With a strong focus on the mobile experience, Zoomcar allows users to rent cars by the hour, day, week, or month. Cycles can be rented in increments of 30 minutes. Founded in 2013 and headquartered in Bangalore, Zoomcar operates in nearly 45 cities across India. In 2017, Zoomcar introduced India’s first peer2peer based marketplace for cars with the launch of ZAP. In February 2018, Zoomcar inaugurated India’s first car subscription program under the ZAP umbrella.
Greg Moran is the Cofounder & CEO of Zoomcar. Greg worked in various financial, operational, and strategic roles within the international energy and infrastructure sectors. Prior to co-founding Zoomcar, Greg studied at USC’s Marshall School of Business, where he was the Founder and President of the USC Energy Club, Southern California’s largest such club. Greg is also a graduate of the University of Pennsylvania, where he holds a degree in International Relations.
In an interaction with IncubateIND, Greg Moran talks about how artificial intelligence is driving the future of autonomous cars. Read on!
Tell us something about the Business Model of ZoomCar?
We’re the first managed mobility marketplace globally to focus on subscription + fractional sharing peer2peer. We’re also the first company to do car subscription in India and the first company to do fractional sharing P2P in India.
Are self-driving cars the future of transportation?
Self-drive will play a very critical role in the future of transportation in India and globally. Car ownership simply can’t scale to the same % penetration in India as it did earlier in the US, Europe, or in China. As such, self-drive rental will form a pivotal backbone for the future of Indian mobility.
How Artificial Intelligence is driving the future of autonomous cars?
Artificial Intelligence is an essential enabler for autonomous cars given the inherent complexity of the problem statement. Deep learning technologies are required to learn the surrounding environment and this is best done through AI. AI’s applications extend to use with cameras, radar, and LIDAR, all critical components for the advancement of autonomous cars.
How IoT based ride sharing could change the way we drive?
IoT already plays an important role in mobility today. For self-drive, IoT will totally change the game as it will significantly improve people’s driving in the future. With the help of real-time driving score data, companies can better leverage this data to send early warning messages to drivers to course correct their behavior. Moreover, IoT can help better integrate the driving behavior into the cost of the actual booking, thereby making individuals more aware of their driving habits. This has a very positive long term effect.
How Big Data Analytics can help car rental companies?
Big data analytics is very helpful for car rental companies since it allows the company to better personalize its re targeting and create more impactful loyalty programs. This helps ensure better customer stickiness by potentially increasing the switching costs for that particular customer. Big data really helps companies connect much better to their customers in a far more relevant tonality and messaging. Overall, it allows companies to ensure their building more relevant products for their customers.