Faction and GoCar Tours Partner on Driverless Vehicle Rentals

Rhea-AI Summary

Faction Technology and GoCar Tours have partnered to implement driverless vehicle delivery systems using the FUV platform from Arcimoto. This collaboration will enable GoCar to deploy vehicles directly from depots to pickup locations, enhancing customer access and convenience. The driverless GoCar EVs are equipped with Faction's DriveLink® and TeleAssist™ technologies, allowing for a range of up to 100 miles. Pilot trials are anticipated to begin in 2023, facilitating a more efficient rental experience for customers in various cities.

Positive

• Partnership enhances customer access to GoCar rental services.
• Implementation of driverless delivery systems streamlines operations.
• Utilization of innovative driverless technology with DriveLink® and TeleAssist™.
• Expected pilot trials in 2023 may lead to expanded operational capabilities.

Negative

• None.

Partnership allows riders to experience driverless delivery of vehicles while expanding access across cities

SAN FRANCISCO & LAS VEGAS--(BUSINESS WIRE)-- Faction Technology, Inc. and GoCar Tours, Inc. today announced a partnership to develop driverless deployment of GoCar EV Sport vehicles, based on the FUV platform from Arcimoto, Inc. (NASDAQ: FUV). The announcement was made at the Arival 360 conference in Las Vegas.

GoCar driverless EV powered by Faction's DriveLink® and TeleAssist™ technology. (Photo: Business Wire)

The collaboration facilitates driverless delivery of GoCar Tour vehicles from GoCar’s depots to select pickup counters at partner locations, where customers can then drive them on tours and adventures in cities where GoCar operates.

“Leveraging Faction’s driverless technology to deploy vehicles allows GoCar to turn every hotel and tour partner in a city into a GoCar customer counter,” said Alasdair Clements, Co-Founder of GoCar. “By bringing vehicles to where our customers are, we can expand our reach, making it easier for riders to enjoy a GoCar Tour experience.”

Faction’s technology architecture is designed with driverless systems in mind, which allows it to incorporate new technology radically faster than legacy vehicle platforms. It partners with innovative companies to develop sophisticated teleoperation abilities, precise vehicle positioning, hazard recognition, and vehicle design to accommodate the 90 percent of urban trips that consist of one passenger traveling a few miles.

Equipped with Faction’s DriveLink^® and TeleAssist^™ technologies, the driverless GoCar EVs combine autonomy with remote human teleoperation. The driverless vehicle platform retains the GoCar EV Sport capabilities with up to 100 miles of city range, and includes patented GoCar Network technology and GoCar mobile tour guide.

“Enabling driverless electric vehicles for GoCar is an exciting application on multiple levels,” said Faction CEO, Ain McKendrick. “Not only are we able to expand GoCar’s existing rental business, but the form factor of a light electric vehicle is a great alternative to an oversized vehicle for quick tours and trips around cities.”

GoCar Tours takes customers to spectacular places few visitors get to see, and it can go where the tour buses can’t. Using the latest GPS guided-tour technology for self-guided driving tours, GoCar creates a unique experience. The technology takes users to all the best sites, recommends restaurants, cracks jokes, and tells the stories that bring a destination to life.

Jesse Fittipaldi, Interim CEO at Arcimoto said, “We have always envisioned our platform as the best, most efficient small form factor vehicle for moving goods and people. Customers will experience the new possible that our technologies solve, the intersection of convenience, fun and efficiency. A perfect story for Las Vegas.”

Pilot trials are expected to start in 2023 with Faction’s driverless technology powering deployment of GoCar vehicles from fleet depot locations to designated rental counters. Eventually GoCar customers will be able to summon a rental to a variety of locations on-demand.

For more information on Faction and GoCar, visit www.faction.us or www.GoCarTours.com

About Faction

Faction Technology, Inc. is a Silicon Valley startup that develops driverless solutions based on light electric vehicles. Founded in February 2020, Faction is on a mission to revolutionize micro-logistics and vehicle-on-demand. The company believes the future of sustainable transportation is to develop driverless vehicles that are safe, cost-effective, and right-sized to serve a range of use cases for both business and passenger transportation needs. For more information visit www.faction.us

About GoCar Tours

The world's first GPS-guided tour takes tourists on one-of-a-kind adventures through the streets of some of the world's most amazing cities. GoCar’s custom-designed tours guide users to a city's most iconic landmarks, wheeling through colorful, vibrant neighborhoods and past sweeping vistas while providing audio commentary on the rich histories that live around every corner. Conceived, developed and created by Nathan Withrington and Alasdair Clements, the first GoCar tour service launched in San Francisco in 2004. GoCar Tours has since expanded with operations and licensees located in: San Diego, CA; Monterey, CA; Barcelona, Spain; Lisbon, Portugal; ad Porto, Portugal.

About Arcimoto, Inc.

Arcimoto (NASDAQ: FUV) develops and manufactures ultra-efficient and affordable electric vehicles to help the world shift to a sustainable transportation system. Our flagship vehicle, the Arcimoto FUV®, is purpose-built for everyday driving and transforms ordinary trips into pure-electric joyrides. Every Arcimoto vehicle is built at the Arcimoto Manufacturing Plant in Eugene, Oregon.

Safe Harbor / Forward-Looking Statements

Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this press release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221010005581/en/

Faction / SparkPR

press@faction.us

Source: Faction Technology, Inc.

FAQ

What is the recent partnership involving FUV?

Faction Technology and GoCar Tours announced a partnership to develop driverless deployment of GoCar EV Sport vehicles based on the FUV platform.

When are the pilot trials for the driverless GoCar EVs expected to start?

Pilot trials using Faction's driverless technology are expected to start in 2023.

How does the partnership benefit Arcimoto (FUV) shareholders?

The partnership enhances GoCar's rental services and expands market access, potentially leading to increased revenue opportunities for Arcimoto.

What technologies are used in the driverless GoCar vehicles?

The driverless GoCar EVs are equipped with Faction's DriveLink® and TeleAssist™ technologies.