DropCar and STEER Tech Launch Autonomous Vehicle Partnership at CES
January 07 2019 - 6:00AM
Business Wire
Relationship aims to give fleet owners,
dealers, OEMs, retailers, and shared mobility companies a fast
track to the autonomous future
DropCar, Inc. (Nasdaq:DCAR), a leading provider of last mile
logistics technology, mobility services and cloud based software
for both the automotive industry and consumers, today announced
that it is has entered into a partnership through a Memorandum of
Understanding with autonomous vehicle and parking technology
provider STEER Tech to integrate autonomous vehicle technology into
DropCar’s Mobility Cloud platform.
DropCar CEO Spencer Richardson stated, “We are thrilled to
partner with STEER. Together our goal is to provide fleet owners,
dealers, car sharing solutions, OEMs, and retailers with a single
destination to manage their current mobility programs using
DropCar’s last mile logistics platform and safety drivers, while
simultaneously leveraging autonomous capability to optimize their
operations. It is a great stepping stone to a wider array of
autonomous applications as they become mainstream. STEER brings
that capability to activate and add an autonomous layer to our
service.”
STEER Tech has created the first fully-autonomous parking
technology to transform everyday cars into driverless vehicles that
can valet themselves and self-park in designated lots. The
technology provides level 4 automation for a range of other last
mile functionalities that may add further excitement to the
partnership.
“With STEER’s fully automated parking technology, DropCar is
able to provide next level luxury to their consumers, lower parking
accidents and scale a larger fleet owing to the added driverless
capability. DropCar’s trusted logistics platform for tier-one
mobility programs and large group of consumers that subscribe
directly to their mobile app for parking & personal chauffeur
services will all benefit from the STEER - DropCar partnership. Our
technology can be a critical part of extending the value of these
programs to include the benefits of fully autonomous vehicles in a
stepwise manner,” noted STEER CEO Anuja Sonalker.
About DropCar
DropCar’s mission is to power the next generation of mobility by
bringing automotive based products and services to everyone’s front
door. DropCar’s core Mobility Cloud platform and driver network
helps fleet owners, dealers, OEMs, retailers, and shared mobility
companies manage their last mile logistics and launch new consumer
services. DropCar’s consumer mobile app (on IOS & Android)
helps busy urbanites reduce the overhead of owning a car in the
city while unlocking its full potential, at the tap of a
button.
Learn more at https://drop.car/.
About STEER Tech
STEER builds products that will massively enable autonomous
features in mainstream vehicles, galvanize smart transportation and
stop automotive cyber threats now and in the future. The first
application from STEER is a fully automated driverless parking
technology for cars that allows users to enjoy their experiences
without having to worry about parking their cars. Combined with a
growing network of service points, the technology activates an
ecosystem of users and infrastructures that benefit from space and
time efficiency, reduced costs, enhanced experiences and even new
revenue.. The network ecosystem also offers deep insights and
analytics that can further refine consumer experience. STEER is
headquartered in Columbia, Maryland.
Learn more and see the technology in action at
www.STEER-Tech.com.
Forward-Looking Statements
This press release contains “forward-looking statements” that
involve substantial risks and uncertainties for purposes of the
safe harbor provided by the Private Securities Litigation Reform
Act of 1995. All statements, other than statements of historical
facts, included in this press release regarding strategy, future
operations, future financial position, future revenue, projected
expenses, prospects, plans and objectives of management are
forward-looking statements. Such statements are based on
management’s current expectations and involve risks and
uncertainties. Actual results and performance could differ
materially from those projected in the forward-looking statements
as a result of many factors, including, without limitation, the
ability to project future cash utilization and reserves needed for
contingent future liabilities and business operations, the
availability of sufficient resources of the company to meet its
business objectives and operational requirements and the impact of
competitive products and services and technological changes. The
foregoing review of important factors that could cause actual
events to differ from expectations should not be construed as
exhaustive and should be read in conjunction with statements that
are included herein and elsewhere, including the risk factors under
the heading “Risk Factors” in DropCar’s filings with the Securities
and Exchange Commission. Except as required by applicable law,
DropCar undertakes no obligation to revise or update any
forward-looking statement, or to make any other forward-looking
statements, whether as a result of new information, future events
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190107005320/en/
DropCar Business Development InquiriesDavid
Newmancontact@DropCar.com(646) 342-1595
DropCar Media & Investor RelationsSpencer
Richardsonir@DropCar.com(646) 916-4595
STEER Business Development InquiriesChristina
Roderickpartner@steer-tech.com(240) 844-3577
STEER Media & Investor RelationsAnuja
Sonalkermedia@steer-tech.com(240) 844-3578
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