Zoomcar launched Zoomcar Mobility Services (ZMS) to provide a diverse array of software-based platform services across the entire spectrum of vehicle categories ranging from 2-wheelers, 3-wheelers, 4-wheelers, trucks, and buses. ZMS will work across both internal combustion and electric vehicles and is fully hardware agnostic.
With the launch of ZMS, Zoomcar will now provide access to its state-of-the-art, proprietary tech stack which focuses on reducing operating costs, enhancing safety, increasing vehicle monetization, and improving customer engagement. ZMS comprises of two primary software offerings: IoT as a service combined with subscription as a service. The ZMS platform solution is geography agnostic and will help driveZoomcar’s international footprint while serving customers across 3 continents within the next year.
The launch of Zoomcar Mobility Services (ZMS) officially marks a significant extension of Zoomcar’s original Cadabra IoT platform launched in 2017. One of the key pillars of ZMS is the proprietary driver scoring mechanism, an AI Powered algorithm with machine learning capabilities that tracks the real-time driving behaviour of the customer along with the present health of the vehicle. The driver score in turn provides dynamic recommendations in real-time to help improve driving quality. Subsequently, the integrated software solution rates the driver on a scale of 0-100 and provides a customizable UI to help showcase the driver performance level over time.
The hallmark of the scoring system stems from its ability to provide real-time feedback to drivers in the event of rash driving to help them adjust their behavior accordingly. This improvement in driver behavior helps reduce accidents while also lowering maintenance and fuel bills. At an aggregate level, ZMS consistently observes monthly operating cost savings of 25-30% on account of the driver scoring system and associated behavioral modification mechanisms. Zoomcar’s recent agreement with ETOMotors highlights one such partnership within ZMS’ IoT as a service vertical. Zoomcar expects to onboard 50+ partners within the next year across the two-wheeler, three-wheeler & heavy commercial vehicle (Cargo & Passenger) segments.
Apart from IoT as a service, the other primary software vertical of ZMS is subscription as a service. This offering builds on Zoomcar’s own direct to consumer subscription business and allows OEMs and dealers to leverage Zoomcar APIs to directly sell vehicles on subscription to customers. As part of the offering, Zoomcar provides an end-to-end white-label experience for its OEM partners and includes a 360-degree mobile experience for the vehicle subscriber. Moreover, ZMS integrates its existing IoT as a service capability on the white-labeled mobile app to create a bundled offering to the OEM and the end subscriber. As part of its India-based offering, Zoomcar will also allow the OEM’s customers to ‘share back’ the vehicle on Zoomcar’s short-term rental platform to help reduce the monthly subscription obligation, thereby dramatically reducing the cost of personal vehicle access in India.
Zoomcar expects to onboard partners in 10+ countries over the next year and expects ZMS will constitute a meaningful percentage of the Company’s total revenue in the coming fiscal year.
Commenting on the latest development, Greg Moran, CEO & Co-Founder Zoomcar said, ‘’The mobility industry is going through a transformational phase globally due to the pandemic. At Zoomcar, we believe this is the ideal time to realize the second phase of our broader mobility vision that focuses on bringing disproportionate efficiency gains across the ecosystem through the adoption of innovative, product-driven software solutions. With ZMS, Zoomcar introduces a one-stop-shop mobility offering for OEMs and operators alike to help dramatically reduce operating cost while meaningfully increasing monetization opportunities at both the vehicle and customer levels.”