DENSO Takes a Stake in Envoy, an EV Startup Serving the Commercial Real Estate Industry’s Mobility Needs

KARIYA, Japan (Nov. 13, 2020) ― DENSO, a leading mobility supplier, today announced it has taken a stake in Envoy Technologies, an electric vehicle (EV) startup based in Culver City, California, that offers mobility services to the commercial real estate (CRE) industry. Through the investment, DENSO aims to create new revenue streams by offering the benefits of Mobility-as-a-Service (MaaS) to businesses, helping them move employees, customers and things more efficiently and safely.

Founded in 2017 by real estate and tech entrepreneurs Aric Ohana and Ori Sagie, Envoy partners with CRE industry leaders to offer onsite mobility services like electric carsharing and EV charging for apartments, offices, and hotels. Envoy's Mobility as an Amenity™ service is a turn-key solution that includes technology to reserve and access vehicles, driver insurance, maintenance, and electric vehicle chargers. Even in the face of a global pandemic, the company has experienced record utilization amounting to more than 1.25 million electric miles driven. Envoy is currently available in 10 states and 14 markets in the U.S.

"Early on, we realized that the world's transition to electric mobility will significantly impact our built world. With investors like DENSO, along with others from commercial real estate, mobility, and energy, we are poised to accelerate that transition sustainably." said Aric Ohana, Envoy's co-founder and CEO
“DENSO’s global reach and involvement in all things mobility will provide Envoy the ability to scale with its products and services, and standardize electric mobility as well as related energy solutions within communities around the world." added Ori Sagie, Envoy's co-founder and Executive Chairman.
By taking a stake in the company, DENSO will strengthen Envoy’s ability to propose and implement mobility services, identify the requirements and functions of vehicles used in EV carsharing services, and create new business models that link commercial properties with mobility.

“As mobility needs change, DENSO continues to change along with them,” said Yoshifumi Kato, a senior executive officer at DENSO Corporation. “Collaborating with Envoy allows us to combine our expertise in electrification and fleet management with their knowledge of commercial real estate, helping us both improve mobility for businesses so they can accomplish their goals more seamlessly.”

DENSO has long been focused on the MaaS market, and it is a key part of the company’s Second Founding, a strategic shift that has pushed DENSO into new mobility areas. In support of this, DENSO has actively built strategic partnerships in and outside Japan to meet the needs of an array of mobility providers. These have included taking stakes in MaaS Global, a Finland-based developer of Whim,* the world’s first full-fledged MaaS service, and Bond Mobility, which offers micromobility services in urban environments.

DENSO continues to seek additional partnerships and innovations in MaaS to help create transportation solutions that are safer, more secure and greener for all.

* Whim
This application provides an optimal mobility experience by combining various means of transport, such as buses, taxis, bicycles, and car sharing.
https://whimapp.com/

Profile of Envoy

DENSO is a $47.6 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its worldwide 200 facilities to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company’s 170,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.9 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2020. For more information about global DENSO, visit https://www.denso.com/global/en

Envoy Technologies, a Culver City, CA USA-based, provider of turnkey electric vehicle-sharing services, offers on-site, on-demand vehicles where people live, work and stay (i.e. apartments, condos, student housing, office campuses, co-working spaces, hotels). Envoy equips real estate owners and operators with a new and innovative way to enhance the lifestyle of their tenants, members and guests by providing Mobility as an Amenity™. Learn more at https://www.envoythere.com/