DropCar Announces Deal with Leading Peer-to-Peer Car Sharing Marketplace, Turo

NEW YORK–(BUSINESS WIRE)–DropCar,
Inc.
(NASDAQ:DCAR), a leading provider of last mile logistics
technology, mobility services and cloud based software for both the
automotive industry and consumers, today announced a deal with Turo,
the world’s leading peer-to-peer car sharing marketplace. DropCar’s
Mobility Cloud services will provide Turo customers in Los Angeles, San
Francisco, California, Washington D.C. and Newark, New Jersey an
enhanced vehicle pick-up and drop-off through DropCar’s software and
managed services platforms.

CEO Spencer Richardson stated, “We are excited to work with Turo, a true
leader in the sharing economy and proud to have them utilize DropCar’s
Mobility Cloud technology and managed services platform to enhance the
experience of consumers in their marketplace.”

Launched in 2010, Turo is a car sharing marketplace where guests can
book any car they want, wherever they want it, from a vibrant community
of local hosts across the US, Canada, the UK, and Germany. Guests choose
from a unique selection of nearby cars, while hosts earn extra money to
offset the costs of car ownership. A pioneer of the sharing economy and
travel industry, Turo is a safe, supportive community with more than
350,000 vehicles listed and over 850 unique makes and models.

“We look forward to working with DropCar and are excited to deploy their
technology to enhance vehicle delivery on our marketplace,” added Doug
Watt, VP Operations of Turo.

Turo hosts can request DropCar’s vehicle pick-up and drop-off services
via Turo’s host
tools webpage
. The rates range from $35 to $49 per hour and only
require a 24 hour advance notice, allowing for Turo hosts to have more
availability and flexibility in their Turo trips schedule.

David Newman, DropCar Chief Business Development Officer, added,
“DropCar’s last mile logistics platform will provide Turo hosts a
convenient option for getting their unique vehicle to a guest.”

About DropCar

DropCar’s mission is to power the next generation of mobility by
bringing automotive based products and services to everyone’s front
door. DropCar’s core Mobility Cloud platform and driver network helps
fleet owners, dealers, OEMs, retailers, and shared mobility companies
manage their last mile logistics and launch new consumer services.
DropCar’s consumer mobile app (on IOS Android) helps busy urbanites
reduce the overhead of owning a car in the city while unlocking its full
potential, at the tap of a button.

Learn more at https://drop.car/.

Forward-Looking Statements

This press release contains “forward-looking statements” that involve
substantial risks and uncertainties for purposes of the safe harbor
provided by the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical facts, included in this
press release regarding strategy, future operations, future financial
position, future revenue, projected expenses, prospects, plans and
objectives of management are forward-looking statements. Such statements
are based on management’s current expectations and involve risks and
uncertainties. Actual results and performance could differ materially
from those projected in the forward-looking statements as a result of
many factors, including, without limitation, the ability to project
future cash utilization and reserves needed for contingent future
liabilities and business operations, the availability of sufficient
resources of the company to meet its business objectives and operational
requirements and the impact of competitive products and services and
technological changes. The foregoing review of important factors that
could cause actual events to differ from expectations should not be
construed as exhaustive and should be read in conjunction with
statements that are included herein and elsewhere, including the risk
factors under the heading “Risk Factors” in DropCar’s filings with the
Securities and Exchange Commission. Except as required by applicable
law, DropCar undertakes no obligation to revise or update any
forward-looking statement, or to make any other forward-looking
statements, whether as a result of new information, future events or
otherwise.

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