PALO ALTO, Calif., Dec. 8, 2021 /PRNewswire/ -- Nauto, a
leading provider of AI-based vehicle safety technology for
commercial fleets and the automotive sector, announced today it has
launched a partnership with Electric Last Mile Solutions, Inc.
(Nasdaq: ELMS; ELMSW) ("ELMS"), a pioneer of electric and
intelligent mobility solutions for commercial vehicle
customers.
ELMS plans to offer Nauto's advanced predictive-AI fleet safety
platform as a customer option, available pre-installed on new
vehicles. The partnership will help drivers of ELMS vehicles avoid
collisions and enable fleet managers to improve operational
efficiency, reduce vehicle downtime and provide cost savings from
discounted insurance premiums. Nauto's safety platform option will
be available through the ELMS Air + Driver Safety Package.
"ELMS vehicles understand their environment, containing advanced
sensors with deep learning and predictive behavioral algorithms
that improve operational efficiency and reduce downtime," said
Jonathan Ballon, Chief Strategy and
Digital Officer, ELMS. "Together with Nauto, ELMS customers will
dramatically increase the safety and performance of their
drivers."
Trained on more than 1.3 billion AI-processed driving miles and
used by the world's top commercial fleets, Nauto's AI solution is
designed to warn drivers of imminent collisions before they happen.
These predictive alerts may translate into critical extra
time for drivers to react, helping to avoid collisions and
reduce the costs that result from them. Nauto technology has
demonstrated its ability to deliver preventive warnings with 95-99%
accuracy, and dramatically reduce risky driving behaviors in
just a few weeks.
Customers of ELMS' Urban Delivery and Urban Utility vehicles
will leverage Nauto's technology across various use cases and
industries, including parcel delivery, telecom, utilities, hauling,
and e-commerce.
"As a commercial EV leader, it's a natural fit for ELMS to
continue to innovate. This partnership will upgrade the safety
capabilities across ELMS fleets, and help keep communities safe,"
said Stefan Heck, CEO, Nauto. "We
look forward to working with ELMS to reduce risk for not only
drivers, but also vulnerable road users like cyclists, children,
and pedestrians. Nauto's fleet customers drive a disproportionate
number of urban miles, which are the most complex, highest
risk roads where fatalities take place. Together we're working
towards vision zero – zero emissions, zero fatalities."
About Electric Last Mile Solutions, Inc.
Electric Last
Mile Solutions, Inc. (Nasdaq: ELMS; ELMSW) is focused on defining a
new era in which commercial vehicles run clean as connected and
customized solutions that make our customers' businesses more
efficient and profitable. ELMS' first vehicle, the Urban Delivery,
is the first Class 1 commercial electric vehicle in the U.S.
market. The Company expects to begin production of its second
vehicle, the Class 3 Urban Utility EV, in the second half of 2022.
ELMS is headquartered in Troy,
Michigan. For more information, please visit
www.electriclastmile.com.
About Nauto
Nauto is a leading provider of innovative
advanced driver assistance system technology that improves the
safety of commercial fleets today and the various levels of
autonomous vehicles of tomorrow. Nauto's solutions combine
predictive-AI technology, data science, and more than 1.3 billion
AI-processed driving miles to help predict and prevent collisions
before they occur. This unique approach can improve driver
performance and help reduce collision loss, providing rapid ROI
while mitigating risk factors of greatest impact. Trusted by nearly
800 fleets worldwide, Nauto helps customers reduce up to 80% of
collisions with predictive driver alerts.
Forward-Looking Statements
This press release includes
"forward-looking statements" within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. The Company's actual results may differ from its
expectations, estimates and projections and consequently, you
should not rely on these forward-looking statements as predictions
of future events. Words such as "expect," "estimate," "project,"
"budget," "forecast," "anticipate," "intend," "plan," "may,"
"will," "could," "should," "believes," "predicts," "potential,"
"continue," and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements
include, without limitation, the Company's expectations with
respect to future performance of the business, the size, demands
and growth potential of the markets for the Company's products and
the Company's ability to serve those markets, the Company's ability
to develop innovative products and compete with other companies
engaged in the commercial delivery vehicle industry and/or the
electric vehicle industry, the Company's ability to attract and
retain customers, the estimated go to market timing and cost for
the Company's products, and the implied valuation of the Company.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside the Company's control and are difficult to predict. Factors
that may cause such differences include, but are not limited to:
(1) the inability to recognize the anticipated benefits of the
business combination, which may be affected by, among other things,
competition and the ability of the Company to grow and manage
growth profitably and retain its key employees; (2) changes in
applicable laws or regulations; (3) the possibility that the
Company may be adversely affected by other economic, business,
and/or competitive factors; (4) the impact of COVID-19 on the
Company's business; (5) any delays the Company may experience in
realizing its projected timelines and cost and volume targets for
the production, launch and ramp up of production of the Company's
vehicles and the modification of its manufacturing facility; (6)
the ability of the Company to obtain customers, obtain product
orders, and convert its non-binding pre-orders into binding orders
or sales; (7) the Company's ability to implement its business plans
and strategies; and (8) other risks and uncertainties described in
the "Risk Factors" section of the Company's Quarterly Report on
Form 10-Q for the quarter ended June 30,
2021 and in the Company's future filings with the Securities
and Exchange Commission. Some of these risks and uncertainties may
in the future be amplified by the COVID-19 outbreak and there may
be additional risks that the Company considers immaterial or which
are unknown. The Company cautions that the foregoing list of
factors is not exclusive. The Company cautions readers not to place
undue reliance upon any forward-looking statements, which speak
only as of the date made. The Company does not undertake or accept
any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in its expectations or any change in events, conditions or
circumstances on which any such statement is based.
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SOURCE Nauto