HOUSTON--(BUSINESS WIRE)--Feb 7, 2018--ExxonMobil announced today it has invested into Yoshi Inc., a Silicon Valley startup offering on-demand fuel delivery and vehicle care service. As a leading strategic investor, ExxonMobil gains a voting seat on the board of directors and will now provide Yoshi Inc. with high-quality fuels and lubricant products. This investment will allow ExxonMobil to shape a new channel in the market for its products.
Yoshi Inc. provides a mobile one-stop-shop vehicle care service, bringing fuel-ups, oil changes and car washes direct to the consumer. Customers can schedule gas deliveries and other services directly from their smartphones or computers. The subscription-based service is currently available to customers in Atlanta, Nashville, Austin, Chicago, Los Angeles, Silicon Valley and the San Francisco Bay Area, and Yoshi Inc. is planning to expand to 25 major U.S. cities with support from investors.
“The on-demand economy is changing nearly every aspect of our everyday lives, including consumer expectations about the way fuels and lubricants are purchased, delivered and used,” said Adam Wariner, Fuels and Lubricants Innovation Manager. “We believe the simplicity and convenience of this direct-to-vehicle care service will attract new customers to Exxon and Mobil branded products.”
ExxonMobil will provide Yoshi Inc. with fuels and lubricant products where available, and Yoshi Inc. will continue to manage the delivery service. Customers will receive Exxon or Mobil Regular or Supreme+ Synergy Fuel and Mobil 1 and Mobil Super lubricants, depending on the vehicle’s specification or driver preference.
“We believe Yoshi has a big opportunity to be part of the transformation underway in the automotive industry relating to how vehicles get fueled and serviced, which can more than double a vehicle’s cost over its lifetime,” said Yoshi CEO Nick Alexander. “We could not have a better syndicate of investors supporting us, including the leading US automaker and oil and gas company.”
ExxonMobil has been a leader in advancing technologies through its 135-year history, and this investment represents the latest demonstration of the company’s commitment to continuous innovation. The company spends approximately $1 billion a year on research and development across all business lines, which includes identifying new innovations to better serve customers as their needs and preferences change. Products like the Speedpass + mobile app enhance and simplify payment at the pump and can integrate with a variety of connected vehicle platforms.