The development of superior technology has undoubtedly benefited the entire planet in many ways. Nowadays, it isn't easy to find a field where technology hasn't made an impact. Technology has made its mark, especially in online rental services and booking firms.
Online vehicle booking firms have made a huge move in the transportation industry in recent years, and more drivers are opting to lease rather than buy new cars as the sticker price of new vehicles continues to rise.
As more individuals opt for Ridesharing Services, the rising popularity of shared mobility is likely to lower worldwide automobile sales. However, car sales in emerging nations are expected to surpass the influence of shared transportation during the next 15 years.
Let's take a look at India's top 5 car-sharing, rental, and ride-hailing startups.
Top 5 ride-hailing and rental startups in India
Here are some of the leading car ride-hailing startups in India.
Ola, which was started in Mumbai in December 2010, is one of India's largest ride-hailing and sharing businesses, competing with Uber. Riders get access to free Wi-Fi when traveling with this transportation service. Ola provides taxis inside city limits, as well as outstation services and automobile rentals. They've also launched Ola Bikes, a bike taxi service in a few locations across India. Customers can also opt for auto-rickshaws, compact cars, sedans, prime, and premier SUVs as a mode of transportation.
Ola Cabs has almost 4,50,000 automobiles available for travel throughout India. Ola presently operates in 169 cities across India and has over 125 million registered users. The business just received $1.1 billion in a round funded by Tencent to bolster its fight against Uber in India.
This cab company started in India and has expanded its operations to Australia and New Zealand. The firm recently debuted auto-rickshaws in Liverpool, and it now operates in seven locations throughout the United Kingdom. Ola generated $360 million in income in 2020.
Tata Nexon EV and Orix
In January 2020, Japan-based Orix announced the beginning of their rental service to serve clients here with Tata Motors, responding to India's growing demand for passenger automobiles fuelled by economic growth.
Tata Motors debuted its Nexon electric SUV in January, and now the company has devised a subscription scheme for it, allowing customers to rent it for a set monthly rate. In India, the notion of a car subscription model is still gaining traction, and Tata might utilize it to boost the potential for electric vehicles shortly.
This option is only accessible in five metro cities: Hyderabad, Mumbai, Delhi, Bengaluru, and Pune.
A user must pay a Rs 50,000 one-time refundable security deposit as well as a monthly membership charge that varies by city and tenure term. Orix will install a complimentary EV charger and wiring up to 15 meters at the customer's location as part of the agreement. Wiring that is longer than 15 meters will be taxed at Rs 250 per meter. In 2020, it surpassed the 2000-unit level.
In 2013, Zoomcar was founded by Greg Moran and David Back In Bangalore. Zoom is India's first and only car rental company to provide a self-driving plug-in electric vehicle.
You may search for a car and upload your driver's license using the app or website. A security deposit is also required.
The firm provides you with the car details by SMS 20 minutes before pickup, and you may unlock it using the app. You may collect the keys from the glove box and drive to your destination after completing a checklist on the app. Fuel is paid for, so you won't be charged if you stop at a petrol station.
Zoomcar also offers a zero-pollution cycle rental service named Pedal.
The Mahindra Reva E2O is the newest addition to the Zoom fleet, and Zoom members may rent a car by the hour or by the day. The E2O can go up to 100 kilometers without recharging.
Mg Motors has teamed up with Orix and Zoomcar to sell a ZS EV on a subscription basis starting at Rs 49,999 per month in 2020. To your needs, You may lease the ZS EV for 12 to 36 months in Bengaluru, Pune, Mumbai, and Delhi. The automobile rental business has experienced tremendous development and now operates in 27 Indian cities.
Meru Cabs was established in Mumbai in April 2007. In 2014, Google Now and Meru Cabs teamed together to give consumers real-time warnings.
You may book taxis using the Meru app by selecting the car type and destination. Before the cab arrives to pick you up, you may view the cab and its estimated arrival time. You'll receive an e-bill after the ride, which you may pay with a card, cash, or the app.
Meru is a one-of-a-kind taxi service in that it does not charge spike pricing to its passengers. Instead, you and the driver may work out a price that works for both of you.
Due to their business strategy, over 12,000 drivers quit Ola and Uber in 2020 to join Meru Cabs, which generated $3.5 million in income.
Drivezy, an automobile rental platform similar to Zoomcar, was created in April 2015. The company is headquartered in Bangalore, Karnataka. You can self-drive to your location by renting a vehicle or riding a bike. Nagpur, Mumbai, Pune, Karnataka, Hyderabad, Manipal, Delhi, and more have Drivezy services.
If you are over 18, you may rent a vehicle or bike with variable pricing depending on the hour, day, or week. You can also choose between gasoline and filling your requirements. The greatest part is that no security deposit is required, and refunds and payments are processed instantly. The company's fleet includes 15,000 bicycles and 4,000 automobiles.
SoftBank, the world's largest technology investor, and Amazon, the world's largest e-commerce company, have expressed interest in investing $100 million in the platform. Drivezy reached a monthly gross sales volume of $4 million in 2020. Yamaha acquired Drivezy for $45 million in 2021.
Car-hailing and rental services are facing a slow reduction in the gross book value of online mobility spaces, which has climbed to $2.9 billion in 2020. The automobile rental business is still dominated by Ola and Uber. The market, on the other hand, is changing toward fast-expanding bike taxis and other developing models like carpooling. These firms will have to immediately improve their game if they want to continue in the online mobility business.
Which are the top Car ride-hailing startups in India?
Some of the top car ride-hailing startups in India are:
- Meru Cabs
Which cab service is best in India?
Some of the best cab service providers in India are:
- Ola Cabs
- Meru Cabs
- Savaari Car Rentals
- Fasttrack Taxi App
- Mega Cabs
- Tab Cab