Vamos - Cab transportation platform for Latin America
Jan 15, 2024
Problem Statement
In Chile, the current transportation industry contributes significantly to environmental pollution and carbon emissions. Additionally, many drivers struggle to afford electric vehicles (EVs) for their cab services, while investors lack accessible opportunities to invest in carbon bonds.
Objective
The objective of the EV cab app is to provide a sustainable solution to the transportation industry by facilitating the rental of electric vehicles for cab services and offering opportunities for investors to invest in carbon bonds. This will ultimately contribute to the reduction of carbon emissions and environmental pollution, while also promoting the adoption of electric vehicles in the transportation sector.
Pain Points
Drivers
Affordability issue from driver to own the car.
Government new regulations will make the car redundant for some drivers.
Inconsistency of earnings.
For Electric Vehicles there is a lack of Charging Infrastructure
Riders
Expensive charge for the trip
Lack of comfort in the car
Pollution from Gasoline cars
Government
Resistance from citizens and Riders for policy to ban cars having a life value of more than 10 years and as per engine size.
For the environmental cause by 2035, the government will be banning all Gasoline-based cars.
The need to be carbon neutral by 2050 is a member of the Paris Agreement.
Investors
Lack of fixed investment opportunity
Lack of Green Investment Opportunity. Limited opportunity for environmentally friendly investments.
Less opportunities to invest in climate change & reducing carbon footprint.
Vehicle Manufactures
Growth of Sales of Electric Vehicles is stagnant.
The charging infrastructure is not there.
User Stories
Driver
As a Vamos cab driver struggling with affordability issues to own a car, I want the cab riding app to introduce a financing program that helps drivers own their vehicles, making it more accessible for drivers with financial constraints.
As a Vamos cab driver, I am concerned about the new government regulations that might render my car redundant. I wish the cab riding app would provide timely updates and guidance on compliance, ensuring a smooth transition and minimizing disruptions to my earnings.
As a Vamos cab driver using an Electric Vehicle, I am troubled by the lack of charging infrastructure. I hope the app collaborates with charging station networks to expand the infrastructure, ensuring seamless operations for electric vehicles.
Rider
As a Vamos rider, I often find the charges for EV trips to be expensive. I wish the app would introduce more transparent pricing structures to make rides more affordable.
As a Vamos rider, comfort during the ride is essential to me. I would appreciate it if the app introduced a feature to choose between different vehicle types based on comfort preferences.
As a Vamos rider concerned about pollution from gasoline cars, I would like the app to prioritize electric vehicles in the fleet, promoting a more sustainable and eco-friendly transportation option.
Government
As a government representative facing resistance from citizens and riders regarding the policy to ban cars older than 10 years, I wish the app would educate users on the environmental benefits of such policies and highlight the positive impact on air quality.
As a government representative, I am working towards the goal of banning all gasoline-based cars by 2035. I would like the app to support and actively contribute to this initiative by gradually phasing out gasoline cars from its fleet.
As a government representative aiming for carbon neutrality by 2050, I hope the app aligns its operations with this goal, adopting eco-friendly practices and encouraging the use of electric and hybrid vehicles.
Investor
As an investor interested in green and environmentally friendly investments, I would appreciate it if the app creates opportunities for investments in sustainable transportation solutions, such as electric vehicles and charging infrastructure.
As an investor focusing on climate change and reducing carbon footprint, I hope the app introduces initiatives like carbon offset programs, making it an attractive investment option for those dedicated to environmental causes.
Manufacturer
As a vehicle manufacturer experiencing stagnant sales of electric vehicles, I wish the cab riding app would collaborate to promote and incentivize the use of electric vehicles among its drivers.
As a vehicle manufacturer, I am concerned about the lack of charging infrastructure. I hope the app works in partnership with charging station providers to establish a robust infrastructure, promoting the adoption of electric vehicles.
High-Level Solution
Driver
Rider
As a rider, I will be able to book an electric cab from Vamos at an affordable fare. Electric vehicles are low in noise, making my ride comfortable and also reassuring me that they cause less harm to the environment.
Investor
As an investor, I will be able to invest in green bonds to benefit from yields of up to 10%.
Features & Functionalities
Fixed Investment option for investors through Green Bonds
This part is dedicated to an Investor who is willing to invest in Green Bonds. Investors will be getting a yield of 10% per annum.
Total Green Bonds Units Issued
Investors can view the overall quantity of green bond units that have been introduced.
Available Bond Units
Insight is provided into the current availability of bond units.
Unit Price
Investors can access information regarding the cost per bond unit.
Minimum Purchase Quantity
Details on the minimum quantity that investors are required to purchase for participation.
Maximum Purchase Limit
Investors will find information about the upper limit on the number of bonds they can acquire.
User Inputs
Number of Bonds Units to Purchase
Upon entering the desired quantity, the system will dynamically validate and provide feedback to the investor.
Inactive State (Below Minimum)
If the input falls below the minimum required quantity, an alert in red will prompt the user: "Input quantity is below the minimum. Please purchase at least X units."
Inactive State (Above Maximum)
If the input exceeds the maximum allowed quantity, an alert in red will appear: "Input quantity is above the maximum. Please purchase less than Y units."
Total Amount to be Paid
Upon entering the bond units, the system will calculate and display the total amount required to purchase the specified quantity of green bonds.
Modes of Payment
Investors will be presented with various payment options, allowing them to select their preferred method. Each option will be a clickable link redirecting them to the respective payment page.
After Payment Scenario
Payment Successful - If the payment is successful, investors will receive an email confirmation, and a pop-up will appear indicating the number of units purchased.
Payment Rejected - In case of payment rejection, a pop-up message will notify the investor: "Due to unforeseen reasons, your payment was rejected. If the amount has been debited from your account, it will be credited within 7 working days."
Rent EV cars
Due to recent Regulations over minimum engine size and the maximum age of cars will prevent many drivers from working in the cab industry, this will also reduce the number of cabs available in the market which will create difficulty for Riders.
Drivers Will be able to rent an Electric Vehicle on a daily basis from the Vamos. Rent will be decided as per their driving Distance.
Benefit for Chile
Chile is the leading producer of Lithium which is a major component of Electric vehicles.
Creating an all-electric vehicle: This is not only environmentally friendly by cutting car emissions as well as capturing the lucrative battery supply chains domestically.
Steps to rent an EV vehicle from Vamos
Driver registration and verification
For working as a driver with Vamos, the user signs up on the app and shares his details like ID, DL, etc. After verification and background check, his account is confirmed.
Driver logins into his account
After confirmation, he can start working as a driver with Vamos.
Driver requests to rent an EV vehicle
Driver selects the type of vehicle from the available options based on his/her location.
He agrees to pay a daily rent to the company based on the “ More distance less Rent “ model: The driver’s daily rent will be based on the driving target achieved by him in a day. More Distance covered by the driver will result in less rent paid and vice versa. Driver’s Target will be decided as per geographical area, type of vehicle, etc
Driver picks up the vehicle from designated Vamos outlet
The app shows the nearby outlets where he can retrieve the vehicle based on the driver’s location. After physical ID verification, he can fetch the vehicle from there after vehicle inspection.
Driver targets to lessen his daily rent
We can show the dashboard to the driver where he will get all the mentioned below information:-
Rent Status.
This part will come on top where he could see how much rent he will be paying at the EOD.
Total Kilometers Driven.
The total number of kilometers that a driver has driven will be shown in this section. Point to Note: The number of kilometers driven will be shown daily.
How Far away he is from his target.
In this section, the driver will be getting insight into how many kilometers he is far away from his target.
Information Like:- You are 25 km away from reducing your daily EV rent from 16000 to 12000 Chilean pesos.Target which he needs to be achieving.
We will be showing the targets of driving an EV which he can achieve and reduce his daily rent. Currently he will get 3 targets which are:-
More than 250Kms he will be paying 7000 Chilean Pesos.
Driver who drives in the rane of 150-249 Kms will be paying 12000 Chilean Pesos.
Driver who drives less than 150Kms will be paying 16000 Chileans Pesos
Drivers in challenging terrains have reduced targets for equality
Booking a ride with Vamos :
Setting Availability for a ride :
The driver logs in to his account and sets up his availability for the ride. He can choose when and where he wants to accept rides.
Accepting Rides:
Driver Receives ride requests through the app. He can accept or decline based on availability and location.
Navigation:
Once a ride is accepted, the driver uses in-app navigation to reach the pick-up location.
Picking Up the Passenger:
The driver confirms the passenger's identity using the app and picks them up at the designated location.
Starting the Ride:
The ride begins in the app once the passenger SHARES THE OTP. The app will start tracking the trip thereon.
Navigation to Destination:
Driver Follows the in-app navigation to reach the passenger's destination.
Ending the ride:
The driver ends the trip in the app on reaching the destination. Fare details are automatically calculated.
Payment:
Passengers can either pay in cash or pay through the app, and earnings are deposited into driver’s linked bank account weekly.
Rider review:
After completing a ride, a driver can provide a rider review, share feedback, and rate their passengers based on their experience during the trip.
Finding the nearest charging points
When the driver wants to charge his vehicle he can use the Vamos app to locate the available charging stations based on his location. The steps involved are as follows
Selecting Charging Point Feature
The driver looks for the "Find Charging Points" option in the app.
Map Display:
The app displays a map with nearby charging points marked, based on the driver’s location.
Filtering Options:
Driver uses available filters to narrow down the search based on charging station types, availability, and compatibility with the EV.
Selecting Nearest Charging Point:
The driver chooses the closest charging point on the map and selects it. He is given details such as charging speed, availability status, and any associated costs.
Navigating to Charging Point:
Driver uses the in-app navigation to reach the selected charging point.
Confirming Arrival :
The driver confirms arrival at the charging point through the app.
Charging Process:
The driver follows the instructions provided by the app for initiating and completing the charging process at the station.
Monitoring Charging:
The driver keeps track of the charging progress through the app.
Completion and Payment:
Once the charging is complete, the driver uses the app to mark the end of the charging session.
Payment for charging:
The associated costs are paid through the app.
Returning to Service:
After charging, the driver sets availability for rides again and continues offering cab services.
The payout for Driver :
Driver’s earnings are based upon the distance traveled based on the “ More distance less rent model “ explained above. These earnings are credited to his account involving the following steps:
Weekly Earnings Accumulation:
Driver Completes rides and accumulates earnings through the app. Rent is adjusted based on the distance covered per day.
Checking Earnings Summary:
Driver reviews earnings summary in the app, which includes details of each trip, rent, incentives, and any additional earnings.
Bank Deposit Information:
Driver provides accurate and up-to-date direct deposit information, including your bank account details, in the app.
Payment Processing:
Vamos initiates the payment process, transferring earnings to the linked bank account.
Weekly Summary Email:
Driver receives a weekly summary email from Vamos, detailing the earnings, rent, and other relevant information.
In-App Support:
If there are any discrepancies or issues with the earnings, the driver can use the in-app support feature to contact the Vamos support team
Book EV Cab For Rider
In Vamos, for the riders, we will be having a different app that will allow them to ride EV cabs. Here are the core functionalities that need to be built:-
User Registration
Users sign up with mobile numbers & email for seamless access. Secure, one-time verification ensures a smooth onboarding process, enabling account creation and personalized services.
Booking Process
Select pick-up and destination locations effortlessly. Streamlined UI allows users to rent EV vehicles from Vamos, promoting a user-friendly experience in booking rides.
EV Cab Options and Fare
Choose from various EV cab types with transparent fare details displayed. Empowering users with informed choices for cost-effective and eco-friendly transportation.
Waiting Time Information
Real-time waiting time updates keep users informed. Enhance user satisfaction by providing accurate estimations, and optimizing travel planning and overall ride experience.
OTP Ride Activation
Ensure security with OTP-based ride activation. Users receive a one-time password for initiating the ride, safeguarding against unauthorized usage and enhancing overall ride safety.
SOS Feature
Prioritize safety with an SOS button. In case of emergencies, users can swiftly contact authorities, ensuring a robust safety net for both passengers and drivers.
In-App Payment Options
Facilitate hassle-free transactions with in-app payment options. Diverse payment methods empower users to settle fares seamlessly, enhancing the convenience of the overall experience.
Driver Rating System
Allow users to rate drivers for a constructive feedback loop. Enhance service quality and accountability by providing users with the opportunity to share their ride experience through a simple rating system.
Vamos Prototype:-
Key Performance Indicators (KPIs):
Number of EVs Procured by Senator: Reflects the success of fundraising efforts and the expansion of the EV fleet.
Driver Trip Completion Rates: Measures driver engagement and satisfaction with the incentive model.
This business model integrates environmental sustainability, government initiatives, and driver incentives, creating a holistic approach for Vamos to thrive in Chile's EV cab industry while providing benefits to riders, drivers, the government, investors, and the environment.
Key Metrics
North Star Metric - No. of rides per week
Driver:
Average rides per day
Average earnings per day
Average trip acceptance rate
Average driver rating
Total distance traveled per week
Retention rate of driver
Rider:
Average rides booked per week
Average price per ride
Total money spent per week
Average waiting time
Average trip duration
NPS
CSAT
Investor:
No. of subscribers of bond
Amount of investment received
Credit Rating
Volatility of bond
Conclusion
In summary, the PRD outlines a strategic plan for Vamos, a cab transportation platform in Chile, aiming to address environmental concerns, driver affordability, and government initiatives for sustainable transportation.
The proposal includes integrating electric vehicles, introducing Green Bonds, and establishing the special purpose vehicle, Senator, aligning with Chile's electromobility strategy.
The business model fosters collaboration between drivers, the government, investors, and the platform, paving the way for a successful and eco-friendly EV cab industry.
The outlined features, metrics, and scaling opportunities provide a clear roadmap for implementation, positioning Vamos as a key player in Chile's evolving transportation sector.
References
Same driver for attending the Cab between two common places.
Re-brand Uber relative to Local Audience.
EVCars - Business Model - MoU between Companies and Govt, subsidy to user, drivers etc., Investor, FDI increments, Ease of Doing Business,
Eco-friendly
Chile’s National Electromobility Strategy
https://cleantechnica.com/2023/04/23/ev-development-in-chile/
https://www.statista.com/statistics/1135054/number-electric-vehicle-wholesale-sales-chile/
https://www.bnamericas.com/en/news/pioneering-study-outlines-chiles-electric-car-market-challenges
https://energia.gob.cl/sites/default/files/estrategia_electromovilidad-8dic-web.pdf
https://www.iea.org/reports/global-ev-outlook-2021
https://www.cbsnews.com/news/electric-vehicles-clean-power-grid-limit-global-warming/
https://www.investchile.gob.cl/key-industries/energy/
