Momentum Groups signs with Tropos Technologies
May 25th, 2021
Tropos Technologies (“Tropos”) today announced the signing of a multi-year Memorandum of Understanding (“MOU”) with Momentum Groups (“Momentum”), a leading electric vehicle fleet management solution provider, to supply its Tropos Motors eLSVs (electric low speed vehicles).
Low speed vehicles are escalating globally, and the rapid growth is attributed to a breadth of demand across a number of applications including last mile delivery of products and food, various trades and utility uses, as well off-highway and on-campus usage. Tropos Motors eLSVs, combined with their customizable payload packages, have the flexibility to meet the needs of fleets in multiple vertical markets with zero emissions and a lower total cost of ownership.
Under the terms of the five-year MOU, Tropos and Momentum will collaborate to offer a complete solution to meet the increasing demands of organizations that are adopting electrified technology to replace traditional low speed vehicles. Together, the companies will offer the Tropos Motors eLSV portfolio, paired with flexible financing options, service, maintenance support, logistics and charging infrastructure consulting services from Momentum to champion the adoption of eLSVs. They are forecasting to jointly deliver up to 30,000 fleet vehicles over the next five years.
“We are thrilled to collaborate with Momentum to leverage the strengths and resources of both companies,” said John, Bautista, CEO of Tropos Technologies. “Our best-in-class technology portfolio, coupled with their turn-key fleet management and infrastructure consulting support will help customers transition to electric simply and quickly. We believe eLSVs will become increasingly important to the market given the zero-emissions and reduced total cost of ownership when compared to traditional vehicles.”
“Our customer base, which includes two of the largest fleet buying groups in the North America, continues to assess electrified solution offerings—with the preference of an EV option, when it fits the use case,” said Jack Pyros, CEO of Momentum Groups. “We have an ability to offer a broad range of applications with Tropos Motors-real work trucks that are specified to meet fleet operator needs. These are not just the golf cart platforms we see from other providers—but fully functioning, powerful utility vehicles. When paired with the power of the Momentum’s full-scale purchase and leasing options, our nationwide delivery network, maintenance and charging infrastructure services, we have created a low barrier to entry for companies looking to move to electric.”
About Tropos Technologies, Inc.
Tropos Technologies, Inc. is a Silicon Valley-based company that manufactures and distributes all-electric, street-legal vehicles, specializing in utility eLSVs under the Tropos Motors brand. These vehicles are designed for corporate, fleet, first-responder, agriculture, last-mile delivery, and construction applications.
Tropos employs the latest EV technology, experienced engineering, and modern design aesthetics. The Tropos Motors ABLE™ is a full line of durable, versatile, and available eLSVs. The Tropos Motors product line can handle large payloads and towing capacities and operate in too-tight quarters with a short wheelbase and turning radius. Tropos Motors eLSVs can be operated indoors, outdoors.
For more information, please visit http://tropostech.com or http://troposmotors.com to learn more about their vehicle platforms.
About Momentum Groups:
Momentum Groups, part of a 100 million dollar automotive and real estate group was founded in 2005 by Jack Pyros and Ardene Reilly, two executives with a strong corporate fleet, logistics, and finance backgrounds within companies like China Ocean Shipping Company (COSCO), Pittsburgh Logistics Services, G.E. Leasing, and ThyssenKrupp.
As an independent fleet management company, Momentum Groups provides its customers best-in-class fleet vehicle solutions, typically only enjoyed by large fleets, with leverage and decades of experience. We have opened up client and partnership opportunities with small, medium, and Fortune 500 organizations. Services include EV fleet service models, vehicle acquisition, distribution, transportation and financing, as well as discount fuel cards, safety and maintenance programs, commercial EV charging, and electronic payables (p cards).
For more information, please visit http://momentumgroups.com.
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Tropos Technologies and Momentum Groups undertake no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations.
