AUTOMOBILITY TO JOIN ADVISORY BOARD OF E2 MOBILITY

CHARLOTTESVILLE, Va. and SHANGHAI, May 31, 2022 /PRNewswire/ -- E2 Mobility, Inc. ("E2"), developer of a next generation smart mobility fleet, announced that Bill Russo, Founder & CEO of Automobility Limited, has joined its Advisory Board. Mr. Russo will provide guidance to the US-based startup to assist with the business development and commercialization of their all-electric and purpose-built Mobility-as-a-Service (MaaS) platform.

E2 aims to dramatically improve the economics of mobility services by lowering vehicle costs-per-mile for operators, while simultaneously increasing revenue potential by providing access to a digital platform connected to the smart mobility ecosystem. E2 Mobility's journey started more than a decade ago with the innovations of Edison2, which developed an ultra-efficient vehicle design, patented an in-wheel suspension system, and won the mainstream competition of the 2010 Progressive Insurance Automotive X Prize.

In order to solve the problem of economic sustainability for shared mobility, the team set out to design a vehicle with at least a 50% reduction in energy needs, and to create a smart mobility platform with integrated technology to optimize the operators' access to revenue-generating opportunities. The result is the first Smart Mobility Vehicle (SMV), the E2 Flex. Other transformative design features, such as business class experience, safe and secure modular driver and passenger compartments, on demand decontamination, and preventive and proactive maintenance ensure that the E2 fleet will deliver value throughout the lifecycle of its vehicles.

E2 will build its SMV with globally renowned partners, including partnerships for platform licensing, prototype development, and application design. E2 plans to start production in 2024, with projections to deploy a fleet of ~1 million SMVs in the United States by 2030.

"Ride-hailing and smart mobility are still evolving very rapidly in the current economy," said Theodoros Papaspyridis, Founder and CEO of E2 Mobility, "and we are choosing our moment with a go-to-market strategy that will seriously capitalize on the personal transportation revolution coming over the horizon."

"In our vision of the future of mobility, the automotive industry builds mobility devices with embedded software that can be a gateway for a range of services," said Bill Russo. "E2 Mobility's purpose-built vehicle is a strategic asset designed to intermediate between the user and the digital ecosystem of services, including monetization through revenue sharing with data services, machine-to-machine transactions, pay-per-use, and subscription-based mobility services," said Mr. Russo.

About E2 Mobility

E2 Mobility, Inc., was founded by Theodoros Papaspyridis to provide a solution for the new era of smart mobility, leveraging his decades of experience in the international automotive industry to deliver the innovations made possible by the ultra-efficient design of the X Prize-winning Edison2 Very Light Car. Its purpose-built smart mobility vehicle for the movement of passengers and cargo helps operators to increase profits. The integrated software platform with its mobile app connects MaaS operators to diverse revenue opportunities. E2 aims to be an all-inclusive smart mobility solutions company by providing an E2 ecosystem and selling mobility by the mile.

For more information, visit www.e2mobility.us

About Automobility

Automobility Limited is a global strategy consulting and investment advisory firm that helps its clients create and profit from new mobility business models. The firm was co-founded in 2017 by Bill Russo, a globally renowned automotive and mobility expert, and Bevin Jacob, a leading technology expert in the field of intelligent transportation. The firm is deeply rooted in China with a global vision, capabilities, and a broad resource network. The firm is led by industry veterans who commit to help their clients throughout the implementation process.

For more information, visit www.automobility.io

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SOURCE E2 Mobility, Inc.