Local Motors Welcomes New President as it Scales Mobility Solutions Worldwide

PHOENIX, Aug. 15, 2019 (GLOBE NEWSWIRE) — Local Motors, subsidiary of LM Industries Inc., the world’s first digital manufacturer with a focus on mobility products, today announced Vikrant Aggarwal as company president. He brings with him more than 20 years of automotive and industrial experience, managing and growing successful global businesses. His expertise will be critical in achieving the company’s worldwide expansion and customer-focused goals. Prior to Local Motors, Aggarwal was the executive director of digital accelerator at Cummins Inc., a Fortune 500 corporation that designs, manufactures, and distributes engines, filtration, and power generation products. “Local Motors by LMI is a burgeoning industry leader, scaling the deployment of mobility products across international markets. I am excited to be joining at this critical moment as Olli 2.0, the next generation of connected, bespoke mobility goes into production,” said Vikrant Aggarwal. “I firmly believe in the company’s unique approach and business model and look forward to bringing Olli to roads near and far.” Aggarwal previously led a mobility-focused team at the Innovation Incubator at Cummins, Inc. developing new cutting-edge technology for powertrains and mobility solutions products. During his two-decade career, Vikrant Aggarwal successfully led Cummins and its global customers in the filtration, power generator and mobility industries and became a master of process development and implementation with the honor of being a Six Sigma Black Belt in Logistics and a winner of the Chairman’s Quality Award. While at Cummins, Aggarwal also distinguished himself in leading diversity and inclusion by, among other things, championing girls in STEM as part of Cummins deep community engagement strategy. The market for mobility solutions is massive. Local Motors’ flagship product, Olli, an autonomous, connected, and electric shuttle, is being deployed worldwide through direct sales and via Olli Fleet Challenges. Aggarwal’s extensive global experience – both living in and working with companies around the world – will help accelerate Local Motors’ expansion as it scales in markets across the globe. “LM Industries is bringing automotive manufacturing out of the dark ages,” said LM Industries chief executive officer and co-founder, John B. Rogers, Jr. “Vikrant joins our executive team at this pivotal moment, bringing his experience to strengthen our efforts of increasing the efficiency of internal processes, building our customer base, enhancing ongoing relationships, and helping to lead the company, and our industry as a whole, to a brighter future.” About Local Motors Local Motors by LM Industries, Inc. is a ground mobility company focused on shaping the future for the better. Founded in 2007 with a belief in open collaboration and co-creation, Local Motors began low volume vehicle manufacturing of open-source designs using multiple microfactories. Since inception, Local Motors has debuted no less than three world firsts; the world’s first co-created vehicle, the world’s first 3D-printed car and the world’s first co-created, self-driving, electric vehicle, Olli. We believe that Olli is the answer to a sustainable, accessible transportation solution for all. Media Contact LaunchSquad for LM Industries 415.625.8555lmi@launchsquad.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/83bd2e4a-5050-4e5d-8bdf-38eeaac7f872