Local Motors secured over $1 billion in financing from Elite Transportation Services (ETS) and Xcelerate for its autonomous Olli bus customers.
Whatever you think about driverless cars, taking a trip in an autonomous 3D printed bus would be an experience to remember. Don’t worry too much either, this bus, called the Olli, has a max speed of just 40km per hour.
Unveiled in 2016 and covered by All3DP, the Olli bus has since been undergoing testing and has now secured up to $1 billion of operational support.
Local Motors, the company behind the 3D printed bus, is now joining forces with Elite Transportation Services (ETS), subsidiary of Elite Parking Services, and Xcelerate, the automotive financing firm based in Texas. By teaming up, Local Motors secures “third party operational support and vehicle financing” for Olli.
ETS will be providing warranty service, insurance, routine maintenance, monitoring, management and operations as part of their all-inclusive operational solution. Any customers who engage in these services will benefit from ETS offering up to $1 billion in financing.
Meanwhile, Xcelerate is also providing up to $20 million in Olli Vehicle financing. They will be enabling customers who already have a relationship with transit companies to finance Olli for 84 months while continuing to work with their existing partners.
Wondering what’s so special about Olli? Aside from not using fossil fuels and being driven by IBM’s artificial intelligence “Watson”, it also has a 3D printed body. This body was 3D printed using a Big Area Additive Manufacturing (BAAM) system.
Eight passengers can fit in the Olli. The driverless bus can reach up to just 40km per hour. Although it’s unlikely to be the most thrilling ride of your life, it would spice up shuttles and be a futuristic addition to airports and hospitals.
“Olli is ready to change the way we view transportation. From neighborhoods to campuses to urban city centers, learn how Olli is the smart, safe, sustainable option for getting around,” the company explains on their website. Local Motors also believes “Olli is the answer to a sustainable, accessible transportation solution for all.”
Olli was on display at CES in Las Vegas this week. If you want to find out more or are interested in financing an Olli, Local Motors suggest that you visit their website.
Source: Press Release
License: The text of "Olli, 3D Printed Bus from Local Motors, Receives $1 Billion in Financing" by All3DP is licensed under a Creative Commons Attribution 4.0 International License.
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