RideShare Rental, Inc., formerly YayYo, Inc., announces $2 million extension of ACME Auto Leasing LLC line of credit
YAYYO INC (YAYO)
Company Research
Source: GlobeNewswire
BEVERLY HILLS, Calif., Jan. 21, 2021 (GLOBE NEWSWIRE) -- RideShare Rental, Inc., formerly YayYo, Inc. ("RSR" or the “Company") (Other OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, today announced that ACME Auto Leasing LLC has increased their line of credit to the Company by $2 million. The extension will be used to fund additional passenger vehicles for the rideshare industry, including the purchase of transit high top cargo vans for last -mile logistics. The bulk of the funds will be allocated towards the purchase of electric vehicles (EV) to launch RSR's EV strategy for the rideshare space. Ramy El-Batrawi, Chief Executive Officer of RSR said, "The higher line of credit will help us to ramp up our fleet and continue to rapidly deploy new vehicles as we strategically build out our expansion. Demand for vehicles continues to outpace supply and we’re excited to b
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