Easymile investment from Continental

EasyMile secures equity financing from global industrial technology group Continental

EasyMile, with this minority investment from Continental, will accelerate its expansion and extend its equity and commercial partnerships with leading industry players. The company already secured growth equity funding from integrated transport systems leader Alstom S.A at the outset of the year.

EasyMile develops and markets the EZ10 electric driverless shuttle and is at the forefront of autonomous navigation technology development. Shared driverless transportation is set to play a key role in efficiently addressing the “first mile – last mile challenge” enabling seamless mobility services for urban and suburban demographics.

EasyMile CEO Gilbert Gagnaire commented: “We are delighted to partner with Continental, a recognized leader in automotive technology, and known for its focus on quality. This partnership will accelerate our development of ubiquitous autonomous transportation solutions for passengers and goods. Our EZ10 vehicle is already the most deployed driverless shuttle globally and is a demonstration of the robustness and performance of its unique technology. We look forward to integrating Continental’s latest components and technology into our solutions to further improve performance and optimize costs”.

The completion of the transaction is subject to approval by the relevant antitrust authorities.