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Zoomcar Welcomes Deepankar Tiwari as CEO to Drive Next Phase of Growth

1. Zoomcar appoints Deepankar Tiwari as CEO, effective May 9, 2025. 2. Mr. Tiwari has 25 years of experience in automotive and mobility sectors. 3. Zoomcar aims to deepen market presence and enhance platform efficiencies. 4. Leadership change expected to unlock value for customers and shareholders. 5. Strategic focus includes expansion in emerging markets and user experience improvement.

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FAQ

Why Bullish?

Leadership changes often rejuvenate companies, leading to improved performance. Prior instances, like the changes in Lyft's leadership, have usually resulted in positive market reactions.

How important is it?

The leadership change is significant in shaping Zoomcar's strategic direction and growth potential, directly impacting investor sentiment and long-term value generation.

Why Long Term?

The new CEO’s vision for expansion and efficiency enhancement requires time to manifest in financial results, similar to how leadership shifts in long-term startups like Uber have shaped their trajectories over years.

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UBERLYFTODP
, /PRNewswire/ -- Zoomcar Holdings, Inc. ("Zoomcar" or the "Company") (OTCQX: ZCAR), the leading marketplace for self-drive car sharing in India, today announced the appointment of Mr. Deepankar Tiwari as its Chief Executive Officer, effective May 9, 2025. This change in leadership sets the stage for Zoomcar to deepen its market presence while driving strategic initiatives and elevating the user experience. Mr. Tiwari brings over 25 years of leadership experience in the automotive and mobility sectors. He spent more than two decades with the Tata Group, serving in various leadership roles within Tata Motors' Passenger Vehicle division, and later at Tata Sons, the Group's holding company. Following this, he led Vehicle Solutions and Business Development for the Asia-Pacific region at Uber Technologies until 2020. Since 2019, Mr. Tiwari has served as an advisor to Zoomcar India Private Limited, and since February 2025, he has been a board observer to the Company. "Deepankar's deep industry expertise, strategic mindset, and strong execution capabilities make him the ideal leader to take Zoomcar into its next chapter," said Uri Levine, Chairman of the Board. "His familiarity with the business and passion for mobility will help us scale new heights." "I'm excited to take on the role of CEO at such a pivotal moment," said Deepankar Tiwari. "Zoomcar has built a strong foundation in shared mobility, and I look forward to working with our talented team to unlock the next wave of value for our customers, partners, and shareholders." Under Mr. Tiwari's leadership, Zoomcar aims to deepen its presence in key emerging markets, enhance platform efficiencies, and reinforce its position as a category-defining leader in peer-to-peer car sharing. His extensive background in both corporate and entrepreneurial settings is expected to bring strategic focus, agile execution, and long-term value creation for the Company. About Zoomcar: Founded in 2013 and headquartered in Bengaluru, India, Zoomcar is a leading marketplace for self-drive car sharing focused in India. The Zoomcar community connects Hosts with Guests, who choose from a selection of cars for use at affordable prices, promoting sustainable, smart transportation solutions in India. Forward Looking Statements This press release contains forward-looking statements that are subject to a number of risks and uncertainties, many of which are beyond the Company's control. These forward-looking statements within the meaning under applicable law, can be identified by the use terms such as "may," "will," "aim," "empower," "estimate," "intend," "indicate," "continue," "promote," "believe," "boosting", "elevate," or "enhance," or the negatives thereof, as well as other variations or comparable terminology. We ask that you read statements that contain these terms carefully because we believe this information is important for our investors and customers. Any forward-looking statement in this press release refers solely to what is accurate as of the day it is issued or based on assumptions that Zoomcar believes to be reasonable. The actual results and outcomes may materially differ due to various factors or events beyond our control which may not be foreseeable at all times. We cannot guarantee or assure any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this press release can or will be achieved. We undertake no obligation to alter or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as required by law. Press Contact:[email protected] Investor Relations Contact:[email protected] Logo: https://mma.prnewswire.com/media/2517562/5182911/Zoomcar_Logo.jpg SOURCE Zoomcar WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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