Beyond Commerce Acquires Minority Stake in CityFreighter, an Electric Vehicle Last Mile Delivery Company
Beyond Commerce (OTC PINK:BYOC) has acquired a minority stake in CityFreighter, an electric vehicle company focused on last-mile delivery solutions. The Class 3 CF1 Beta BoxVan features innovative technology such as a 150 kW E-Axle and customizable battery configurations. Production is slated for late 2022 to early 2023, aimed at addressing the growing e-commerce demand. CEO Geordan Pursglove notes the strategic partnership will enhance data collection and customer service capabilities. This investment positions Beyond Commerce to benefit from anticipated growth in the electric vehicle sector.
- Acquisition of minority stake in CityFreighter could provide significant upside for shareholders.
- CityFreighter's CF1 BoxVan addresses challenges in last-mile delivery, tapping into the growing e-commerce market.
- Strategic partnership with CityFreighter enhances data capture and telematics capabilities.
- None.
CityFreighter's Class 3 Full-Electric BoxVan to Redefine the Last Mile
LAS VEGAS, NV / ACCESSWIRE / November 30, 2021 / Beyond Commerce, Inc. (OTC PINK:BYOC) (the "Company"), a provider of B2B internet marketing analytics, technologies and services, is pleased to announce
PHASE II CityFreighter CF1 Beta ACT EXPO Long Beach 2021
Functional and drivable, equipped with 150kW 260Nm E-Axle, Steer by Wire Option and 77 kWh NMC Battery, Heat pump based thermo management system.
CityFreighter targets commercial production in late-2022 / early-2023.
CityFreighter Inc. was incorporated in 2018 in Delaware to develop smart and innovative transport solutions, to lower the TCO, and to optimize the operational efficiency for drivers and fleet operators.
CityFreighter recently unveiled the CF1 Beta version, a class 3 full-electric BoxVan, developed for last-mile delivery. The CF1 combines the space advantages of a box truck with the excellent maneuverability of a cargo van and provides best of class payload capacities, further introducing new features in this class like a heat pump based thermal management system and steer by wire capabilities. The CF1 Technology is modular, customizable and lightweight. CityFreighter developed its own skateboard; flexible to implement different wheelbases and optional battery configurations.
The earlier PHASE I CityFreighter was a proof of concept and debuted at ACT EXPO Long Beach 2019 - as functional and drivable.
Geordan Pursglove, Beyond Commerce's Chief Executive Officer, commented, "Our initial investment for a minority stake in CityFreighter provides Beyond Commerce shareholders a potential huge upside in value. While other comparable Electric Vehicle startups are valued at hundreds of millions to billions of dollars, we were able to attain such an investment because of our relationships and strategic potential of Service 800 being able to provide customer service and data collection for CityFreighter. We made the investment to build a strategic partnership to help them with their data capture and telematics in the future."
Pursglove, continued, "E-commerce has grown significantly in the past decade, as new digital business models and smarter logistics concepts enable both instant and same-day deliveries (respectively growing
For additional information on CityFreighter, please visit: https://www.cityfreighter.com.
About Beyond Commerce, Inc.
Beyond Commerce, Inc. (OTC PINK:BYOC) is focused on business combinations of "big data" companies in global B2B internet marketing analytics, technologies and services. The Company's objective is to develop and deploy disruptive strategic software technology that will build on organic growth potential and to exploit cross-selling opportunities. Beyond Commerce plans to offer a cohesive global digital product and services platform to provide clients with a single point of contact for their big data, marketing and related sales initiatives. For additional information, please visit: https://beyondcommerceinc.com and https://www.service800.com.
Twitter: @incbyoc
Facebook: fb.me/incbyoc
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are subject to the "safe harbor" created by those sections for such statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate," "believe," "could," "design," "estimate," "except," "forecast," "goal," "intend," "look forward to," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would," or the negatives or other tense of such terms and other similar expressions intended to identify forward-looking statements and similar expressions. We use forward-looking statements relate to future events or future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels or activity, performance or achievements expressed or implied by these forward-looking statements.
Contact Information:
investors@beyondcommerceinc.com
p702-675-8022
ClearThink
nyc@clearthink.capital
SOURCE: Beyond Commerce, Inc.
View source version on accesswire.com:
https://www.accesswire.com/675205/Beyond-Commerce-Acquires-Minority-Stake-in-CityFreighter-an-Electric-Vehicle-Last-Mile-Delivery-Company
FAQ
What is the recent investment by Beyond Commerce in CityFreighter?
What are the key features of CityFreighter's CF1 BoxVan?
How will Beyond Commerce benefit from the investment in CityFreighter?
What is the expected timeline for CityFreighter's production?
How does the acquisition align with e-commerce trends?
