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Saturday, February 05, 2022 2:39:27 PM
BYOC has invested $250k into CityFreighter and initial $50k into Elettricars as minority stakeholders in both companies.
CityFreighter, is a California based company that will provide electric box vans for deliveries. Byoc already has a working relationship with this company through S800 that provides them with customer service and data collection, and will "help them with their data capture and telematics in the future."
As for Elettricars, it's an Italian base company, which BYOC has a BINDING LOI with and exclusive U.S rights to sell its car in. They will provide a more practical means of transportation with a smart car concept but being only all electric.
I suspect this is why BYOC management headed to California recently to find a facility (more dilution money) to house these Electtricars for U.S. distribution. With CityFreighter already being in that state this would make the most sense.
For those that don't know, California is passing strick laws and going all green, and you won't be able to use a gas powered anything soon. So if you're a up and coming EV company it doesn't sound like a bad place to set up shop.
BYOC!!
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