Category: Official Press Release

Via and SamTrans Launch On-Demand Public Transportation in Pacifica, California

Published May 6, 2019 7:00 am, Via NYC
Via and SamTrans Launch On-Demand Public Transportation in Pacifica, California
The new partnership with SamTrans brings another shared, on-demand service powered by Via to the San Francisco Bay area.

May 6, 2019 (Pacifica, CA) — Via, the world’s leading provider and developer of on-demand shared mobility solutions, today announced a new microtransit deployment in the San Francisco Bay Area, operated in partnership with public transportation leader SamTrans. The new service brings corner-to-corner shuttle service to Pacifica, California.

Starting May 6, SamTrans will offer on-demand shared transportation within the coverage area for the standard SamTrans fare. The new on-demand service replaces the fixed-route FLX Pacifica bus service, offering customers a more convenient public transportation solution.

SamTrans OnDemand is powered by Via’s advanced algorithm, which enables multiple riders to seamlessly share a single vehicle. The powerful technology directs passengers to a nearby corner — a virtual bus stop — for pick up and drop off, and dynamically routes the vehicle in real-time, allowing for quick and efficient shared trips without lengthy detours, or inconvenient fixed routes and schedules.

“Via’s powerful technology is redefining mobility across the globe, seamlessly integrating with public transit infrastructure to provide on-demand dynamic transportation solutions,” said Daniel Ramot, co-founder and CEO of Via. “We are delighted to be partnering with SamTrans to help Pacifica lead the way in mobility innovation through the launch of this convenient, affordable, and eco-friendly service.”

SamTrans operates 70 routes throughout San Mateo County. Funded in part by a half-cent sales tax, the San Mateo County Transit District also provides administrative support for Caltrain and the San Mateo County Transportation Authority.

“SamTrans OnDemand is an innovative service that will better serve Pacifica residents by providing a flexible and affordable transportation option,” said SamTrans Chief Planning Officer April Chan. “If this way of delivering service works well, we hope to extend this to other neighborhoods in San Mateo County that can take advantage of this service.”

“Pacifica has unique challenges regarding transportation that result in congested roads and needless stress,” said Pacifica Mayor Sue Vaterlauss. “SamTrans OnDemand offers an alternative that will appeal to students, seniors and people that want options beyond owning a car.”

SamTrans OnDemand allows riders to request a trip through an iOS or Android app operated by Via, or through the SamTrans Customer Service Call Center. Once a trip is booked, a shuttle is routed to the pickup location and can be tracked through the app in real-time.

Via has been tapped by cities and transportation players around the world to help re-engineer public transit from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network. Via now has more than 70 launched and pending deployments in more than 15 countries. To learn more about Via, visit www.platform.ridewithvia.com.

About Via

Via is re-engineering public transit, from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network. Via’s mobile app connects multiple passengers who are headed the same way, allowing riders to seamlessly share a premium vehicle. First launched in New York City in September 2013, the Via platform operates in the United States and in Europe through its joint venture with Mercedes-Benz Vans, ViaVan. Via’s technology is also deployed worldwide through dozens of partner projects with public transportation agencies, private transit operators, taxi fleets, private companies, and universities, seamlessly integrating with public transit infrastructure to power cutting-edge on-demand mobility. For more information, visit www.platform.ridewithvia.com.

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Tesla Completes Acquisition of Maxwell Technologies

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Tesla Completes Acquisition of Maxwell Technologies

May 16,2019

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Tesla Completes Acquisition of Maxwell Technologies

PALO ALTO, Calif., May 16, 2019 (GLOBE NEWSWIRE) — Tesla, Inc. (NASDAQ: TSLA) today announced the successful completion of its previously announced offer to exchange all outstanding shares of common stock of Maxwell Technologies, Inc. (“Maxwell”) for 0.0193 of a share of Tesla common stock, together with cash in lieu of any fractional shares of Tesla common stock, without interest and less any applicable withholding taxes.

The exchange offer expired at 11:59 p.m., Eastern Time, on Wednesday, May 15, 2019. As of the expiration of the exchange offer, a total of approximately 36,764,342 shares of common stock of Maxwell were validly tendered in the exchange offer and not validly withdrawn, representing approximately 79% of the aggregate voting power of the shares of Maxwell common stock outstanding immediately after the consummation of the exchange offer. All shares of Maxwell common stock that were validly tendered and not validly withdrawn prior to the expiration of the offer have been accepted by Tesla for payment in accordance with the terms of the exchange offer.

Following to the completion of the exchange offer, Tesla completed the acquisition of Maxwell by consummating the second step merger contemplated by the previously announced merger agreement between Tesla and Maxwell. As a result of this merger, all shares of Maxwell stock that were not tendered in Tesla’s exchange offer were cancelled in exchange for the right to receive the same consideration paid for Maxwell stock in the exchange offer.

Forward-Looking Statements

This communication contains forward-looking statements that involve risks and uncertainties. These forward-looking statements are based on current expectations, estimates and forecasts, as well as the beliefs and assumptions of Tesla’s management, and are subject to risks and uncertainties that are difficult to predict. Many factors could cause actual results or events to differ materially from those anticipated, including: risks and uncertainties discussed in this communication and those matters described under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of Tesla’s Annual Report on Form 10-K for the year ended December 31, 2018 and Tesla’s Quarterly Report on Form 10-Q for the three months ended March 31, 2019, subsequent Reports on Form 8-K, the Schedule TO relating to the offer and other filings Tesla makes with the Securities and Exchange Commission. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. We do not assume any obligation to update any forward-looking statements.

Source: Tesla, Inc.

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