Yoshi Mobility goes green, spins off fueling division
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NASHVILLE, Tenn., Nov. 4, 2024 ~ Yoshi Mobility, a leading tech-enabled mobility solutions company, has recently announced a strategic move to spin off its fuel division in order to focus on sustainability and an electric future. The company has entered into a letter of intent to sell its fleet fueling operation to EZFill Holdings (NASDAQ: EZFL).

Founded in 2016 from Y-Combinator, the renowned Silicon Valley accelerator, Yoshi Mobility initially started as a direct-to-consumer mobile fueling business. However, the company has since expanded and evolved, leading to this decision to divest from its traditional fueling division. This move will allow Yoshi Mobility to concentrate on three innovative and rapidly growing service solutions: mobile vehicle charging for electric and autonomous fleets, virtual vehicle inspections for partners like Uber and Turo, and on-site preventative maintenance.

According to Bryan Frist, CEO & Co-Founder of Yoshi Mobility, "Innovation is in our DNA and we are constantly iterating and improving on the solutions that we provide to our fleet partners nationwide." He further explains that by spinning off their fuel business and focusing solely on solving problems faced by fleet owners, they are meeting the changing needs of enterprise customers while also contributing towards a safer, cleaner, and more sustainable future of transportation.

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This decision marks the latest step in Yoshi Mobility's start-up story and aligns with their long-term vision of reducing environmental impact and adapting to the growing demand for greener solutions in the automotive industry. In the past year alone, Yoshi Mobility has successfully brought its EV charging solutions to market with enterprise customers including major OEMs, autonomous vehicle companies, and rideshare operators across the country. These initial customers are large EV operators managing hundreds of light-duty vehicles requiring up to 1 megawatt of energy per day. The company boasts an impressive turnaround time of just 10 days for deploying their services once under contract.

Frist states that they are committed to an EV future and believe that they are uniquely positioned to make it a reality. He explains, "Our turn-key gap charging solution is already accelerating the adoption of EVs across the country for fleet operators who do not have an easy way to connect to the utility grid to charge their vehicles." In addition to this commercially available product, Yoshi Mobility is also developing a proprietary 240 kW fast-charger on wheels that offers fleet owners a truly emissions-free solution. This fast-charger, which is the first fully electric and zero-emission mobile charger in its class, can provide one hundred miles of charge to a fleet vehicle in less than 10 minutes.

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Looking ahead, Yoshi Mobility remains focused on building products that solve pain points of tomorrow. Frist states, "Our team's collective experience and expertise give us a winning edge as we take on what's next and continue to deliver high-value, innovative solutions that will advance mobility today and in the years ahead." With millions of vehicle services completed over the years, Yoshi Mobility has an intimate understanding of the market and is well-equipped to tackle future challenges in the industry.

In conclusion, Yoshi Mobility's decision to divest from its fuel division showcases their commitment towards sustainability and an electric future. With their innovative solutions and focus on solving problems faced by fleet owners, they are well-positioned to make a significant impact in the automotive industry.
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