Proprietary Bike Offers Improved Overall Experience For Riders
Gotcha Mobility LLC (" Gotcha "), a subsidiary of Last Mile Holdings Ltd. (" MILE ") (TSXV: MILE) (OTC: AZNVF), announced today the launch of its all-new fleet of e-bikes. The newly redesigned bikes use proprietary elements to offer a more comfortable ride, smoother electric motor and longer battery life.
The improved electric pedal-assist bike has an updated frame for a more comfortable riding position and overall experience. The airless tires better absorb potholes and bumps to create a smoother, easier ride.
The upgraded electric motor, manufactured by ANANDA, provides a more natural-feeling pedal-assist and a longer battery life. Riders can go longer distances with more leisurely rides thanks to the updated battery. The longer battery life reduces operational costs by requiring fewer trips to the warehouse for charging. The swappable battery allows Gotcha's fleet team to change batteries at hubs in each market, keeping more bikes on the road with on-the-fly maintenance.
"E-bikes are a big part of our future growth in new and existing markets, and we are committed to offering the broadest product suite to our partners," said Max Smith , CEO of MILE. "E-bikes will continue to differentiate us from others in our industry that are solely focused on e-scooters as we are seeing an increased demand in bike share.
"Nothing underscores this update more than the clear need for additional modes of transportation during COVID-19. Gotcha's city and university partners are looking to micro-mobility more than ever as a primary form of transportation. E-bikes serve as vital components across cities and college campuses as they provide riders socially-distant transportation alternatives to crowded buses and confined ride share vehicles."
The previous generation of bikes will be reallocated to other cities and campuses. Any unusable bikes will be salvaged for parts or properly disposed of to minimize waste.
Gotcha and MILE, formerly OjO Electric, have been developing innovative transportation solutions for over 11 years. As more communities continue to adopt shared mobility, Gotcha plans to engineer its products to meet the needs of riders and partners.
With comprehensive CDC-approved cleaning protocols and safety messaging in place, Gotcha is ensuring its riders and partners stay safe and informed.
For more information on Gotcha, visit ridegotcha.com .
Gotcha , a subsidiary of Last Mile Holdings, is a shared electric mobility company dedicated to providing innovative products and technologies that get people out of single-occupancy cars and safely onto efficient, sustainable micro-transit products. The company operates electric bikes, scooters, and cruisers as transportation solutions tailored to cities and universities across the US. Gotcha empowers communities to lead happier, more productive lives through the transformative power of affordable, accessible micro-transit. For more information, visit ridegotcha.com .
ABOUT Last Mile Holdings
Last Mile Holdings (TSXV: MILE), formerly OjO Electric, is one of the largest micro-mobility companies in the U.S., offering the broadest product suite in the industry. Last Mile has 30 university and 50 municipal contracted shared mobility systems under the OjO and Gotcha brands. The acquisition of Gotcha in the first quarter of 2020 provides an expansive growth pipeline and a portfolio of products including electric bikes, scooters, and cruisers. For more information, visit lastmile-holdings.com .
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Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: Last Mile Holdings and Gotcha's business and prospects and the Company's objectives, goals or future plans, including the planned deployment of its mobility units; and the business, operations, expected future costs and revenues for and management of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the ability of Company to meet its deployment targets, access to sufficient mobility units, usage of mobility units, meeting the requirements of the permits granted to Company including insurance, general business, economic and social uncertainties including the impact of COVID-19; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com ; and other discussed in this news release. Accordingly, the forward-looking statements discussed in this release, may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting the companies. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility of the adequacy or accuracy of this release.
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SOURCE Last Mile Holdings Ltd.