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EV Tech OEM Indigo Technologies Closes Strategic Investment From Foxconn To Accelerate Its Smart EVs Solutions
March 25, 2024 | PRNewswireEstimated reading time: 2 minutes
Indigo Technologies, a robotics focused Smart EV OEM with breakthrough road sensing SmartWheels™ invented by team out of MIT, today announced it has received a strategic investment from Hon Hai Technology Group (Foxconn). The investment, which recently gained regulatory approval after being first announced late last year, accelerates Indigo, the US automotive tech innovator in its development of smart, smooth and efficient light utility EVs designed for sustainable ride hail, delivery and autonomous transportation services.
Indigo EVs will help transportation network companies (TNC) and delivery network companies (DNC), fleet management companies (FMC) and the millions of businesses, taxi drivers and gig economy work force to become more profitable while driving to a more sustainable future.
"Our cities, citizens and businesses need affordable and desirable EVs that improve safety, utility and comfort," says Will Graylin, CEO of Indigo. "We are thrilled to be partnering with Foxconn on the mission to create technology for smart living and deliver the next generation of lighter, more cost effective EVs for sustainable mobility at scale. Foxconn's Chief Strategy Officer for Electric Vehicles Mr. Jun Seki, who was former CEO of Nidec and COO of Nissan, joins Indigo's Board of Directors adding further innovation depth and global supply chain connections as we launch vehicles in 2025".
According to Foxconn, this will support the vision to turn an MIT invention into a global innovation with commercial adoption. Partnered with the largest TNCs, DNCs and FMCs, Indigo's EV software and hardware solutions with TaaS Transport-as-a-Service package will include fleet transport operations and manage autonomous fleet mobility on public roads.
Indigo invented the world's only road sensing SmartWheels™, robotics hardware and software that fully integrates drivetrain and suspension as a tech package, to enable a whole new vehicle architecture, making lighter, more efficient EVs feel incredibly smooth and stable, yet more roomy and affordable. Indigo first SmartWheels™ powered EVs, the FLOW, will have more usable cabin space, a lower flat floor, a smoother ride experience and better unit economics than any vehicle of its class. The FLOW will have 180 cubic feet of space, approximately 200 miles of range, priced near $37K and is expected to hit the roads of America late 2026.
Indigo will also deliver a smaller Smart EV called the DASH with the latest telematics and sensors connected to its cloud software to help fleets lower risks and total-cost-of-ownership while improving service experiences. The DASH will have 90 cubic feet of space, 140 miles of range, priced near $27K and will be in trial 2H 2024, with volume delivery early 2025.
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