Partnership increases dealer inventory options
and borrowing power
BURLINGTON, Vt., Jan. 5, 2022 /PRNewswire/ - E Automotive
Inc. d/b/a E INC (TSX: EINC) (the "Company" or "E INC") and EBlock,
the leading digital automotive auction marketplace and a sub-brand
of E INC, today announced a key partnership with Kinetic Advantage,
an industry leader in floorplan technology. The agreement
integrates Kinetic Advantage into the EBlock checkout.
The scarcity of automobiles is causing dealers to search for new
sources to replenish their inventory. A partnership with EBlock, a
well-established fully digital marketplace in Canada and a new player in the U.S
marketplace, opens up those sourcing opportunities for Kinetic
customers. Kinetic, a strong player in the U.S. floorplan
marketplace, becomes a strong source of buying power for EBlock
U.S. customers.
"This partnership is a win for our customers in the U.S. Kinetic
is a strong floorplan and capital funding source which increases
the capabilities of our customers to source the much-needed
inventory they seek," said Jason
McClenahan, President, and CEO of E INC.
"Kinetic is very pleased to partner with EBlock as a source for
inventory to our independent dealers in the U.S. EBlock has a
proven track record in Canada and
is experiencing exceptionally strong growth in the U.S. Coupled
with Kinetic's fast growth and best-in-class service I expect our
dealers will greatly benefit from this new partnership," said
Marty McFarland, President and CEO
of Kinetic Advantage.
EBlock is a brand of parent company E INC. EBlock's online
auction empowers dealers, wholesalers, and independent auctions to
buy and sell inventory in less time and in a real-time virtual
auction that creates the sense of urgency and energy found in a
live auction.
Kinetic Advantage is a dynamic floorplan company led by trusted
industry veterans. Its core focus is helping its independent dealer
partners and team members succeed while providing them with an
exceptional and engaging user experience. Kinetic is committed to
forging strong partnerships through transparent communication and
simple, innovative solutions. Kinetic provides its partners and
team members with the support and tools they need to grow
throughout their journey.
About E INC.
E INC's mission is to optimize the
online vehicle buying, selling, and management experience for
automotive dealers and consumers. E INC has a digital platform (the
"Platform") that provides automotive dealerships with access to an
online wholesale auction marketplace where they can purchase or
sell vehicles to other dealers, as well as access innovative
software solutions to support dealers' digital retailing and
inventory management. Access to E INC's Platform is complemented by
ancillary service offerings to assist dealers with supplementary
auction-related needs, along with driving consumer traffic to their
digital properties and optimizing other business processes. E INC's
digital wholesale marketplace goes to market under the brand
EBlock, and E INC's digital suite of retail products goes to market
under the brand EDealer.
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SOURCE E Automotive Inc.
