NEW HIGH-TECH AUTOMOTIVE DEVELOPMENT CENTER OPENS IN ISRAEL POWER by Drive’s Test Track and R&D Center Will Further Growth of Tech Startups

A new mobility proving ground and development center is opening this year in
Israel to accelerate the growth of startup companies working on
smart-mobility and other next-generation automotive technologies.

Founded by Drive TLV, POWER by Drive includes a 20,000-square-foot proving
ground and a headquarters facility with meeting rooms, offices and
laboratories for use by high-tech startups and interested corporate
partners.

The center officially opened in June for testing, technology validation and
collaboration by startups and corporate partners including Honda, Volvo
Cars, Volvo Group, DENSO, NEC Corporation, Novelis, Cox Automotive, Hertz,
Ituran, Next Gear Ventures and Israel’s Mayer Cars and Trucks Group. It is
located in suburban Tel Aviv.

Eyal Rabin, POWER’s manager, notes that the test track can be set up with
traffic lights, roundabouts, street signs and other features to simulate a
wide variety of traffic situations. The secure geo-fenced facility
guarantees user privacy and protects the confidential nature of technology
under development.

Engineers from the Mayer Cars and Trucks Group will support test and
development programs taking place at the POWER center.

“POWER by Drive is a logical next step in the commercialization process that
includes our FastLane program,” says Dr.Tal Cohen, Drive TLV’s co-founder.

FastLane is a unique program designed to match high-tech startups with major
corporate players in the mobility market. Startups that have participated in
the program have raised a total of more than $1 billion in the past four
years.

Technologies under development at Drive include different levels of
automated driving and ADAS (Advanced Driver Assistance Systems),
connectivity software, automated vehicle-inspection systems, a variety of
vehicle electrification projects and smart-city applications.

To further accelerate the commercialization of new technologies at POWER
some of its corporate partners plan to establish offices at the new
development center as well. With POWER in their backyard, travel also will
not be an issue for Israeli technology firms wanting to test, validate and
quickly demonstrate their innovations for prospective partners.

“Startups with exceptional mobility products often need help to
commercialize their technology,” Cohen explains. “That’s where Drive TLV and
its partners can assist with guidance and collaboration consulting.

“People don’t understand how much goes into onboarding and commercializing
new technology. In our world, corporations and startups are like elephants
and mice. They are two different animals with two different heartbeats that
need to learn how to dance together.”

He points out that POWER is designed to bring corporations and technology
startups closer together in order to build the trust and understanding vital
to any long-term business relationship.
“POWER helps ‘de-risk’ the initial stages of collaboration and
significantly increases the likelihood of success,” Cohen concludes. “Both
sides, the startups and their corporate mobility partners, can benefit from
the process.

“Startups want to showcase their technology, while major corporations want
the process to go quickly and smoothly. POWER provides the platform to help
startups understand the ecosystem in which they will be working, while
helping their new corporate partners learn how to best utilize the mobility
innovations under development.”

About Drive TLV
Drive TLV is a unique innovation hub focused on smart mobility. It leverages
an in-depth knowledge of Israel’s high-tech ecosystem to handpick the most
promising smart mobility startups and enhance their businesses with
strategic guidance. It also forms and maintains strong global partnerships
with industry-leading mobility enterprises, then promotes commercialization
between its startups and industry partners.

In addition to Honda, Volvo Cars, Volvo Group and the Mayer Group, Drive’s
industry partners include DENSO, NEC Corporation, Novelis, Cox Automotive,
Hertz, Ituran and Next Gear Ventures.
More information about Drive TLV is available at www.drivetlv.com .