Highlights:
- Entire OjO rideshare fleet replaced with new highly equipped,
custom designed OjO V2
- Currently 1,250 scooters deployed across Austin, Dallas and Memphis, with planned increase to 2,500
deployed by the end of January
2020
- Deployment of OjO scooters for drivers of on-demand delivery
services, including food delivery apps, a key strategic focus,
alongside planned rideshare ramp-up
OXNARD, CA and VANCOUVER, Oct. 31,
2019 /CNW/ - OjO Electric Corp. (the "Company"
or "OjO") (TSXV: OJO), a Light Electric Vehicle (LEV)
mobility solutions company, is pleased to announce OjO V2, the
Company's newest, most highly equipped scooter, which was
purpose-built for both rideshare deployment and for use by drivers
of on-demand delivery service companies. On-demand delivery is a
key strategic focus for the Company given the unique form-factor of
the OjO scooter, and its potential to displace the CO2-emitting
vehicles predominantly used by these services today.
OjO V2, with its dual 48V lithium-ion battery packs, has a range
of up to 50 miles and is capable of a maximum speed of 20 mph with
a maximum load of 300 lbs. These attributes, together with the
OjO's comfortable, adjustable cushioned seat and rear storage
basket, make it an ideal replacement for the CO2-emitting vehicles
used in on-demand delivery services ranging from food delivery apps
to package delivery.
"We believe that OjO has the potential to make a positive, green
impact in today's '1-click' world by displacing a large chunk of
the cargo vans, cars, and trucks used in on-demand deliveries with
an all-electric fleet of our uniquely designed seated scooters,"
said Max Smith, CEO of the
Company.
V2 Features
Now available for use in rideshare in Memphis, Dallas and Austin, the OjO V2 has more than 13 updates,
including improved cushioned seats, integrated GPS technology and
wider handlebars for safe and easy navigation.
The zero emission, fully-electric OjO V2 scooters are built with
heavy-gauge aluminum made for optimal strength to withstand the
demands of high rideshare and on-demand delivery usage for optimal
strength, stability and safety. OjO V2 is a sit-down scooter built
for bike lanes and streets and has speed control capabilities with
variations of 8/10/12/15/18, and 20mph for no ride and slow ride
zoning.
New OjO V2
"We're thrilled to announce the launch of OjO V2. We want to
continually better our users' experiences by providing our riders
with a safe, environmentally friendly, fun and easy way to
commute," said Mr. Smith.
The new OjO V2 features lock-to technology, two swappable
batteries, front and rear disc brakes, brake lights for visibility,
an LED headlight, motorcycle grade pneumatic tires and a robust
rear Hub Motor capable of climbing 18% grade.
In addition, OjO's geofencing enables variable speed controls
and voice commands to promote safety. "We are continuing to work
with local governments to ensure that OjO users are following the
city's regulations, making OjO a safe solution for riders and
pedestrians," said Mr. Smith. "As a design-first company, OjO
is always working on future generations of our scooters to make the
OjO the best ridesharing experience available."
For more information and to sign up to OjO's mailing list,
please visit www.ojoelectric.com. Follow @OjOElectric on Twitter,
Instagram and Facebook, and download the OjO mobile app on iOS or
Android.
On behalf of OjO Electric Corp.
"Max Smith"
CEO and Director
About OjO Electric Corp.
OjO Electric Corp.
(TSXV: OJO) is dedicated to providing safe, sustainable Light
Electric Vehicle (LEV) mobility solutions in collaboration with
municipal governments to reduce traffic congestion and carbon
emissions. OjO's vision is to change rideshare for good by creating
a sustainable mobility eco-system that connects people, cities and
businesses. OjO's platform is built with open API's to allow for
integration with partners and multi-modal transportation solutions.
To find out more, please download the OjO mobile app or visit
www.ojoelectric.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Cautionary Statement Regarding Forward-Looking
Information
This news release may contain forward-looking information or
statements pertaining to the Company's objectives, goals or future
plans and the business and operations of the Company. Often, but
not always, forward-looking information can be identified by the
use of words such as "plans", "expects", "does not expect",
"estimates", "intends", "anticipates", "does not anticipate", or
"believes", or variations of such words and phrases or states that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken to occur or be achieved. Forward-looking
information or statements are necessarily based on a number of
estimates and assumptions that, while considered reasonable, are
subject to known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information. Such factors include, but are not
limited to: general business, economic and social uncertainties;
litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments; those
additional risks set out in the Company's Filing Statement and
other public documents filed on SEDAR at www.sedar.com; and other
matters discussed in this news release. The foregoing list of risks
and uncertainties is not exhaustive. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Should one or more of these risks
or uncertainties materialize, or should assumptions underlying the
forward-looking information prove incorrect, actual results,
performance or achievement may vary materially from those expressed
or implied by the forward-looking information contained in this
news release. These factors should be carefully considered and
readers are cautioned not to place undue reliance on
forward-looking information, which speaks only as of the date of
this news release. All subsequent forward-looking information
attributable to the Company herein is expressly qualified in its
entirety by the cautionary statements contained in or referred to
herein. The Company does not undertake any obligation to release
publicly any revisions to this forward-looking information to
reflect events or circumstances that occur after the date of this
news release or to reflect the occurrence of unanticipated events,
except as may be required under applicable securities laws.
SOURCE OjO Electric Corp.
