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

Zevo is a Dallas-based peer-to-peer car-sharing startup founded in 2021 by Hebron Sher and Saimah Chaudhry, focusing exclusively on electric vehicles (EVs), primarily Teslas. The company emerged from Sher’s frustration with Elon Musk’s unfulfilled promise of Tesla robotaxis generating income for owners. Zevo has rapidly grown in about 10 months, raising $6 million in funding and tracking over $8 million in annualized recurring revenue, with a waitlist exceeding 3,500 customers. Most renters are gig economy workers using Zevo EVs for ride-hailing or delivery services, attracted by the platform’s affordability and streamlined, contactless rental process that leverages EVs’ technological capabilities. Zevo’s “secret sauce” lies in its deliberate avoidance of large venture capital funding, opting instead for private capital to maintain a sustainable growth model without excessive spending. This approach has allowed Zevo to offer higher earnings to vehicle owners—who can recoup 35%