GOODYEAR, DRIVE TLV JOIN FORCES TO EXPLORE ADVANCED MOBILITY SOLUTIONS WITH ISRAELI STARTUPS

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Nov 08, 2022, 09:00 ET

Drive TLV will strengthen Goodyear's connections within the Israeli mobility ecosystem
Goodyear will offer collaboration and investment opportunities for Drive's startup network

AKRON, Ohio, Nov. 8, 2022 /PRNewswire/ -- To help expand its footprint into the Israeli mobility ecosystem, The Goodyear Tire & Rubber Company (NASDAQ: GT) is teaming up with Drive TLV, an Israel-based mobility incubator focused on the future of mobility.

Goodyear and Drive TLV are joining forces to explore collaboration and investment opportunities with Drive's network of mobility startups.

Since 2017, Drive TLV has supported more than 50 mobility-focused startups through its FastLane commercialization program along with access to advanced prototyping labs and shared workplaces that encourage networking and collaboration. Drive also connects startups with its corporate partners to help both parties develop viable market-ready solutions.

Drive will help facilitate collaboration opportunities focused on advanced mobility solutions between Goodyear and their network of startups. Drive will also connect Goodyear Ventures, the company's venture capital fund, with potential investment opportunities in Drive's startup network.

"Israel is a hot spot for innovation, with many cutting-edge technology companies working to advance the future of mobility," said Abhijit Ganguly, managing director, Goodyear Ventures. "Goodyear has already invested and collaborated with some of these companies. Working with Drive will supercharge our efforts here, helping us access more of the great talent, innovation and technology in this rapidly growing ecosystem."

With experience enabling mobility for nearly 125 years, Goodyear will share its expertise and leverage its core assets to support startups that are a strategic fit with the company.

"Drive TLV is thrilled to partner with Goodyear, a company that is helping to shape the future of mobility around the world," said Itay Erel, CEO of Drive TLV. "Since its onset, Goodyear has been at the forefront of innovation by striving towards convenient, accessible, sustainable, efficient and safe technologies, all of which mirror Drive TLV's core values. We have no doubt, that this new relationship will continue bringing value to Drive TLV's ecosystem of corporate partners & startups, including a few of Drive's Fastlane companies that Goodyear has already invested in."

About The Goodyear Tire & Rubber Company

Goodyear is one of the world's largest tire companies. It employs about 72,000 people and manufactures its products in 57 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

About Drive TLV

Drive TLV is a unique innovation hub focused on smart mobility. Drive leverages its in-depth knowledge of the Israeli hi-tech ecosystem to handpick the most promising smart mobility startups and enhance their business with strategic guidance. On the other end, Drive forms and maintains strong partnerships with industry-leading global mobility enterprises. Finally, Drive creates perfect matches between its startups and their industry leading partners, generating value for both. When needed, Drive molds the startups' innovative technologies to suit its partners' needs and helps both parties co-create viable market-ready solutions.

SOURCE The Goodyear Tire & Rubber Company