DriveItAway Moves to the “Heart of Philadelphia’s Innovation District” in Philadelphia, PA’s University City – “Connected to Compete”
“We are delighted at this stage of our growth, to join Philadelphia’s largest community of funded, early-stage, startups at ic@3401, a vetted, diverse, interconnected community of experts, investors and resources,” - John F. Possumato, Founder & CEO, DriveItAway Holdings Inc.
PHILADELPHIA, July 21, 2022 (GLOBE NEWSWIRE) -- DriveItAway Holdings, Inc. (“DriveItAway”) (OTCQB: CLCN), the industry leader in automotive dealer new mobility platforms with its revolutionary subscription to purchase technology, founded by serial auto retail entrepreneur John F. Possumato, announced today that it has officially become part Philadelphia’s growing Innovation District in University City, by moving its headquarters to ic@3401. A partnership between the University City Science Center and Drexel University, ic@3401, is a shared workspace and incubator built around a culture of inclusion, innovation and entrepreneurship, bringing the financial, educational, and human talent focused to rapidly scaling enterprises.
“Entrepreneurship began for me in Philadelphia’s University City, when I enrolled in my first entrepreneurial management class at Wharton a long time ago,” says John F. Possumato, Founder & CEO at DriveItAway, “and all the years since, I’ve been in awe of the innovation, resources and growth of the greater University City Science Center community, dedicated to nurturing inclusive new innovation and entrepreneurship, in helping all to scale rapidly and successfully, culminating in things like the creation of the ic@3401 culture and community. Our company culture and mission, fit perfectly within this environment, and we are delighted at this stage of our growth, to join Philadelphia’s largest community of funded, early-stage, startups at ic@3401, a vetted, diverse, interconnected community of experts, investors and resources.”
“ic@3401 was created to nurture an inclusive culture, where all in our community, partners, experts, and investors offer resources and support to each other, in leading innovation and scaling new businesses,” says Eamon Gallagher, Senior Director of Commercialization at the University City Science Center. “We look forward to DriveItAway being part of our community, and support their sustainability initiatives, and working with them to enable rapid national expansion.”
The DriveItAway Program is for manufacturers, car dealers and consumers, as it enables all consumers, regardless of credit score or cash down payment, to drive and buy the vehicle of his/her choice.
The DriveItAway program provides new EV manufacturers and legacy OEMs a new distribution channel for their vehicles, as it provides an “infinite test drive” to a full range of consumers, from entry level to luxury buyers, to satisfy a market that is "EV curious" but does not want to make an immediate commitment to purchase. The driver has the right, but not the obligation, to buy the vehicle he or she is driving, with money paid in, given back as a bonus coupon towards the purchase. In this way, the DriveItAway Program it enables all consumers, regardless of credit score or cash down payment, to drive and buy the vehicle of his/her choice.
DriveItAway’s EV subscription program, is now starting in the greater Philadelphia/New Jersey area with General Motors Bolt/Bolt EUVs, and Polestar 2 vehicles, but will soon offer a full range of EVs, including Nissan Leafs and even Ford Escape Plug In Hybrids, throughout the United States. DriveItAway’s unique ‘EVs for Everyone’ program is the perfect “vehicle” to reduce the barriers to EV adoption for all drivers, perfect for people who are interested in an EV, but are put off by the higher initial cost as compared to a gas vehicle or are concerned about suitability and range anxiety.
About DriveItAway
DriveItAway is the first national dealer focused mobility platform that enables car dealers to sell more vehicles in a seamless way through eCommerce, with its exclusive “Pay as You Go” app-based subscription. DriveItAway provides a comprehensive turn-key, solutions driven program with proprietary mobile technology and driver app, insurance coverages and training to get dealerships up and running quickly and profitably in emerging online sales opportunities. The company is now introducing its ‘subscription to ownership’ platform to enable all consumers to drive and acquire new Electric Vehicles with its “EVs for Everyone” initiative. For further information, please see www.driveitaway.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect our good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. We caution investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release.
CONTACT INFORMATION:
DriveItAway Holdings, Inc.
John F. Possumato
john@driveitaway.com
For further information, please see:
www.driveitaway.com
