Toyota, BMW Invest in EV Shuttle System
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Venture funds take stakes in startup May Mobility, which uses electric vehicles for low-speed, self-driving systems in CBDs, campuses
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BMW i Ventures and Toyota AI Ventures, venture-capital arms of their respective automaking groups, are among the leading investors in the $11.5-million ¡°seed investment¡± funding round for a Michigan-based startup developing low-speed, self-driving electric shuttle systems.
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The startup is May Mobility, which has devised a package of autonomous vehicles to be used as point-to-point or circulating shuttles, such as for central business districts, parking complexes, or campuses. It was established last year by several automotive industry engineers and executives.
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01 Mar,2018
