ExxonMobil Invests in On-Demand Vehicle Care Startup

ExxonMobil has invested into Yoshi Inc., a Silicon Valley startup offering on-demand fuel delivery and vehicle care service.

As a leading strategic investor in what appears to be a classic forward integration play,  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, the company notes, “will allow ExxonMobil to shape a new channel in the market for its products.”

Here’s what’s at play: 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.

Category: General Update, News