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DENSO buys a stake in e-mobility startup Envoy

2 min read

Auto component supplier DENSO has taken a stake in Envoy Technologies, a California startup 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.

Founded in 2017, Envoy partners with CRE industry leaders to offer onsite mobility services such as electric car-sharing and EV charging for apartments, offices and hotels. Envoy’s Mobility as an Amenity service is a turnkey solution that includes technology to reserve and access vehicles, driver insurance, maintenance, and charging stations. The company has logged more than 1.25 million electric miles driven, and is currently available in 14 markets in 10 US states.

“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.

“As mobility needs change, DENSO continues to change along with them,” said Yoshifumi Kato, a senior executive officer at DENSO. “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.”

DENSO has long been focused on the MaaS market, and has actively built strategic partnerships in and outside Japan to meet the needs of an array of mobility providers. The company has acquired stakes in MaaS Global, the developer of Whim, an application that combines various means of transport, such as buses, taxis, bicycles, and car sharing, and Bond Mobility, which offers micromobility services in urban environments.

Source: DENSO

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