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The Tesla Of The Skies? How One Company Could Be About To Change The Aviation Industry Forever

Benzinga

By James Blacker, Benzinga Tesla (NASDAQ: TSLA) is without doubt one of the great success stories of the stock market, having seen its share price soar almost 1500% over the past five years. The company sold some 1.8 million vehicles in 2023, compared to 22,442 vehicles 10 years earlier in 2013. During the same period, its annual revenue grew to over $95 billion. With a market cap of over $800 billion, Tesla is now by far the largest automaker in the U.S. by market cap. By comparison, Toyota (NYSE: TM), the second-largest carmaker, has a market cap of a little over $270 billion. The success of Tesla can be attributed to numerous factors, not least its groundbreaking innovation, market disruption and commitment to sustainability. Just as Tesla has redefined the automotive industry, an emerging player seeks to do the same for the aviation industry. As the world looks to the skies for the next transportation revolution, New Horizon Aircraft (NASDAQ: HOVR) could be set to be a game changer for aviation with its hybrid electric Vertical Take-Off and Landing (eVTOL) aircraft. Tesla's Blueprint For Market Dominance Tesla is best known as a pioneer in the electric car market that continues to innovate with its high-tech EVs and Supercharger network. The company has been a leader in the EV market for years thanks to its focus on cutting-edge tech, including the development of advanced battery systems and autonomous driving capabilities. Thanks in large part to Tesla, the auto sector has undergone a radical change in the last decade. Global EV sales reached 14 million in 2023, rising 35% from the previous year. This figure is more than six times higher than just five years earlier. In 2023 there were around 40 million EVs on the roads, and industry experts expect this number to continue rising – forecasts suggest that the global EV fleet will reach 250 million by 2030 and 525 million by 2035. EVs are set to play an important role in helping governments around the world achieve their net zero emissions targets. As such, Tesla’s success can also be attributed to its commitment to sustainability, which is at the core of its mission. The company says its products are designed to replace the planet’s biggest polluters. Last year, Tesla customers avoided releasing over 20 million metric tons of CO2 into the atmosphere. This focus on sustainability has resonated with consumers and propelled Tesla to become one of the most valuable companies in the world. New Horizon Aircraft: The Tesla Of The Skies? New Horizon Aircraft is positioning itself to emulate Tesla’s success as a company at the forefront of a new era in aviation, dedicated to revolutionizing air travel through innovative and sustainable tech. Founded in 2013 by a father-and-son team with extensive flying experience, Horizon Aircraft’s team of elite aerospace engineers is developing a hybrid eVTOL aircraft called the Cavorite X7. This aircraft uses a patented fan-in-wing design that lets it take off and land vertically like a helicopter but reconfigure en route to fly like a traditional aircraft. Redefining Aviation With Cutting-Edge Technology Much like Tesla, Horizon is continually innovating and developing new technology for its aircraft design. In contrast to many other eVTOL aircraft, the Cavorite X7 uses a hybrid electric main power system, which means it can recharge its battery array mid-flight and post-flight. Horizon says that this hybrid electric system, coupled with its patented fan-in-wing design, allows the Cavorite X7 to go faster and farther and carry more useful load than its competitors. According to the company, the X7 will have a maximum range of 500 miles, a maximum useful load of 1,500lb and a top speed of 250 mph. Horizon is also innovating with advanced autonomy and control systems that aim to make flight operations safer and more efficient. The company’s technical innovations will not only allow precise control during takeoff, landing and flight but also pave the way for a fully autonomous eVTOL in the future, pending regulatory acceptance. In line with its vision, sustainability is a key aspect of Horizon’s design philosophy. The Cavorite X7’s hybrid electric system reduces fuel consumption, meaning it can operate with up to 30% less hydrocarbon emissions than conventional aircraft performing similar operations, according to the company. Furthermore, as battery technology continues to advance, the Cavorite is expected to become fully electric, which will further reduce its environmental impact. Additionally, Horizon says its aircraft could bring costs down some 30% even compared to a helicopter carrying out a similar regional transport mission and at twice the speed. Transforming Urban And Regional Mobility With their small design and ability to take off and land vertically, eVTOL aircraft are ideal for transporting people and goods within urban areas. They are therefore seen as a solution to the global problem of traffic congestion, which leads to lost time, increased fuel consumption and high emissions. A recent study found that road congestion results in up to $200 billion in lost productivity annually. With the growing need for efficient and sustainable mobility solutions, eVTOL aircraft have the potential to transform urban mobility. With a wing design that allows it to fly farther, Horizon’s Cavorite X7 sets itself apart from other eVTOL aircraft as it is also ideal for regional air mobility (RAM) – short-haul travel connecting regions that are underserved by traditional airline routes. This capability means Horizon could be poised to capitalize on a global RAM market that is expected to grow to $115 billion by 2035. In addition to passenger travel for the RAM market, Horizon expects the X7’s uses to range from medical evacuation to natural disaster response, emergency surveillance and search and rescue. Navigating Challenges As with any disruptive technology, some challenges will need to be overcome before it becomes fully accessible to the wider public. Firstly, regulatory bodies, such as the Federal Aviation Administration (FAA), need to adapt to the rapid advancement of eVTOL technology – new products will require rigorous testing and certification processes before they can be approved. Regulators must also consider factors such as developing rules for safe flight in urban areas and air traffic control. The final hurdle to overcome for the eVTOL industry will be gaining market acceptance. It will be important to educate the public and stakeholders about the safety and benefits of this new technology in order to build trust. Adoption could come sooner than you think, however, with the FAA saying last year that it expects the first eVTOL to begin commercial operations around late 2024 or early 2025. A Vision For Tomorrow’s Skies The potential for a transformative shift in the aviation industry is immense. Just as Tesla reshaped the automotive landscape, Horizon Aircraft has the opportunity to do the same for aviation. The company envisions a future where air travel is more efficient, accessible, sustainable and integrated into our daily lives. Through continuous innovation, New Horizon Aircraft aims to make this vision a reality. Featured photo by Lars Nissen from Pixabay. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

July 11, 2024 08:35 AM Eastern Daylight Time

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Sono Group: Driving the Future with Solar-Powered Commercial Vehicles

Sono Group N.V.

Sono Group Managing Director George O’Leary joined Steve Darling from Proactive to discuss the company's strategic focus on integrating solar technology into commercial vehicles, particularly their flagship product, the Solar Bus Kit. This innovative product underscores the company's commitment to the concept of "solar essence," utilizing efficient, scalable, and low-cost solar photovoltaic (PV) panels. Sono Group's business model is primarily B2B, targeting original equipment manufacturers (OEMs), bus manufacturers, and bus suppliers. Recent funding will sustain the company through June 2025, enabling them to concentrate on enhancing personnel, product development, and maintaining transparency. O'Leary highlighted the company's ambitious vision for the next three to five years, which aims to create a world free from fossil fuels by installing solar technology on all commercial vehicles globally. Sono Group plans to expand its solar solutions across various types of buses, whether diesel or electric. Furthermore, the company intends to move to a major stock exchange to enhance shareholder value, following their recent listing on the OTCQB market. This forward-thinking approach not only aligns with global sustainability goals but also positions Sono Group at the forefront of the solar technology integration in the commercial vehicle sector, driving innovation and fostering a greener future. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com

July 10, 2024 11:55 AM Eastern Daylight Time

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Ryvid offers Power Controller Upgrade to boost performance of its Anthem and Outset Electric Motorcycles

Ryvid, Inc

Ryvid – the California-based Electric Motorcycle manufacturer – is offering customers the opportunity to transform their riding experience by ordering the Power Controller Upgrade by Accelerated Systems Inc for their Anthem or Outset Electric Motorcycles. New customers are able to configure their order for a new Ryvid Anthem or Outset to have the ASI Controller fitted at Ryvid’s Californian assembly facility. Alternatively, existing owners are able to install the ASI Controller to their Anthem as a DIY project or by requesting a visit from a Ryvid technician. Testing by Ryvid engineers found that the ASI Controller provided faster acceleration thanks to a significant increase in power and torque delivery. Peak torque at the wheel using the stock 4.7:1 final drive saw output rise from 250 ft-lb for the stock controller to 334 ft-lb using the Power Controller Upgrade by ASI. Similarly, peak horsepower jumped from 20hp to 27hp. And the best part: no negative effect to the battery range. In fact, the Power Controller Upgrade by ASI not only makes the Ryvid Anthem and Outset models more entertaining to ride, but also more highway capable thanks to the improved acceleration and torque. It's worth noting that, given the performance increase, the Power Controller Upgrade by ASI is recommended for experienced riders. However, both the Ryvid Anthem and Outset models retain their selectable riding modes, allowing riders to choose either Sport or Eco modes. When set to Eco, the power delivery is softened somewhat and regenerative braking is provided. In Sport mode, the rider can experience the full performance of the 72V air-cooled, brushless DC motor and removable 4.3kWh battery with integrated charger. In Sport mode, regenerative braking is stronger and can be further increased by a rider selected trigger. To create the “ultimate urban slayer,” the Power Controller Upgrade by ASI can be fitted to any new Ryvid Anthem or Outset ordered directly from the company website. As a limited time promotional offer, Outset orders placed before July 31, 2024 will receive the ASI Controller for free. New or current owners of the Ryvid Anthem can order the $800 controller via the website’s Shop tab at ryvid.com/collections/bike-accessories. For full disclosure: DIY installation is not for beginners. Owners will need to install the supplied secondary wiring harness to power the Power Controller Upgrade by ASI. It isn’t a simple plug 'n play installation but there is a video to guide owners at ryvid.com. Installation is estimated at approximately three hours. Alternatively, contact the Ryvid support team to request installation by a Ryvid technician for a service fee. Riders and media who have been able to experience and review the Ryvid Anthem with ASI Controller have all reported very positively on the available performance, elevating their positive impressions of the highly affordable electric motorcycle, which is available at $6,495 for the Anthem or $5,995 for the new Outset. AMERICAN BUILT The Ryvid Anthem Electric and Ryvid Outset Electric are available to order now from ryvid.com. The $6,495 Anthem is available for immediate delivery in a choice of five colors, while deliveries of the $5,995 Outset will begin in the Summer. It can be specified in either Sector Red or Vapor Grey. Please note, riders must have a motorcycle license to ride the Anthem or Outset. The Anthem and Outset share a rigid steel backbone frame, instrument display, removable 4.3kWh battery with integrated charger, 72V air-cooled, brushless DC motor, controller, and sealed belt drive. Both machines are capable of 75mph+ top speed and will provide up to 75 miles range*. The battery can be charged quickly from both 110V and 220V power supplies. Outset has an 33” seat height but its compliant suspension and narrow cushion mean it will comfortably accommodate a range of riders. The Anthem seat is adjustable from 31-34” to accommodate an even wider range of riders. Weighing just 313 and 315 lb, respectively, the Anthem and Outset share featherweight architecture and a low center of gravity. With the major components positioned at axle level, both bikes exhibit extraordinary handling characteristics, making them extremely easy to change direction at high speed or maneuver at low speed. Another benefit of electric power is the Ryvid Reverse Drive. At the push of a button when stopped, the rider is able to move the motorcycle backwards at walking speed to extricate it from perhaps a tight parking position or awkward slope. *Quoted range was established using the recognized Urban Dynamometer Driving Schedule. Battery range may vary and can depend on conditions such as rider weight, cargo weight, speed, temperature, wind, tire pressure, terrain, incline, etc. ABOUT RYVID Ryvid is a cutting-edge manufacturing corporation in the high-growth field of Electric Light Vehicles. Founded by enthusiasts, engineered by innovators, and designed by aerospace industry gearheads, the Ryvid mission is to create more sustainable and enjoyable personal mobility. The company name was derived by merging Rhythm and Avid; elements of motion and emotion that define the experience of using our products. Ryvid produces revolutionary, lightweight, affordable electric motorcycles with a significantly lower carbon footprint than its competitors. With the same innovation applied to all models, Ryvid is poised to revolutionize urban commuting. Ryvid products are designed and assembled in California. For further information, please visit ryvid.com The Ryvid Anthem is available for delivery now at $6,495. The new Ryvid Outset is available at $5,995, with deliveries beginning Summer 2024. Contact Details Greg Emmerson greg@theidagency.com Company Website https://ryvid.com/

July 09, 2024 06:05 AM Pacific Daylight Time

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NAFA to Host Fleet Policy Workshop Focused on Comprehensive Fundamentals and Best Practices in Fleet Management

NAFA Fleet Management Association

In the evolving landscape of fleet management, effective and well-structured policies are critical to ensuring compliance, efficiency and overall success. To address these needs, NAFA Fleet Management Association (NAFA), the vehicle fleet industry’s largest membership association, announces the development of a Fleet Policy Workshop event for fleet professionals from October 7-9, 2024, in Indianapolis, IN. This interactive workshop is designed to empower fleet professionals with the knowledge and tools to develop, implement and manage comprehensive fleet policies effectively. “Well-crafted fleet policies are the backbone of successful fleet operations. This workshop is tailored to provide fleet managers with a detailed understanding of policy creation and application, ensuring they are equipped to handle the complexities of modern fleet management,” said Bill Schankel, CAE, CEO of NAFA. “We are thrilled to bring this dynamic program to Indianapolis, providing a platform for learning, collaboration and practical skill development.” The Fleet Policy Workshop will offer a deep dive into the full cycle of policy strategy, development, implementation and assessment. Participants will gain valuable insights from industry experts and engage in hands-on activities designed to provide practical experience and immediate takeaways. Sessions at the workshop will cover a range of critical topics, including: Fundamentals and Strategies of Policy Writing Policy Needs Assessment and Implementation Customizing Fleet Policies Conducting Policy Audits and Assessments Registration for the Fleet Policy Workshop is currently open, with early bird pricing available through August 9, 2024. To learn more about the workshop and register, please visit https://www.nafa.org/events/fleet-policy-workshop/. NAFA Fleet Management Association is the membership organization for professionals who manage the mobility requirements of vehicle fleets that include commercial, public safety, trucks, and buses of all types and sizes, and a wide range of military and off-road equipment for corporations, governments, universities, utility fleets, and law enforcement in North America and across the globe. NAFA’s members are responsible for the specification, acquisition, maintenance, repair, fueling, risk management, and remarketing of more than 4.8 million vehicles that drive an estimated 84 billion miles each year. NAFA’s members control assets and services well above $122 billion each year. For more information, please visit www.nafa.org, and communicate with NAFA on LinkedIn, Facebook, and X. Contact Details Keaveny Hewitt +1 919-622-5276 khewitt@onwrdupwrd.com Company Website https://www.nafa.org/

July 08, 2024 02:00 PM Eastern Daylight Time

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Benchmark International Successfully Facilitated the Transaction Between MTS Transportation, Inc. and High Desert Management Group, LLC

Benchmark International

Benchmark International is pleased to announce the transaction between MTS Transportation, Inc. and High Desert Management Group, LLC. The transaction represents a strategic expansion for High Desert Management Group, LLC, as it works to achieve scale through acquisitions and service diversification. MTS Transportation, a company with a rich history, was established in Amarillo, Texas, in 1982 and incorporated in 1990. It all began with a single tractor and refrigerated trailer to take on servicing the 3PL needs of the Texas Panhandle market. For over four decades, the company has continued to provide 3 PL services, full truck load transportation of refrigerated products, dry freight, flat bed, bulk carbon black, and bulk milk transportation on long or short hauls nationwide. “Thank you for everything you have contributed to, the timely and knowledgeable direction and for always having the time to help where and when needed. It was so appreciated.” – Tim Merrill, CEO of MTS Transportation. High Desert Management Group, LLC, a newly formed holding company in Texas, is looking to continue expanding its footprint in the Texas market with its experience in the trucking industry. High Desert Management Group, LLC intends to continue working to streamline its service operations related to dry freight products and refrigerated products in the Texas market. “It was exciting to get to the finish line with our client and even more exciting to help our client continue onto their next chapter in life, which we hope is filled with even more quality time with their friends and family. The Benchmark team has enjoyed working with MTS Transportation and High Desert Management Group, LLC through this process, and we wish both parties the best of luck in their future endeavors.” – Jeffrey Garza, Deal Associate, Benchmark International. Americas: Sam Smoot at +1 (813) 898 2350/ Smoot@BenchmarkIntl.com Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com ABOUT BENCHMARK INTERNATIONAL: Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $11 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive Privately-held M&A Advisor in the World by Pitchbook and Refinitiv's Global League Tables. Contact Details Brittney Zoeller +1 813-898-2350 zoeller@benchmarkintl.com Company Website https://www.benchmarkintl.com/

July 08, 2024 10:25 AM Eastern Daylight Time

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Spring Bird Celebrates Significant Growth and Expands Reach Across the U.S.

Spring Bird

Spring Bird, a leading provider of heavy-duty transit solutions, is proud to announce its remarkable growth and expansion over the past six months. As a company deeply rooted in the Carson family's longstanding legacy in the transit industry, Spring Bird continues to set new standards in quality, customer satisfaction, and innovation. In the last six months, Spring Bird has successfully delivered transit buses for sale or lease to various key locations, including Texas, Chicago, New York, Idaho, Northern California, and an airport in Southern California. This expansion demonstrates our commitment to meeting the diverse needs of transit operators nationwide and highlights the trust and confidence our clients place in our products and services. "Our available fleet has seen significant growth, now boasting over 100 heavy-duty transit buses with fleet likeness. This uniformity not only provides a cohesive appearance for transit systems but also enhances maintenance efficiency, allowing for smoother operations and reduced downtime. Our dedication to quality and reliability ensures that each vehicle in our fleet meets the highest standards of safety and performance," said Elliott Carson, CEO of Spring Bird. This growth has propelled Spring Bird to become the second-largest supplier of certified pre-owned heavy-duty transit vehicles in North America. Our extensive inventory and comprehensive rehabilitation services, including minor repairs, major overhauls, and retrofitting with advanced technology such as low-emission engines and GPS systems, make us the preferred choice for transit operators seeking dependable and cost-effective solutions. "Our recent achievements are a testament to the hard work and dedication of our team and the trust of our clients," Carson added. "We are committed to continuing our legacy of excellence and innovation, providing top-quality transit solutions that meet the evolving needs of our customers." Spring Bird's success is built on a rich history of the Carson family's contributions to the transit industry, dating back to 1943. From the founding of Cross Town Lines to the establishment of Spring Bird by Elliott Carson, the company's journey reflects a deep-seated commitment to quality, customer satisfaction, and industry leadership. As we look to the future, Spring Bird remains focused on expanding our reach, enhancing our services, and delivering exceptional value to our customers. We are excited about the opportunities ahead and look forward to continuing our tradition of excellence in the transit industry. About Spring BirdSpring Bird is a premier provider of transportation solutions specializing in the sale, leasing, and service of heavy-duty transit buses and motor coaches. Drawing from the rich Carson family legacy in the transportation industry, Spring Bird offers an inventory of high-quality buses from leading manufacturers and provides customized rehabilitation services, including minor repairs, major overhauls, and technological retrofitting. Dedicated to safety, innovation, and customer satisfaction, Spring Bird addresses the unique needs of cities, transit agencies, and private operators, ensuring reliable and efficient transportation solutions. Contact Details Media Contact press@springbirdbus.com Company Website https://springbirdbus.com

July 02, 2024 11:17 AM Central Daylight Time

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The Future Of Air Mobility: Horizon Aircraft's Cavorite X7 Leading The Charge In eVTOL Innovation

Benzinga

By James Blacker, Benzinga Imagine being able to order a flying taxi at the touch of a button, then to be whisked over the traffic and across the city in minutes, navigating above skyscrapers to an awaiting vertiport. Imagine a loved one being airlifted to the hospital in half of the time of a traditional helicopter. While this futuristic vision was once confined to the realm of science fiction, excitement for a new form of air travel is growing as advances in technology could bring them to our skies sooner than many think. Global investors expect to see the first commercial flights using electrical vertical take-off and landing (eVTOL) aircraft by 2026. The United States Federal Aviation Administration said last year that it expects the first eVTOL to begin commercial operations around late 2024 or early 2025. The United Kingdom, meanwhile, recently outlined a roadmap for eVTOL aircraft use, which it sees launching in the country by 2026, with fully autonomous versions in the skies by 2030. According to Spherical Insights, the Advanced Mobility Market (AMM) was worth $9.3 billion in 2023 and is expected to grow at a compound annual growth rate of 18.69% from 2023 to 2033, reaching $51 billion. Morgan Stanley has an even more bullish outlook, predicting that AMM will encompass a total addressable market of $1.5 trillion by 2040, citing the convergence of technologies such as batteries, autonomous systems and advanced manufacturing as reasons for this explosive growth. Who Needs A Pilot, Anyway? Several key players are making headlines in the eVTOL market, including New Horizon Aircraft (NYSE: HOVR), Joby Aviation and Lilium. While most companies are taking a traditional piloted approach with their eVTOLs, others, such as Archer Aviation (NYSE: ACHR), EHang and Boeing (NYSE: BA) subsidiary Wisk Aero are developing fully autonomous versions. As the technology develops and governments begin to adopt regulations to allow unpiloted eVTOLs, we can expect to see other players, such as Horizon Aircraft, following suit with autonomous vehicles of their own. Horizon Aircraft: Bucking The Trend While many competitors in the space are developing fully electric eVTOL aircraft, Horizon’s Cavorite X7 uses a hybrid electric propulsion system, allowing it to travel faster, go further and carry more useful cargo. According to the company, the X7 will have a maximum range of 500 miles, a maximum useful load of 1,500lb and a top speed of 250 mph – outperforming its all-electric competitors in every metric. The seven-seat Cavorite X7 uses a patented fan-in-wing design, with 14 electric ducted fans installed. After a vertical takeoff, the wings reconfigure, allowing it to fly like a normal aircraft during en-route flight. It can also take off and land from a traditional airport like a normal aircraft. The Canadian firm currently has a 50%-scale prototype that has successfully demonstrated hover flight and hopes to complete a successful transition flight soon. The company recently announced a number of promising technical updates. Horizon’s innovative approach appears to be working – earlier this year, Indian air operator JetSetGo signed a letter of intent with the company to purchase 50 Cavorite X7 for $5 million each, with an option to purchase an additional 50, at a total cost of $500 million. With its innovative approach to eVTOL design, and with a government that has shown robust support for the development of sustainable aviation, New Horizon Aircraft seems to be in a good position to take advantage of a potential boom in this new and disruptive form of air travel. Featured photo by Patrick Tomasso on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

July 01, 2024 08:30 AM Eastern Daylight Time

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Flash Appoints Chris Donus as President

Flash Parking

Flash, the leading end-to-end parking technology platform, today announced that Chris Donus, the current CFO, has been appointed president of the organization. In the newly established role, Donus will expand his focus on day-to-day operations, working closely with the leadership team to execute transformative strategies that include the expansion of Flash’s burgeoning digital demand network, EV charging and parking platform scale, and driving the company’s regionalized branch organization to deliver unmatched partner experiences. Dan Sharplin will continue in his role as Chairman and CEO, focusing on international growth, strategic transactions, and ecosystem partnerships. “This promotion reflects Chris’s exceptional leadership and expertise at this time of tremendous momentum for Flash as we rapidly scale our industry-leading parking and EV charging digital ecosystem," said Flash CEO Dan Sharplin. “In the next 24 months, we anticipate more transformation in the parking industry than we’ve seen in several decades prior. Chris has the relevant experience to ensure we execute on our priorities that allow us to drive this industry transformation.” “We are building a parking and EV charging ecosystem where a seamless driver experience benefits everyone,” said Donus. “There is an incredible amount of innovation and hard work being done across Flash to build the platform and partnerships that further our position as the leader in parking and EV Charging technology. I look forward to ensuring the value we create is incomparable in my role as President of Flash.” Before Flash, Donus served as COO and CFO at Wheel Health, a venture-backed telehealth platform developer designed to connect companies and clinicians to deliver virtual care. He also served in senior leadership roles at Lyft as VP and Business Unit leader of Express Drive, the customer-facing fleet line of business, generating over $400 million in rental revenue and over $2 billion in Lyft rides. Prior to that, he was president of Silvercar from 2015 to 2018 alongside roles as COO, from 2017 to 2018, and CFO from 2012 to 2015. He has also served in leadership roles at Freescale Semiconductor, Hertz Global Holding, and Lucent Technologies. About Flash Flash is a pioneering technology company bringing seamless parking and EV charging experiences to drivers through a first-of-its-kind digital ecosystem. Flash’s platform connects reservable parking and charging in the apps drivers use every day with garage, surface lot, event, and valet parking locations—connected and controlled via a cloud-based operating system with unrivaled intelligence. Customer-obsessed brands partner with Flash to deliver digital, easy-to-use, reliable, and increasingly frictionless experiences to drivers eager to pay for a solution that eliminates wasted time, excess emissions, and stress. The solution has arrived. Contact Details Razor Sharp PR Ray Young +1 512-694-6097 ray@razorsharppr.com Company Website https://www.flashparking.com/

June 27, 2024 10:00 AM Central Daylight Time

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LOBO Technologies Wants To Have It All With Line Of Electric Mobility Products, And Investors Seem To Be Taking Notice Of Its Expansion Plans

Benzinga

By Meg Flippin, Benzinga From bikes to scooters, the electric vehicle market is taking off, driven by greater awareness around the benefits of EVs, demand for better mobility solutions in dense urban settings and supportive government policies. As a result, the global e-bike, e-trike and e-scooter industry is forecast to reach $77.6 billion by the end of 2028, growing at a CAGR of 11.6%. LOBO Has It All For players in this market, going after just one area of the EV industry can be a big opportunity, but operating in it all including e-bicycles, e-mopeds, e-tricycles and electric off-highway four-wheeled shuttles, plus offering automobile information and entertainment software on top of that, can be game-changing. That is exactly what LOBO Technologies Ltd. (NASDAQ: LOBO) is doing. The Chinese EV manufacturer has a multi-pronged approach to dominate the market with its wide range of electric mobility vehicles. LOBO, which already has an established track record, is aiming to be an OEM and ODM leader in the intelligent urban e-bike, e-trike and off-highway four-wheeled electric vehicles (EVs) market over the next decade by making EVs tailored for various demographics, including mobility solutions for the elderly and disabled. The company follows an asset-light business model through which it leverages its just-in-time production model to align supply and demand trends and minimize excess inventory. To keep margins high, the company outsources the production of some models that are more costly to make in-house. Innovating In The Marketplace LOBO is an innovator in the industry, leveraging advanced technologies in connectivity, multimedia, interactive systems and artificial intelligence to enhance users’ experiences and stand out from its rivals. Take its recently launched solar-powered electric tricycle for one example. It is equipped with high-quality solar panels designed to capture and convert the sun's energy, providing continuous power to the tricycle's electric motor. This environmentally friendly tricycle helps reduce carbon emissions, is cost-effective and is easy to maintain, reports LOBO. Then there is its “King of the Load” e-trike, which is a special-purpose vehicle designed for commuters and delivery services. These e-trikes are not just vehicles but also powerful tools that empower users by providing a means of livelihood, which LOBO says is especially critical in developing countries for increasing income and improving quality of life. Overseas Expansion LOBO is also focusing on growing its footprint, going after emerging markets seeing increased interest in EVs. That includes ASEAN countries, Eastern Europe – including Serbia, Bulgaria and Ukraine – and Latin America. That cushions the blow from any slowdown in China. All of those markets are growing for LOBO, particularly in Latin America. Earlier this month, LOBO announced it received its largest single order for e-bikes this year, including electric tricycles, electric bicycles and its newly introduced solar-powered electric tricycles, from Ecuadorian resellers. “Latin America is one of several global markets we’ve targeted for rapid expansion, and this latest order from Ecuador is a testament to our growing footprint and the strong demand for our products in this region,” said CEO Huajian Xu. So far in 2024, LOBO says it has consistently received orders for e-bikes and e-trikes from Latin American dealers in Brazil, Chile, Suriname and other countries. This week LOBO hosted one of Brazil’s top ten electric mobility dealers, which it had been doing business with for about a year. Following the visit, which included a site inspection, the dealer, which generates more than $8 million a year in sales of short-distance electric vehicles, has determined it will consolidate its production and procurement with LOBO. Up until now, it had used several Chinese manufactures. “The Brazilian team was particularly impressed with our new model electric tricycles and small four-wheeled elderly mobility vehicle samples. They closely examined the detailed design and craftsmanship, praising our R&D and manufacturing capabilities. The on-the-spot discussions about specific vehicle orders indicate their strong intent to form a close cooperative partnership,” said Xu. LOBO has been steadily gaining share over the past few years in Latin America and elsewhere, which it credits to its ongoing investment in R&D. That enables LOBO to develop products that resonate with the masses and provide a greener alternative. That is particularly important in the new markets LOBO is going after. Not only are its EVs cheaper than gas-powered vehicles, they can have a huge positive impact on global warming. They don’t add to emissions and can replace cars in many instances. In the U.S., three-fourths of all trips are ten miles or less, highlighting the utility of EVs. Manufacturing Might Beyond expanding its footprint, LOBO is beefing up its manufacturing so that it can quickly and affordably churn out innovative e-bikes, e-scooters and other green mobility vehicles. Case in point: proceeds from its $5.5 million IPO in March went to expand capacity in a new factory in Wuxi by 20%. That is the equivalent of $27 million in product, LOBO reports. Investors seem to have been taking notice of all these positive developments, with shares of LOBO recently jumping 16.4% over its order from Ecuador and overall growth. At last check, LOBO has 150 distributors in China and 60 spread out around the result of the world. LOBO plans to expand into two to five more countries this year and strike more partnerships. Given its expansion plans, LOBO’s recent run may not be over yet. Featured photo by Maixent Viau on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

June 26, 2024 08:35 AM Eastern Daylight Time

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