UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40964 ZOOMCAR HOLDINGS, INC. (Exact name of registrant as specified in its charter) | --- | --- | |------------------------------ ...

Confirms expansions to 100+ fulfillment centers with 1000+ car additions by December 2024 BENGALURU, India, Aug. 9, 2024 /PRNewswire/ -- Zoomcar, Zoomcar Holdings, Inc. ('Zoomcar' or the 'Company') (NASDAQ: ZCAR), the NASDAQ-listed leading marketplace for self-drive car sharing, has successfully launched their first Fulfillment Center in Chennai with plans to add 100+ centers and 1000+ cars by December 2024. These Fulfillment Centers are operated by 3rd party service providers who are verified, trained and ...

BENGALURU, India, Aug. 6, 2024 /PRNewswire/ -- Zoomcar, Zoomcar Holdings, Inc. ('Zoomcar' or the 'Company') (NASDAQ: ZCAR), the NASDAQ-listed leading marketplace for self-drive car sharing, has launched a new unified app designed to enhance the car sharing experience for both Guests and Hosts. This app replaces the previous two-app system, streamlining operations and introducing over 10 feature upgrades aimed at boosting platform growth and user satisfaction. Key Features and Enhancements: Unified App Exper ...

Market Potential - The estimated serviceable addressable market for Zoomcar in emerging markets is approximately $20 billion by 2025, assuming a penetration rate of less than 25% among potential customers [59]. - The total addressable market is projected to reach approximately $90 billion by 2025, reflecting broader adoption across potential customer bases in 25 target countries [64]. - Zoomcar's platform is expected to expand its customer base to 75 million Guests by 2025, based on demographic criteria including urban residency and income levels [63]. - The company estimates that by 2025, 310 million people across target emerging markets will meet its core demographic criteria, with 24% expected to engage with the platform [63]. Revenue and Financial Performance - Currently, 99% of Zoomcar's revenue is derived from operations in India, with plans to focus investments in this market [59]. - Zoomcar's revenue share of total gross booking value (GBV) is estimated to be around 45% [63]. - For the year ended March 31, 2024, 40% of Gross Booking Value (GBV) was generated by trips booked with SUVs or other premium-segment vehicles [67]. - 85% of GBV was generated from vehicles ranked among the 20 top-selling new vehicle models within the markets where Zoomcar operates [67]. - A hypothetical 5% adverse change in the value of Indian Rupee against the U.S. Dollar would decrease total revenue by approximately $0.46 million and net loss by $1.04 million for the year ended March 31, 2024 [439]. Customer Experience and Platform Features - The platform aims to provide a cost-effective alternative to personal car ownership, which is often prohibitively expensive in emerging markets [66]. - The platform allows Guests to customize their vehicle usage, with longer trips (over 15 miles) representing the majority of bookings [67]. - Zoomcar's technology leverages data science and machine learning for real-time dynamic pricing and enhanced protection through image recognition [68]. - The pricing engine is highly dynamic, allowing Hosts to set minimum and maximum prices for their listings, optimizing their earnings [71]. - The platform's affordability is highlighted as a better value proposition compared to traditional chauffeured car services [72]. - Zoomcar's rating and review system enhances the search experience, promoting highly rated Hosts to improve booking conversion [73]. - The platform facilitates 24/7 GPS monitoring of vehicles, critical for roadside assistance and emergency resolution [80]. - The platform aims to create a seamless experience for Guests, with 24/7 support and a frictionless booking process [97]. Host Engagement and Monetization - Hosts can generate income from underutilized vehicles, with the platform designed for ease of use in creating accounts and adding listings [82]. - Entrepreneurial Hosts, who list 2 to 10 vehicles, contribute to a majority of Zoomcar's bookings and overall business volume despite being a minority of active hosts [10]. - The platform provides tools for Hosts to manage listings, including performance analytics and demand heat maps, to optimize income generation [93]. - Zoomcar's marketplace allows Hosts to monetize underutilized vehicles, potentially generating significant income compared to average annual income in emerging markets [10]. - Less than 1% of all Zoomcar Hosts are classified as Professional Hosts, who typically list more than 10 cars and often supplement offline rental operations [10]. Operational Focus and Strategy - The company has ceased operations outside India as of the date of the report, focusing on maximizing revenue within its primary market [59]. - The company plans to enhance platform functionalities and improve core product offerings to capture additional bookings and increase organic traffic [111][112]. - Zoomcar aims to expand its high-quality vehicle listings and enhance post-booking engagement to stimulate further Guest interaction and bookings [112]. - The company is focused on strategic partnerships with adjacent businesses to broaden its distribution and improve brand awareness among potential Guests [112]. - Zoomcar's marketing strategy includes partnerships with dealerships and service centers to offer preferential financing and service packages to Hosts [113]. Regulatory and Financial Risks - The company is subject to various complex regulations in India, which could impact its business model and operations [124]. - The company is exposed to foreign currency risks primarily related to revenue and operating expenses denominated in currencies other than the U.S. Dollar, particularly Indian Rupees [439]. - Fluctuations in foreign currency exchange rates have not had a material effect on the company's business, results of operations, or financial condition [439]. - The company translates the financial statements of its foreign subsidiaries into U.S. Dollars, which may result in gains or losses recorded as a component of accumulated other comprehensive income (loss) [440]. Employee Engagement and Workplace Culture - The company routinely solicits employee feedback through engagement activities and an annually administered employer net promoter score (eNPS) survey [132]. - The company emphasizes a workplace culture guided by "Five Commandments" to strengthen employee bonds and enhance performance ratings [136]. - As of March 31, 2024, Zoomcar employed approximately 191 full-time employees, with 20.94% identified as women [128][129]. Environmental Impact - Zoomcar's business model promotes sustainability by reducing the total number of vehicles needed to meet transportation demands in emerging markets [106]. - The platform currently has approximately 26,262 Host vehicles registered, which could potentially reduce aggregate CO2 output by 115,500 to 266,700 metric tons annually [108].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to INNOVATIVE INTERNATIONAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) (Former name, former address and forme ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to INNOVATIVE INTERNATIONAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) Cayman Islands 001-40964 98-1630742 (State ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to INNOVATIVE INTERNATIONAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) Cayman Islands 001-40964 98-1630742 (State ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-40964 Innovative International Acquisition Corp. (Exact name of registrant as specified in its charter) | Cayman Isla ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to INNOVATIVE INTERNATIONAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) Cayman Islands 001-40964 98-1630742 (S ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to INNOVATIVE INTERNATIONAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) Cayman Islands 001-40964 98-1630742 (State ...