OjO debuts V2 model of e-scooter, purpose built for rideshare and on-demand delivery services

Highlights:

• Entire OjO rideshare fleet replaced with new highly equipped, custom designed OjO V2
• Currently 1,250 scooters deployed across Austin, Dallas and Memphis, with planned increase to 2,500 deployed by the end of January 2020
• Deployment of OjO scooters for drivers of on-demand delivery services, including food delivery apps, a key strategic focus, alongside planned rideshare ramp-up

OXNARD, CA and VANCOUVER, Oct. 31, 2019 /CNW/ - OjO Electric Corp. (the "Company" or "OjO") (TSXV: OJO), a Light Electric Vehicle (LEV) mobility solutions company, is pleased to announce OjO V2, the Company's newest, most highly equipped scooter, which was purpose-built for both rideshare deployment and for use by drivers of on-demand delivery service companies. On-demand delivery is a key strategic focus for the Company given the unique form-factor of the OjO scooter, and its potential to displace the CO2-emitting vehicles predominantly used by these services today.

OjO V2, with its dual 48V lithium-ion battery packs, has a range of up to 50 miles and is capable of a maximum speed of 20 mph with a maximum load of 300 lbs. These attributes, together with the OjO's comfortable, adjustable cushioned seat and rear storage basket, make it an ideal replacement for the CO2-emitting vehicles used in on-demand delivery services ranging from food delivery apps to package delivery.

"We believe that OjO has the potential to make a positive, green impact in today's '1-click' world by displacing a large chunk of the cargo vans, cars, and trucks used in on-demand deliveries with an all-electric fleet of our uniquely designed seated scooters," said Max Smith, CEO of the Company.

V2 Features

Now available for use in rideshare in Memphis, Dallas and Austin, the OjO V2 has more than 13 updates, including improved cushioned seats, integrated GPS technology and wider handlebars for safe and easy navigation.

The zero emission, fully-electric OjO V2 scooters are built with heavy-gauge aluminum made for optimal strength to withstand the demands of high rideshare and on-demand delivery usage for optimal strength, stability and safety. OjO V2 is a sit-down scooter built for bike lanes and streets and has speed control capabilities with variations of 8/10/12/15/18, and 20mph for no ride and slow ride zoning.

New OjO V2

"We're thrilled to announce the launch of OjO V2. We want to continually better our users' experiences by providing our riders with a safe, environmentally friendly, fun and easy way to commute," said Mr. Smith.

The new OjO V2 features lock-to technology, two swappable batteries, front and rear disc brakes, brake lights for visibility, an LED headlight, motorcycle grade pneumatic tires and a robust rear Hub Motor capable of climbing 18% grade.

In addition, OjO's geofencing enables variable speed controls and voice commands to promote safety. "We are continuing to work with local governments to ensure that OjO users are following the city's regulations, making OjO a safe solution for riders and pedestrians," said Mr. Smith. "As a design-first company, OjO is always working on future generations of our scooters to make the OjO the best ridesharing experience available."

For more information and to sign up to OjO's mailing list, please visit www.ojoelectric.com. Follow @OjOElectric on Twitter, Instagram and Facebook, and download the OjO mobile app on iOS or Android.

On behalf of OjO Electric Corp.

"Max Smith"
CEO and Director

About OjO Electric Corp.
OjO Electric Corp. (TSXV: OJO) is dedicated to providing safe, sustainable Light Electric Vehicle (LEV) mobility solutions in collaboration with municipal governments to reduce traffic congestion and carbon emissions. OjO's vision is to change rideshare for good by creating a sustainable mobility eco-system that connects people, cities and businesses. OjO's platform is built with open API's to allow for integration with partners and multi-modal transportation solutions. To find out more, please download the OjO mobile app or visit www.ojoelectric.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding Forward-Looking Information

This news release may contain forward-looking information or statements pertaining to the Company's objectives, goals or future plans and the business and operations of the Company. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "does not expect", "estimates", "intends", "anticipates", "does not anticipate", or "believes", or variations of such words and phrases or states that certain actions, events or results "may", "could", "would", "might" or "will" be taken to occur or be achieved. Forward-looking information or statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; those additional risks set out in the Company's Filing Statement and other public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. The foregoing list of risks and uncertainties is not exhaustive. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievement may vary materially from those expressed or implied by the forward-looking information contained in this news release. These factors should be carefully considered and readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date of this news release. All subsequent forward-looking information attributable to the Company herein is expressly qualified in its entirety by the cautionary statements contained in or referred to herein. The Company does not undertake any obligation to release publicly any revisions to this forward-looking information to reflect events or circumstances that occur after the date of this news release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

SOURCE OjO Electric Corp.

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