Zevo’s EV-only car-share fleet is helping Tesla owners make money

Zevo is a Dallas-based EV-only car-sharing platform that has raised $6 million in funding and achieved $8 million in annualized recurring revenue within 10 months. The startup focuses exclusively on electric vehicles, with 90% of renters being gig workers using the cars for Uber, Lyft, or DoorDash. Tesla owners can earn back 35-65% of their car's cost annually through the platform, with median rentals lasting 80 days. Zevo differentiates itself from competitors like Turo by offering higher payouts to vehicle owners, contactless processes, and automated handling of insurance, tolls, and charging.