WEJO - WEJO STOCK NEWS

Wejo Group Limited (NASDAQ: WEJO) has expanded its partnership with Renault Group to include direct access to vehicle data via the Easy Connect for Fleet platform. This integration signifies Wejo's entry into the $38 billion fleet management market by 2024. The data will assist telematics service providers and fleet owners in improving operational efficiency through insights into vehicle performance. The partnership is expected to significantly enhance Wejo's capabilities in Europe, providing fleet managers with crucial metrics for better decision-making regarding their operations.

Wejo Group Limited (NASDAQ: WEJO), a leader in Smart Mobility, announced a virtual presentation at the Baird 2023 Vehicle Technology & Mobility Conference on February 15, 2023, at 11:25 AM ET. Founder and CEO Richard Barlow and CFO John Maxwell will discuss Wejo’s initiatives to enhance Smart Mobility products and services, its recent transaction with TKB Critical Technologies 1, and the company's outlook for 2023. The presentation replay will be available on their website after the event. Wejo organizes data from over 20.8 million vehicles, emphasizing its commitment to smarter, safer, and sustainable mobility solutions.

Wejo Group Limited (NASDAQ: WEJO) has retained approximately $56.7 million in its trust account following a final shareholder vote to extend the time for completing its business combination with TKB Critical Technologies 1 (NASDAQ: USCT) to June 29, 2023. The extension was approved by about 99% of votes cast, ensuring an additional $3.7 million was retained compared to previous reports. CEO Richard Barlow highlighted this retention as a sign of shareholder confidence and anticipates a 200-300% year-over-year revenue growth for 2023. The transaction aims to enhance Wejo's technological capabilities.

Wejo Group Limited (NASDAQ: WEJO) has announced a key milestone in its proposed business combination with TKB Critical Technologies 1 (NASDAQ: USCT). TKB retained approximately $53 million in its trust account, reflecting shareholder confidence in Wejo’s potential. The business combination aims to raise up to $100 million to support Wejo's anticipated growth of 200-300% in 2022 and similar expectations for 2023. A shareholder meeting is scheduled for January 27, 2023, to vote on the extension for the business combination deadline.

Wejo, a leader in connected vehicle data solutions, announced a partnership with Toyota Motor North America to provide personalized data services for fleet vehicles in the U.S.

This agreement marks a significant move towards capturing the projected $61 billion connected vehicle data market by 2030.

The Wejo ADEPT platform will process data from Toyota's fleet vehicles, enhancing telematics and fleet management insights, ultimately improving operations and driver safety.

Wejo Group Limited (NASDAQ: WEJO) has entered a definitive business combination agreement with TKB Critical Technologies 1 (NASDAQ: USCT) to secure up to $100 million in capital. The transaction, which is anticipated to close in Q2 2023, will maintain Wejo's ticker symbol on Nasdaq. Wejo reports a remarkable 600% revenue increase in Q3 2022 and projects growth of 200% to 300% in 2023, aiming for $20 million - $30 million in revenue. The company also plans to reduce its operating cash burn significantly.

Wejo Group Limited (NASDAQ: WEJO) has announced an extended collaboration with Microsoft, adopting the Microsoft Connected Fleets reference architecture. This partnership aims to enhance fleet management solutions, projected to be worth $38 billion by 2024, by integrating Wejo’s connected vehicle data into business processes. The collaboration will offer ISVs and fleet managers improved access to data, faster integrations, advanced analytics, and insights to optimize fleet operations without requiring new hardware. Wejo will showcase these innovations at CES 2023.

Wejo Group Limited has announced insights from connected vehicle data that illustrate how such data can aid emergency services during extreme weather events. During the recent bomb cyclone (December 20-26), over 60% of the U.S. was affected, with an increase in stationary vehicle journeys observed. Vehicles were employed for heat, power, and news updates, particularly in impacted areas like Ohio. This data informs resource prioritization for government departments, creating a potential $3.4 billion market opportunity in traffic intelligence.