Local Motors receives investment from GameAbove Mobility to scale American-made autonomous vehicle, Olli

CHANDLER, Ariz., May 6, 2021 /PRNewswire/ -- Local Motors, a leader in the design, manufacturing, and deployment of autonomous vehicles, announced today, it has received funding to help scale the production of Olli, the company's electric autonomous vehicle. The investment from GameAbove Mobility, a division of CapStone Holdings Inc., demonstrates a continued interest in partnering with established, innovative companies to create next-generation mobility solutions.

The investment will allow Local Motors to scale AV production as demand for level 3 autonomous vehicles continues to grow within campuses, city centers, and municipalities. Local Motors manufactures Ollis from a microfactory in Knoxville, Tennessee. The build floor's production capacity will increase as a result of GameAbove Mobility's investment.

Olli 2.0's autonomy system provides safe autonomous operation and unmatched rider experience. Capabilities like dynamic obstacle avoidance help meet the diverse needs of public and private deployments in the Americas, Europe, and Asia. GameAbove Mobility's investment will allow Local Motors to pursue additional software and sensor partnerships to continue improving Olli capabilities.

Jay Rogers, Local Motors CEO, sees the partnership as a critical step in bringing autonomy to today's communities. "GameAbove's investment and strategic partnership are important to fulfill the near-term demands for further deployment of Olli, our autonomous electric vehicle. It will also enable us to continue advancing our technologies and microfactory processes," he said.

Keith J. Stone, CEO and founder of CapStone Holdings said, "Our focus will be on companies like Local Motors to utilize their technology and advanced manufacturing methods, and leverage our experiences to establish an international model of commercialized deployment."

About Local Motors
Local Motors designs, manufactures, and deploys next-generation vehicles. Founded in 2007 with a belief in open collaboration, Local Motors began low-volume vehicle manufacturing of open-source designs utilizing a  microfactory model. Since its inception, Local Motors has debuted no less than three world firsts; the world's first co-created vehicle, the world's first 3D-printed car, and the world's first co-created, autonomous, electric vehicle, Olli. We believe that Olli is the answer to a sustainable, accessible mobility solution for all.

Learn more - localmotors.com

GameAbove Mobility is a CapStone Holdings Inc. company that provides capital and strategic guidance to companies delivering innovative mobility solutions. Investments are made with established companies propelling technology and deploying products through public-private collaboration, research and development. https://www.gameabove.com/

Contact:
Matthew Bourland
920-257-9590
[email protected]

SOURCE Local Motors

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