<ul><li>Zoomcar, the self-drive car sharing platform, is undergoing debt restructuring to reduce its outstanding debt of approximately $31 million.</li><li>The company has negotiated with lenders and vendors to reduce 75% of their immediately payable debt, either allowing a deferred payment schedule of up to 24 months or reducing payouts by up to half in the short term.</li><li>The debt restructuring aims to decrease cash outflow and invest in strategic initiatives for long-term sustainability and value for all stakeholders. Zoomcar plans to finish the exercise by November 2024.</li></ul>

Zoomcar announces debt restructuring with focus on financial stability

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