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Indian automobile
rental start-up Zoomcar eyes Vietnam as a significant Southeast Asian market to take
benefit of the rising demand for automobile possession amongst its increasing center
class.
Vietnam is about to account for 10 per cent of
Zoomcar’s revenues within the subsequent monetary 12 months, which interprets to $8M, Kiet
Pham, Vice President and Nation Director of Zoomcar Vietnam mentioned.
In Southeast Asia, the corporate is specializing in
Indonesia and Vietnam, and plans to take a position $100M within the two nations. In
Vietnam, it has round 1,000 vehicles for lease, or 10 per cent of its whole world
quantity. To realize the quantity, Zoomcar has been giving out massive rewards to automobile
homeowners to checklist their autos on its platform. An proprietor who listed through the
four-day vacation earlier this month obtained $131.
Zoomcar can also be keen to burn money to
change Vietnamese shoppers’ behavior and make them conversant in renting vehicles. Kiet
mentioned the corporate is keen to spend $25M to develop its presence in Vietnam. It
has raised $207M since its institution.
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