Close Menu
  • Academy
  • Events
  • Identity
  • International
  • Inventions
  • Startups
    • Sustainability
  • Tech
  • Spanish
What's Hot

Discord Invite Link Hijacking offers Asyncrat and Skuld Stealer targeted at crypto wallets

Ranking 5 casino games from the easiest to the hardest

Top 10 Startup and Tech Funding News for the Week Ending June 13, 2025

Facebook X (Twitter) Instagram
  • Home
  • About Us
  • Advertise with Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
  • User-Submitted Posts
Facebook X (Twitter) Instagram
Fyself News
  • Academy
  • Events
  • Identity
  • International
  • Inventions
  • Startups
    • Sustainability
  • Tech
  • Spanish
Fyself News
Home » Zevo’s EV-only Car Share Fleet helps Tesla owners make money
Startups

Zevo’s EV-only Car Share Fleet helps Tesla owners make money

userBy userJune 13, 2025No Comments4 Mins Read
Share Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Copy Link
Follow Us
Google News Flipboard
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Hebron Shah remembers the fantasies of 2019 when Elon Musk promised that Tesla’s car would become a Robotaxis. Shah is already a user of the car sharing platform, and the idea of ​​turning Tesla into an even bigger money maker was an appealing proposition.

But as the years went by, Musk was unable to follow that promise. So in 2021, Shah formed a small team and brought co-founder Saima Chaudhry to set up his own company. “Hey, we’re just trying to do this ourselves,” he thought at the time.

What they built was a new peer-to-peer car sharing startup called Zevo. This is broadly similar to the Turo, but focuses solely on electric vehicles.

The Dallas-based startup has been operating for about 10 months and announced its $6 million funding on Friday as it looks to expand in more U.S. cities. Sher told TechCrunch that Zevo has already tracked more than $8 million in annual recurring revenue (ARR) and has a waiting list of over 3,500 customers.

On the tenants’ side, the overwhelming interest comes from gig workers, Shah said. Approximately 90% of people using Zevo to rent EVs make passengers ferries and Doordash delivery via Uber or Lyft.

Shah said he believes Zevo has a secret source of “secret advantage for hosts and how to do carsing very affordable for renters.”

So what is the secret sauce?

“It’s going to sound crazy, but the secret sauce hasn’t raised hundreds of millions of dollars to build something that could become a strong market,” Shah said. “We very intentionally nurtured private capital, which is why we rejected VC capital. I didn’t want to be a 12-18 month runway of ‘expenditure, spending, spending, spending’.

Zevo’s bootstrap allowed Shah to bring together great engineers and develop strategies for a strong market, causing “real disruption.”

Shah said by focusing things, Zevo can send more money to the vehicle owner than he would ride a platform like Turo.

Shah also spoke about Zevo’s “contactless” process. This allows the owner and tenant to share the car without giving them keys or key cards.

It’s not novel. Many other car sharing services employ similar contactless processes. However, Shah argued that Zevo’s contactless nature is frontline and center, as the service uses only EVs.

This connectivity also makes it easier to integrate other important parts of the car sharing equation, like commercial insurance, Shah said. Removing such red tapes made the platform very attractive to gig workers, he said. Shah said one user compared Zevo to Metrop, a car rental.

“there is [usually] Many deficits: insurance cards, accidental, tolls, supercharges, bills, refunds. We were able to really automate all of that,” he said. Added, EVs tend to require less maintenance.

All of this results, Zevo is looking at the median rentals for about 80 days early. Meanwhile, the host can return between 35% and 65% of the car’s cost in just one year. With 90% of vehicles on the platform being Teslas, Shah is confident that from 2019 he will be able to find another way to fulfill his mask promise.

Of course, Tesla has finally become a cliff that launches Robotaxis services in Austin, Texas, and other US cities later this year. There are many unanswered questions about how the service works, whether Tesla’s autonomous driving software works safely, and how easy it is for owners to put their cars on the network. However, Tesla appears to be more close than ever to putting mask vision into testing.

But it doesn’t bother Shah. He said Zevo is focused on lasers on the destruction of Carsing and doesn’t want to ruin the riding piece Tesla wants. He believes Zevo can beat $100 million with just 30 staff and minimal future investments.

Even if Tesla could eat to the gig economy with the fleet of Robotaxis – this is a very big case – Shah said that masks need to find a way to make millions of cars already to meet the aggregate demand for vehicles and delivery.

“It’s enough for everyone here to be at the table,” he said.


Source link

Follow on Google News Follow on Flipboard
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Copy Link
Previous ArticleBrazilian Melluses raised $32 million to buy Bitcoin, becoming the country’s first “Bitcoin Treasury” Fintech
Next Article Amazon joins the massive nuclear party and buys 1.92 Golden Week for AWS
user
  • Website

Related Posts

New York passes bill to prevent AI fuel disasters

June 13, 2025

Clay will secure a new round at a $300 million valuation, sources say

June 13, 2025

New details appear on the scale of Meta’s $14.3 billion contract

June 13, 2025
Add A Comment
Leave A Reply Cancel Reply

Latest Posts

Discord Invite Link Hijacking offers Asyncrat and Skuld Stealer targeted at crypto wallets

Ranking 5 casino games from the easiest to the hardest

Top 10 Startup and Tech Funding News for the Week Ending June 13, 2025

New York passes bill to prevent AI fuel disasters

Trending Posts

Sana Yousaf, who was the Pakistani Tiktok star shot by gunmen? |Crime News

June 4, 2025

Trump says it’s difficult to make a deal with China’s xi’ amid trade disputes | Donald Trump News

June 4, 2025

Iraq’s Jewish Community Saves Forgotten Shrine Religious News

June 4, 2025

Subscribe to News

Subscribe to our newsletter and never miss our latest news

Please enable JavaScript in your browser to complete this form.
Loading

Welcome to Fyself News, your go-to platform for the latest in tech, startups, inventions, sustainability, and fintech! We are a passionate team of enthusiasts committed to bringing you timely, insightful, and accurate information on the most pressing developments across these industries. Whether you’re an entrepreneur, investor, or just someone curious about the future of technology and innovation, Fyself News has something for you.

Ranking 5 casino games from the easiest to the hardest

Top 10 Startup and Tech Funding News for the Week Ending June 13, 2025

Brazilian Melluses raised $32 million to buy Bitcoin, becoming the country’s first “Bitcoin Treasury” Fintech

Archer Airlines raises $850 million after Trump signs executive orders to support air taxis

Facebook X (Twitter) Instagram Pinterest YouTube
  • Home
  • About Us
  • Advertise with Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
  • User-Submitted Posts
© 2025 news.fyself. Designed by by fyself.

Type above and press Enter to search. Press Esc to cancel.