In recent months, we have seen a continued vibrant geo political relationship between Japan and the USA. The same can be observed with the strong and valuable economic ties that exist between the countries. Some of Glydways’ earliest commercial discoveries and investors originate in Japan. In fact, some of the most robust discussion and support during the past few years have Japanese origins.
In this context then, perhaps it is not a huge surprise that we are thrilled to welcome three new strategic investors and partners to Glydways. Suzuki, ENEOS, and Mitsui Chemical are giants in Japan’s industrial sector and each brings a unique perspective to the transit innovations we are building. The investment from these three companies takes the total amount that Glydways has raised to over $100 million.
In addition to investing capital, Suzuki, ENEOS and Mitsui will be catalysts for Glydways’ expansion into Asia. There are over 4000 cities around the world, many of which are located in the Asia Pacific region, that have the population and density to support an urban transit system, but just can’t afford the enormous price tag that typically comes with them by relying on solely the existing transit mode options. We believe we have cracked the code on significantly reducing both the Capex and the Opex required to build and operate the Glydways system and this is attracting considerable interest from cities across the Asia region, from Japan, Philippines, Singapore and Vietnam for example.
Our CEO Gokul Hemmady said:
“Having three of the most important companies in Japan invest in Glydways is true validation of our technology and business. Additionally, the wealth of knowledge and experience they bring as counselors and advisors is priceless. The entire Glydways team looks forward to working with Suzuki, ENEOS Holdings, and Mitsui Chemicals as we progress closer to our vision of transforming the world’s transportation infrastructure.”
Interestingly, there are also discussions with Suzuki to be Glydways’ strategic automotive manufacturing partner. In addition to the cars and motorcycles it has developed and manufactured for decades, Suzuki is a pioneer in the creation of the “Kei-car,” the smallest, expressway-legal vehicle in Japan. The opportunity to tap into this high-level of knowledge and expertise is truly significant.
The entire Glydways team looks forward to working with Suzuki, ENEOS Holdings, and Mitsui Chemicals as we progress closer to our vision of transforming the world’s transportation infrastructure.
Gokul Hemmady, Glydways CEO
Mr. Toshihiro Suzuki, Representative Director & President of Suzuki Motor Corporation said:
“We have a keen interest in the Glydways mission to solve traffic issues globally by using their compact vehicles and lightweight, dedicated infrastructure. Their solution has much in common with Suzuki’s ‘Smaller, Fewer, Lighter, Shorter, and Beautiful’ philosophy, and we would like to support Glydways in achieving its vision by offering our expertise, experience, and technology for making small cars.”
Given Suzuki is truly a global company and brand, this type of manufacturing partnership could assist Glydways with deployments across many parts of the world, including the USA for example, that would help ensure a Made in America compliance.
[Glydways’] solution has much in common with Suzuki’s ‘Smaller, Fewer, Lighter, Shorter, and Beautiful’ philosophy, and we would like to support Glydways in achieving its vision by offering our expertise, experience, and technology for making small cars.
Mr. Toshihiro Suzuki, Representative Director & President of Suzuki Motor Corporation
ENEOS is Japan’s leading energy and materials company and its investment in Glydways represents the company’s commitment to urban revitalization and a carbon-neutral future. Mr. Yuichiro Fujiyama, Senior Vice President, CTO, ENEOS Holdings, Inc., said,
“The on-demand transportation system utilizing compact autonomous vehicles and dedicated roadways developed by Glydways is anticipated not only to address the challenges of existing transportation infrastructure and the forthcoming issues associated with the automation of vehicles, but also to serve as an innovation that revitalizes urban environments. Furthermore, ENEOS Group is committed to achieving a carbon-neutral society through energy transition, and we believe that Glydways plays a crucial role in realizing the vision we advocate. Leveraging the strength of our group company ENEOS, which possesses a network of approximately 12,000 service stations, we aim to contribute to the advancement of Glydways by synergizing our energy infrastructure and car solution infrastructure.”
Mitsui Chemical is a visionary innovator and has deep relationships within the global automotive industry. Its business portfolio includes Life＆Healthcare Solutions, Mobility Solutions, ICT Solutions, and Basic & Green Materials. Mr. Atsushi Komoriya, Managing Executive Officer, Mitsui Chemicals, Inc. had this to say about their investment in Glydways,
“Reducing CO2 emissions is a social issue on a global scale, and resolving traffic congestion is a major issue in the mobility field. Glydways’ efforts are a new solution that can not only answer these major problems, but also greatly contribute to people’s lives.
Mitsui Chemicals’ vision for the future: A recycling-oriented society in harmony with the environment, an inclusive society that creates diverse value, and a comfortable society where people can live in good health and peace of mind. We aim to be an indispensable presence for the realization of a world with these values. We would like to harness the collective strength of the Mitsui Chemicals Group to realize this together in collaboration with Glydways.”
The investments from Suzuki, ENEOS and Mitsui Chemical add to the momentum Glydways has achieved over the past year, which includes investments from Khosla Ventures, New Science Ventures, ACS Group, Gates Frontier, and Sam Altman’s Apollo Projects, and the awarding of two significant projects– a 4.4-mile airport connector in San José, CA and a 28-mile system connecting four underserved communities in East Contra Costa County.
Welcome Suzuki, ENEOS and Mitsui Chemical to the Glydways family!!
Our Founder Mark Seeger spoke to Bloomberg News about our recent announcement of new investments from Sam Altman, Gates Frontier, Suzuki Motor Corporation, ENEOS , and Mitsui Chemicals Group. Bloomberg was very interested in our talks with Suzuki about becoming our global vehicle manufacturer and our plans for Asia-pacific expansion, centered from our Tokyo office.
