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GlobeNewswire·

Envoy and LACI Collaborate to Bring Electric Car Sharing Across New Jersey Through $8.5 Million NJDEP-Funded Initiative

  • Envoy, a subsidiary of Dot Ai, is launching a shared EV car-sharing program in New Jersey in collaboration with the Los Angeles Cleantech Incubator (LACI).
  • The initiative is funded by an $8.5 million grant from the New Jersey Department of Environmental Protection's eMobility Grant Program.
  • Deployments are expected to begin within weeks, targeting up to 30 electric vehicles across Hudson & Bergen Counties.
  • Residents will access EVs by the hour or day without the financial burdens of ownership, such as insurance, maintenance, or payments.
  • This expansion marks the first time Envoy & LACI are operating outside California, building on successful pilots in Los Angeles neighborhoods.
  • The project is a key component of LACI's City Climate Innovation Challenge to integrate emissions reductions tailored to municipal needs.
  • Funding supports broader state goals to reduce transportation emissions, which are New Jersey's largest source of greenhouse gases.
  • Envoy & LACI are evaluating sites including affordable housing & market-rate properties while inviting hotels & workplaces to join.
  • The program aims to provide reliable transportation for daily needs like medical appointments or grocery runs to underserved communities.
  • Forward-looking statements in the release note potential risks regarding site selection, permitting, infrastructure installation, & funding continuity.
Company
CID Holdco, Inc.
Keywords
Nasdaq:DAIC, CID Holdco, Inc., EV, NJDEP, eMobility, LACI