Indian car rental startup Zoomcar has launched operations in Vietnam and Indonesia to secure a stronger footprint in Southeast Asia.
|Zoomcar continues its global expansion by entering the Vietnamese and Indonesiam car rental markets |
The move follows the company's recent expansion into the Philippines and Egypt. Zoomcar's Vietnam and Indonesia expansion will be led by Kiet Pham and Leo Wibisono Arifin, respectively.
With over a decade of experience in startup management, the newly-appointed leaders will play an important role in developing Zoomcar as the first-to-market car-sharing platform in Vietnam and Indonesia, as reported by newswire Outlook India.
Commenting on Zoomcar’s international expansion, company CEO and co-founder Greg Moran said that, “Indonesia and Vietnam have low levels of vehicle ownership but large, upwardly mobile populations creating a perfect opportunity for us. We look forward to benefiting from the country heads' experience of scaling up aggressively and building synergistic partnerships contributing to our growth in two countries."
Zoomcar, which was founded in 2013, is one of the best-known participants in India's car-sharing business, with over 7,000 automobiles on its platform. Users can rent automobiles by the hour, day, week, or month using Zoomcar.
According to the Vietnam Car Rental Market Outlook to 2021 study by Ken Research, the car rental market in Vietnam is fragmented and nascent, which provides immense opportunity to global and local players to take the lead with technology advancements in the car rental industry. Increasing traffic, lack of parking space, convenience, entry of players in the market and promotions and discounts offered to attract customers will be the key drivers for the growth of the car rental industry in the country.