Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE
American: MRT), Türkiye’s leading mobility super app, today
announced that it has completed the deployment of 4,000 new custom
designed e-mopeds across the country. Marti received delivery of
the final batch of the 4,000 e-mopeds in Q2 2023, and has been
actively deploying the vehicles over the summer months.
The Company currently offers four services, consisting of ride
hailing, e-mopeds, e-bikes, and e-scooters, to over 4.5M unique
riders across Türkiye. Together with the completion of this e-moped
deployment, the Company expects to reevaluate potential expansions
of its two wheeled electric vehicle fleet no earlier than the
summer of 2024.
Marti had released its sustainability report on September 5,
2023 (https://ir.marti.tech/sustainability). The completion of the
e-moped deployment aligns with the results of Marti's
sustainability report and supports Marti's strategy of providing
urban transportation services that contribute to building a more
sustainable future. The report shows that e-mopeds’ lifecycle
greenhouse gas emissions are 40% less than an average ride with
alternative modes of transportation in Türkiye. Marti is working
towards achieving net-zero Scope 1 and Scope 2 emissions by 2030,
with a goal to launch net-zero inbound logistics operations by 2030
within Scope 3 emissions.
Building on the success of a previous pilot program involving
1,000 e-mopeds introduced by Marti in Türkiye in 2021, the
deployment of these 4,000 new high-performance e-mopeds marks a
significant advancement to build resilient transportation
infrastructure and foster innovation. Learning from the 1,000
e-moped pilot, Marti redesigned its new e-mopeds for higher
performance and longevity, and customized them for Türkiye’s
topographical and climate conditions. These improvements
include:
- Implementing vehicle dashboard, topcase, and floor protection
plates to minimize wear and tear,
- Utilizing lithium iron phosphate batteries to improve charging
cycle lifetime and reduce charging time,
- Setting acceleration limits to balance speed and battery drain
in Istanbul’s hilly terrain,
- Integrating IoT box sensors to anticipate and minimize theft
and vandalism.
Together with improved vehicle features and design, and larger
fleet size, Marti expanded the geographic zone of its e-moped
operations from Istanbul, where it launched the 1,000 e-moped
pilot, to Izmir, Antalya, and Mugla. The completion of the 4,000
e-moped deployment contributes to Marti's goal, shared in the
Company's sustainability report, of enhancing mobility for all by
providing accessible, affordable, and equitable mobility
services.
E-mopeds are a key pillar of Marti’s comprehensive urban
transportation strategy to address the wide range of transportation
needs of urban residents across Türkiye. In contrast to its
e-scooter and e-bike services, which feature lower travel speeds
and cater to shorter travel distances, and its ride hailing
services, which are performed by cars and motorcycles that cater to
longer travel distances, e-mopeds serve as sturdy vehicles that are
well-suited to cover medium travel distance trips within urban
areas.
Marti believes the demand for such trips is ubiquitous across
Türkiye’s largest urban cities, and is the reason why Marti has
expanded its e-moped services beyond Istanbul to Izmir, Antalya,
and Mugla. Istanbul has a population of 15.9M people, while Izmir,
Antalya, and Mugla have populations of 4.5M, 2.7M, and 1M people,
respectively.
With 4,000 new e-mopeds, Marti is positioned to serve a
population of 24.1M people. Given low penetration in its existing
operational cities, the Company believes that its e-moped service
is still just scratching the surface of demand. With the capital
raised from its public listing, Marti is well positioned to
continue to scale its services to meet demand.
Marti’s custom designed 4,000 e-moped fleet is producing higher
daily net revenue per vehicle than the pilot program fleet, and is
expected to have a useful life in excess of 4 years, or through
2027.
About Marti Technologies, Inc.
Founded in 2018, Marti is Türkiye’s leading mobility app,
offering multiple transportation services to its riders. Marti has
launched a ride hailing service that matches riders with drivers
traveling in the same direction and operates a large fleet of
e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are
serviced by proprietary software systems and IoT infrastructure.
For more information visit www.marti.tech.
Cautionary Note Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, also known as the Private Securities Litigation Reform Act
of 1995. Any express or implied statements contained in this press
release that are not statements of historical fact and generally
relate to future events, hopes, intentions, strategies, or
performance may be deemed to be forward-looking statements,
including but without limitation statements regarding deployment of
the 4,000 new e-mopeds, anticipated benefits of the e-moped
redesign, and demand for the new e-mopeds and medium travel
distance trips. Words such as “expect,” “estimate,” “project,”
“budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,”
“will,” “could,” “should,” “might,” “possible,” “believe,”
“predict,” “potential,” “continue,” “aim,” “strive,” and similar
expressions may identify such forward-looking statements, but the
absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements involve
significant risks and uncertainties that could cause the actual
results to differ materially from the expressed or implied
forwarding-looking statements, including, but not limited to: (i)
the effect of the public listing of our securities on our business
relationships, performance, financial condition and business
generally, (ii) risks that the business combination may disrupt our
current plans or divert management’s attention from our ongoing
business operations, (iii) the outcome of any legal proceedings
that may be instituted against us or our directors or officers
related to the business combination or otherwise, (iv) our ability
to maintain the listing of our securities on the NYSE American, (v)
volatility in the price of our securities due to a variety of
factors, including without limitation changes in the competitive
and highly regulated industries in which we plan to operate,
variations in competitors’ performance and success and changes in
laws and regulations affecting our business, (vi) our ability to
implement business plans, forecasts, and other expectations, and
identify opportunities, (vii) the risk of downturns in the highly
competitive tech-enabled mobility services industry, (viii) our
ability to build our brand and consumers’ recognition, acceptance
and adoption of our brand, (ix) the risk that we may not be able to
effectively manage our growth, including our design, research,
development and maintenance capabilities, (x) technological changes
and risks associated with doing business in an emerging market,
(xi) risks relating to our dependence on and use of certain
intellectual property and technology and (xii) and other important
factors discussed under the caption “Risk Factors” in the Company’s
preliminary prospectus filed with the Securities and Exchange
Commission (the “SEC”) on July 31, 2023, as such factors may be
updated from time to time in the Company’s other filings with the
SEC, accessible on the SEC’s website at www.sec.gov and the
Investors Relations section of Company’s website at
https://ir.marti.tech. Any investors should carefully consider the
risks and uncertainties described in the documents filed by the
Company from time to time with the SEC as most of the factors are
outside the Company’s control and are difficult to predict. As a
result, the Company’s actual results may differ from its
expectations, estimates and projections and consequently, such
forward-looking statements should not be relied upon as predictions
of future events. The Company cautions not to place undue reliance
upon any forward-looking statements, including projections, which
speak only as to management expectations and beliefs as of the date
they are made. The Company disclaims any obligation or undertaking
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, other than
to the extent required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231107750466/en/
Marti Technologies, Inc. Turgut Yilmaz
investor.relations@marti.tech
Marti Technologies (AMEX:MRT)
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