The CEO of AXP, Max Kane, spoke on the inaccuracies that are commonly seen in the used car industry, “There’s a million vehicles on the road that have ‘washed’ titles, which means there is fraud there. The insurance industry is hit with billions in fraud because of missing information, drivers providing the wrong information and inaccurate reporting.”
Its decision to look for a buyer comes as a surprise. Although it’s certainly not a major player in the burgeoning autonomous vehicle market, at least by valuation, Drive.ai is a fairly well-known company.
Zum is a mobile app that enables parents to schedule rides for their kids from fully vetted drivers. It also partners with school districts to support their transportation needs. To date, the company has partnered with 150 school districts across the country and transported more than 500,000 students.
The first step in the partnership, according to a recent announcement, is to integrate Fusion’s blockchain platform and digitize AXP’s current database of 10.5 million automobiles, so they can be properly tracked and audited.
“Georgia is a special place for us because it’s where we sold our very first car, in Atlanta, in 2013,” said Ernie Garcia, founder and CEO of Carvana. “Being able to return to the state where it all started, for market No. 100 just six years later, is incredible."