Failure to Satisfy Listing Rule (Form 8-K)

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

As previously reported in the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission (the "Commission") on July 26, 2024, Zoomcar Holdings, Inc. (the "Company") received a notice from the staff ("Staff") of The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that for the previous 30 consecutive business days, the market value of publicly held shares for the Company was below the minimum $15,000,000 required for continued listing on The Nasdaq Global Market as set forth in Nasdaq Listing Rule 5450(b)(2)(C) (the "MVPHS Rule"). Under Nasdaq Listing Rule 5810(c)(3)(D), the Company was provided a period of 180 calendar days (or until January 21, 2025) to regain compliance with the MVPHS Rule. The Company did not regain compliance with the MVPHS Rule within the 180-day compliance period.

In addition, the Company is currently noncompliant with certain other continued listing requirements of The Nasdaq Global Market and presented a compliance plan to a Nasdaq Hearing Panel (the "Panel") on January 9, 2025.

On January 23, 2025, the Company received a further notice from the Staff, notifying the Company that its failure to regain compliance with the MVPHS Rule serves as an additional basis for delisting the Company's securities from The Nasdaq Stock Market, and that the Panel will consider this matter in their decision regarding the Company's continued listing on The Nasdaq Global Market. The notice provided that the Company has until January 30, 2025, to present its views with respect to this additional deficiency to the Panel in writing. The Company intends to timely present its plan of compliance to the Panel, which may include a transfer to The Nasdaq Capital Market. However, there can be no assurance that the Company's appeal of the Panel's delisting determination will be successful.