Business model of Ola and Uber flawed, says Zoomcar CEO Greg Moran

Zoomcar has a fleet of 3,000 cars and plans to add another 5,000 vehicles in the next quarter

The business model of ride-share mobility firms such as Ola and Uber will keep them away from making money, says Greg Moran, the chief executive officer (CEO) and co-founder of Zoomcar, the country’s biggest self-drive mobility service provider.

According to Moran, these companies need to revisit their strategy.  “None of the mobility companies - Uber, Lyft, Didi, Grab or Ola — is profitable though they operate on a much larger scale (than Zoomcar). Their business model is fundamentally flawed,” he said, adding that his firm had managed to earn a profit in the third quarter of FY18.

Moran, who raised