Fleet Management Agreement – Nashville, Tenn. – Bridgestone Americas Inc. Continue to develop sustainable solutions – what he called “the backbone of the company’s best strategy” – by agreeing to acquire Azuga Holding Inc.’s fleet management platform Sumeru . Equity Partners, Danlaw, Inc. and other members for $391 million.
Both board members approved the deal, which is expected to close by the end of the third quarter.
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Based on customer satisfaction and regulatory approval, Bridgestone will acquire ownership of Azuga’s brands and business platforms.
Zeeba Signs Binding Agreement To Purchase 3,000 Canoo Electric Vehicles
The Azuga fleet management platform includes advanced security and fleet management tools, the tire maker said, adding to its current portfolio of cloud-based solutions. Bridgestone said the Azuga will enhance Bridgestone’s ability to accommodate both small and large commercial vessels.
According to Bridgestone, the platform provides real-time analysis of vehicle performance and data analysis, which will improve safety, increase efficiency and improve customer experience. . Bridgestone said it plans to use Azuga’s “powerful data capture platform” to power Bridgestone’s tire products and technical solutions.
Paolo Ferrari, President and CEO, Bridgestone Americas, as well as Global Marketing Director, Bridgestone Corp., said the company “works to deliver the best solutions for safer and more efficient, and Azuga will help us to accelerate their . . development and delivery to our customers.”
Azuga, founded in 2012, has developed a fleet management platform that includes GPS tracking, video telematics, driver behavior management and accident solutions for insurers. Bridgestone said that these attributes are important for fleets and insurers by improving safety, as well as reducing fuel consumption and reducing wear and tear on vehicles.
Bridgestone To Acquire Azuga Holding Platform
According to Bridgestone, Azuga has more than 6,000 commercial customers in North America, including commercial fleets, insurance companies and government agencies.
Azuga will retain its headquarters in Fremont, California, and all Azuga employees and facilities in the US and India will join Bridgestone after the transaction closes.
“Bridgestone’s focus on building a better future through technology aligns well with Azuga’s mission,” said Azuga CEO Anant Rani. “Together, our team will build on the strength we have already built and accelerate our approach to deliver the best solutions for our customers and society.”
Mark Haller, managing director of Sumeru Equity Partners, said that since his company invested in Azuga in 2018, it has been “an industry leader in fleet management and solutions . . year, and we look forward to seeing Bridgestone and Azuga thrive together in the future.”
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This is the second acquisition in less than two months in the space. In mid-June, Bridgestone Americas announced an investment in self-driving car company Kodiak Robotics Inc. The investment, Bridgestone said, gives it the ability to use its smart tire sensor technology for Kodiak’s Level 4 autonomous vehicle currently operating in Texas.
PJT Partners is the financial advisor to Bridgestone and Hogan Lovells is the legal advisor. Barclays is Azuga’s financial advisor and Gibson Dunn is its legal advisor.
Do you have any thoughts on this story? Have an opinion you want to share with our readers? Tire Business wants to hear from you. Send your letter to the editor to Don DeTore at [email protected]. JUSTIN, Texas – (October 11, 2022) Canoo (NASDAQ: GOEV), the leading advanced mobility company, and Zeeba, a nationally growing business company, have signed for the contract to buy 5,450 US-made electric vehicles from Zeeba, with an initial contract of 3,000 units from 2024 to the year Zeeba will add Canoo Lifestyle Delivery Vehicles (LDV) and Lifestyle Vehicles (LV) fleet for its long-term lease. .
“We have a large, growing contract book, are meeting our multi-year allocation for 2023 customer deliveries, and will share our production plans with the wider industry in the future next,” said Tony Aquila, Canoo’s chairman and CEO. “This decision is another step in validating our product and concept. Small and medium-sized businesses (SMBs) are the basis of our existence, employing approximately half of the Americans.
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And they are Zeeba’s target customers. We put technology first and offer class-leading ergonomics, a small car footprint for the ratio of payment and platform use, while achieving less carbon per person answering phones and a higher return on investment, all to help SMBs compete.
Canoo vehicles are American-made Class 1 electric vehicles built on the company’s innovative Multi-Purpose Platform (MPP) architecture that integrates all the essential components. Most services, maintenance and upgrades will be done by air, reducing the time of the vehicle.
Designed and engineered with the driver in mind, Canoo vehicles feature a panoramic front window to improve visibility and use true drive-by-wire technology, resulting in a usable space. more interior and better driving ergonomics. Feedback from our recent deliveries confirmed the excellent customer experience in terms of ride, cabin comfort, visibility and functionality, as well as users have never seen ergonomics.
The LDV offers 120 cubic feet of cargo space with an 80kWh battery pack with the handling and turning radius of a small car, making it safer and more familiar to drivers. The LV is a people and cargo vehicle with a passenger configuration and the same battery pack, visual and handling characteristics as the LDV due to its shared platform.
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Zeeba provides simple and affordable solutions so that SMEs can focus on their products and customers and not worry about moving. The modular design of the Canoo LDV and LV allows Zeeba to offer customer-specific configurations that can be adapted for different uses throughout the vehicle’s life.
“We are excited to be able to deliver Canoo machines to our future customers.” We are focused on providing the best solutions and recognize Canoo vehicles as leaders in technology-driven sustainability. We also want to ensure the delivery of EV vehicles for the next year,” said Kayvon Marashi, CEO of Zeeba Automotive Group, Inc.
Zeeba offers customers the opportunity to help them run their business effectively and efficiently and plans to achieve at least 50% electricity by the first quarter of 2024.
“LDV & LV will be a game changer for the businesses we serve. Canoo technology will enable our SMB customers to be more efficient and manage their business and reduce their carbon footprint. Zeeba has a goal of excellent energy efficiency and we want to achieve leadership in aircraft technology,” said Mike Paletz, Zeeba Chief Operating Officer .
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Zeeba will deliver Canoo LDVs and LVs to its SMB customers looking for customizable options in setting up their boats, while achieving sustainability goals and benefiting from the competition operating costs. LDV & LV will be used by customers in the field of last mile delivery, mobile goods, hail, food delivery, commercial business etc.
Canoo’s mission is to bring electric cars to everyone. The company has created electric cars that are reinventing cars with new innovations, pioneering technologies and unique business models that extend the entire life of the car. Distinguished by its experience of technology companies and car manufacturers, Canoo has created a modular electric system designed to deliver the highest quality interior cars to suit the owner across the vehicle life to support a variety of vehicle applications for consumers and businesses. .
Canoo has teams in California, Texas, Michigan, Oklahoma and Arkansas. For more information, visit www.canoo.com. For Canoo information, including photos, please visit . For investors, please visit www.investors.canoo.com.
Zeeba is a large company based in Los Angeles, CA. Zeeba is a fleet management company that provides its clients with services that enable them to run their business effectively and efficiently. Zeeba’s products include full service, truck and towing/rental, service and maintenance, and used car sales. Visit www.zeebavans.com for more information.
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The information contained in this release constitutes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be qualified by using words such as “forecast.” ,” “miss” “project” “forecast” “expect” “will” “hope” “hope” “believe” “seek” “goal” or any other similar expression that indicates or indicates the future events or trends but not historical statements. These forward-looking statements include, but are not limited to, statements regarding financial performance and performance estimates and forecasts, expectations and timelines related to the production and the execution of important tasks, including the ability to meet and / or make products quickly. Time, Canoo’s ability to capitalize on business opportunities, current or prospective customer orders and anticipated site development. These statements are based on various assumptions, although not stated in this release, and the current expectations of Canoo’s management and are not predictions of actual performance. . THE FOREGOING STATEMENTS ARE PROVIDED FOR ILLUSTRATION ONLY AND ARE NOT CONSTITUTED BY, AND SHOULD NOT BE RELIED UPON BY, ANY BUSINESS PARTNER AS A WARRANTY,
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