CHICAGO, Dec. 10, 2020 /PRNewswire/ — United Airlines today is taking its most ambitious step yet in leading the fight against climate change: pledging to become 100% green by reducing its greenhouse gas (GHG) emissions by 100% by 2050. United, which in 2018 became the first U.S. airline to commit to reducing its GHG emissions by 50% by 2050, will advance towards carbon neutrality by committing to a multimillion-dollar investment in revolutionary atmospheric carbon capture technology known as Direct Air Capture  – rather than indirect measures like carbon-offsetting – in addition to continuing to invest in the development and use of sustainable aviation fuel (SAF). With this unprecedented announcement, United becomes the first airline in the world to announce a commitment to invest in Direct Air Capture technology.

«As the leader of one of the world’s largest airlines, I recognize our responsibility in contributing to fight climate change, as well as our responsibility to solve it,» said Scott Kirby, United’s chief executive officer. «These game-changing technologies will significantly reduce our emissions, and measurably reduce the speed of climate change – because buying carbon offsets alone is just not enough. Perhaps most importantly, we’re not just doing it to meet our own sustainability goal; we’re doing it to drive the positive change our entire industry requires so that every airline can eventually join us and do the same.»

Investment in Direct Air Capture Technology

Rather than simply taking a conventional approach to decarbonization by relying solely on the purchase of carbon offsets, United intends to make a multimillion-dollar investment in 1PointFive, Inc., a partnership between Oxy Low Carbon Ventures, a subsidiary of Occidental (NYSE:OXY), and Rusheen Capital Management. 1PointFive’s mission is to curb the rise in global temperatures by physically removing carbon dioxide (CO₂) from the air using Direct Air Capture technology licensed from Carbon Engineering.

Direct Air Capture technology is one of the few proven ways to physically correct for aircraft emissions, and can scale to capture millions and potentially billions of metric tons of CO₂ per year. The captured CO₂ will then be permanently, safely and securely stored deep underground by Occidental, a process certified by independent third parties. The commitment – the first to be announced in the aviation industry – will help 1PointFive build the first industrial-sized Direct Air Capture plant in the United States. A single plant is expected to capture and permanently sequester one million tons of CO₂ each year, the equivalent of the work of 40 million trees, but covering a land area about 3,000 times smaller.

Investments in Sustainable Aviation Fuel

With up to 80% less lifecycle carbon emissions than conventional jet fuel, sustainable aviation fuel is the fastest and most effective way United is reducing its emissions. Among all airlines globally, United holds more than 50% of all publicly announced future purchase commitments to using SAF and has the longest history of using SAF of any U.S. airline. Last year, United renewed its contract with Boston-based World Energy, agreeing to purchase up to 10 million gallons of cost-competitive SAF. United has used this SAF to help sustainably power every flight departing its Los Angeles hub since 2016.

Additionally, United has invested more than $30 million in California-based sustainable fuel producer Fulcrum BioEnergy, which remains the single largest investment by any airline globally in a sustainable fuel producer.

Since 2016, United has used the most SAF of any airline globally and has flown:

• 26 million passengers on flights powered with a SAF blend
• 44 billion passenger-miles on flights powered with a SAF blend
• 215,000 flights powered with a SAF blend

United’s Commitment to the Environment

United’s commitment to becoming carbon-neutral by 2050 represents yet another leadership position the airline has taken to reduce its impact on the environment. United’s significant environmental achievements include:

• Becoming the first airline globally to incorporate SAF in regular operations on a continuous basis, marking a significant milestone in the industry by moving beyond test programs and demonstrations to the everyday use of low-carbon fuel in ongoing operations
• In 2019, we committed $40 million toward an investment initiative focused on accelerating the development of SAF and other decarbonization technologies
• Operating the Flight for the Planet in 2019, which represented the most-eco-friendly commercial flight of its kind in the history of commercial aviation
• Becoming the first airline to fly with Boeing’s Split Scimitar winglets, which reduce fuel consumption by an additional 2% versus standard winglets; United is the largest Scimitar winglet operator today, with nearly 400 aircraft equipped with these winglets
• Becoming the first U.S. airline to repurpose items from the carrier’s international premium cabin amenity kits and partnering with Clean the World to donate hygiene products to those in critical need
• Eliminating non-recyclable plastic stirring sticks and cocktail picks on aircraft and replacing them with a more environmentally friendly product made of 100% bamboo
• Continuing to replace its eligible ground equipment with cleaner, electrically powered alternatives, with nearly 45% of the fleet converted to date

United’s Award-Winning Eco-Skies Program

United’s award-winning Eco-Skies program represents the company’s commitment to the environment and the actions taken every day to create a more sustainable future. Earlier this month, the Carbon Disclosure Project named United as the only airline globally to its 2020 ‘A List’ for the airline’s actions to cut emissions, mitigate climate risks and develop the low-carbon economy, marking the seventh consecutive year that United had the highest CDP score among U.S. airlines.

In 2017, Air Transport World magazine named United its Eco-Airline of the Year for the second time since the airline launched the Eco-Skies program. Additionally, United ranked No. 1 among global carriers in Newsweek‘s 2017 Global 500 Green Rankings, one of the most recognized environmental performance assessments of the world’s largest publicly traded companies.

For more information on United’s commitment to environmental sustainability, visit united.com/ecoskies.

About United

United’s shared purpose is «Connecting People. Uniting the World.» For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United’s parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol «UAL».

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Certain statements in this release are forward-looking and thus reflect our current expectations and beliefs with respect to certain current and future events. Such forward-looking statements are and will be subject to many risks and uncertainties relating to our operations and business environment that may cause actual results to differ materially from any future results expressed or implied in such forward-looking statements. Words such as «expects,» «will,» «plans,» «anticipates,» «indicates,» «remains,» «believes,» «estimates» and similar expressions are intended to identify forward-looking statements. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed or assured. All forward-looking statements in this release are based upon information available to us on the date of this release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as required by applicable law. Our actual results could differ materially from these forward-looking statements due to numerous factors including, without limitation, the risks and uncertainties set forth under Part I, Item 1A., «Risk Factors,» of our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as updated by our Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, as well as other risks and uncertainties set forth from time to time in the reports we file with the U.S. Securities and Exchange Commission.

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SOURCE United Airlines

SAN DIEGO, Dec. 10, 2020 /PRNewswire/ — Nuvve Corporation, a San Diego-based, green energy technology company and a leader in vehicle-to-grid (V2G) technology, has begun using the batteries on five electric school buses (e-buses) to provide power to Con Edison’s grid, marking the first time in New York State history that electricity has flowed from buses into a utility’s grid.

The e-buses are from Lion Electric, a North American leader in heavy-duty zero emission transportation with which Nuvve recently announced a collaboration to provide V2G-enabled school buses. By day, these e-buses carry students to schools in the White Plains area, displacing their diesel-powered counterparts. E-buses have shown to provide a cleaner ride for kids and, with lower CO2 emissions, can help better the air quality in the Westchester County community.

The project began in 2018 as a partnership among Lion, Nuvve, White Plains School District, National Express and First Priority Group with 5 electric school buses. The charging and discharging takes place at a depot in North White Plains. When plugged in, Nuvve’s V2G platform determines the optimal time to charge according to when rates are lowest. On nights and weekends, when the buses are parked and not in use, the system reverses the flow of power – 10 kilowatts from each bus – into the grid.

The goal of the project is to explore the technological and economic potential of using e-buses on a wider scale to improve air quality and grid reliability. There are approximately 1,000 school buses operating in Westchester and 8,000 in New York City that could make a significant difference to the environment if converted to electric with V2G capability.

«We think electric school buses may provide an opportunity to achieve two of our company’s goals: reducing carbon emissions and maintaining our industry-leading reliability» said Brian Ross, Con Edison’s manager for the project. «We are innovating to help our state and region achieve a clean energy future in which electric vehicles will have a big role.»

The White Plains school district put the buses on the road for the 2018-2019 school year and has found them to be a reliable source of transportation to date. Nuvve’s V2G software platform ensures that the energy delivered to the buses is prioritized to perform their daily driving routes while still delivering grid services when needed.

The upfront cost of e-buses is higher than traditional diesel ones. However, V2G enables the e-buses to discharge energy back to the grid and perform grid services, both of which can result in shared revenue and can help lower the total cost of ownership. These savings help make e-buses more attractive to school districts, the communities they serve, and the bus operators that provide the service.

«Our V2G software platform is designed to deliver grid services such as those to Con Edison from electric school buses», said Gregory Poilasne, chairman and CEO of Nuvve Corporation. «The electric buses provide a cleaner environment for communities and help lower CO2 emissions while ensuring that driving energy needs are met every day.»

School schedules match up well with the power needs of Con Edison’s 3.5 million customers. School buses are generally idle during the summer, which is when utility customers’ need for power rises due to an increased use of air conditioning. Discharging power from a sufficient number of electric buses into the grid at these times of high demand would take stress off Con Edison electric-distribution equipment and increase grid resilience.

Nuvve is building alliances with both utilities and school bus manufacturers to enable a national roll out of V2G-enabled school buses, which Nuvve believes will eventually replace diesel buses at a competitive cost. Nuvve’s proprietary energy aggregator platform, called GIVe™, has been used around the world to transform electric vehicles into distributed energy resources (DERs) that can be controlled to deliver specific energy services to the grid.

Nuvve announced recently a definitive merger agreement with Newborn Acquisition Corp. (Nasdaq: NBAC), which will result in Nuvve becoming a listed public company at closing.

About Nuvve Corporation
Nuvve Corporation is a San Diego-based green energy technology company whose mission is to lower the cost of electric vehicle ownership while supporting the integration of renewable energy sources, including solar and wind. Our proprietary vehicle-to-grid (V2G) technology – Nuvve’s Grid Integrated Vehicle (GIVe™) platform – is refueling the next generation of electric vehicle fleets through cutting-edge, bidirectional charging solutions. Since its founding in 2010, Nuvve has been responsible for successful V2G projects on five continents and is deploying commercial services worldwide. For more information please visit www.nuvve.com or follow us on LinkedIn and Twitter.

Nuvve Press Contact
Marc Trahand, EVP Marketing
marc@nuvve.com
+1 858 250 9740

Nuvve Investor Contact
Lytham Partners
Robert Blum
nuvve@lythampartners.com
+1 602 889 9700

About Newborn Acquisition Corp.

Newborn Acquisition Corp. is a blank check company, holding approximately $57.5 million in its trust account, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Important Information and Where to Find it

In connection with the proposed business combination, Nuvve Holdings, as the successor to Newborn, will file a registration statement on Form S-4 (the «Form S-4») with the SEC. The Form S-4 will include a preliminary proxy statement/prospectus of Newborn and Nuvve Holdings, which Newborn will file with the SEC as a proxy statement on Schedule 14A, for the solicitation of proxies from Newborn’s shareholders and for the offering of Nuvve Holdings’ securities to the security holders of Newborn and Nuvve in the business combination. Additionally, Newborn and Nuvve Holdings will file other relevant materials with the SEC in connection with the business combination. Copies may be obtained free of charge at the SEC’s web site at www.sec.gov. The definitive proxy statement/prospectus will be mailed to Newborn shareholders as of a record date to be established for voting on the proposed business combination. Investors and security holders of Newborn are urged to read the proxy statement/prospectus and the other relevant materials when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.

Participants in the Solicitation

Newborn and its directors and officers may be deemed participants in the solicitation of proxies of Newborn’s shareholders in connection with the proposed business combination. Nuvve and its officers and directors may also be deemed participants in such solicitation. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Newborn’s executive officers and directors in the solicitation by reading Newborn’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of Newborn’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval.

Forward Looking Statements

The information in this press release includes «forward-looking statements» within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this presentation, regarding the proposed business combination between Newborn and Nuvve and Nuvve’s strategy, future operations, estimated and projected financial performance, prospects, plans and objectives are forward-looking statements. When used in this press release, the words «could,» «should,» «will,» «may,» «believe,» «anticipate,» «intend,» «estimate,» «expect,» «project,» the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Newborn and Nuvve disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Newborn and Nuvve caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of either Newborn or Nuvve. In addition, Newborn cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against Newborn or Nuvve following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the shareholders of Newborn, or other conditions to closing in the merger agreement; (iv) the risk that the proposed business combination disrupts Nuvve’s current plans and operations as a result of the announcement of the transactions; (v) Nuvve’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Nuvve to grow and manage growth profitably following the business combination; (vi) costs related to the business combination; (vii) risks related to the rollout of Nuvve’s business and the timing of expected business milestones; (viii) Nuvve’s dependence on widespread acceptance and adoption of electric vehicles and increased installation of charging stations; (ix) Nuvve’s ability to maintain effective internal controls over financial reporting, including the remediation of identified material weaknesses in internal control over financial reporting relating to segregation of duties with respect to, and access controls to, its financial record keeping system, and Nuvve’s accounting staffing levels; (x) Nuvve’s current dependence on sales of charging stations for most of its revenues; (xi) overall demand for electric vehicle charging and the potential for reduced demand if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of electric vehicles or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; (xii) potential adverse effects on Nuvve’s revenue and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by Nuvve; (xiii) the effects of competition on Nuvve’s future business; (xiv) risks related to Nuvve’s dependence on its intellectual property and the risk that Nuvve’s technology could have undetected defects or errors; (xv) changes in applicable laws or regulations; (xvi) the COVID-19 pandemic and its effect directly on Nuvve and the economy generally; (xvii) risks related to disruption of management time from ongoing business operations due to the proposed business combination; (xvii) risks relating to privacy and data protection laws, privacy or data breaches, or the loss of data; and (xix) the possibility that Nuvve may be adversely affected by other economic, business, and/or competitive factors. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that Newborn has filed and will file from time to time with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019. Newborn’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

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SOURCE Nuvve Corporation

IRVINE, Calif., Dec. 10, 2020 /PRNewswire/ — The Mazda MX-5 Miata remains as one of the most engaging roadsters on the road. Standing the test of time, the MX-5 Miata has continued to delight enthusiasts for over three decades. Its charismatic driving dynamics are never compromised, even while evolving with new features and options that help make this thrilling weekend car just as enjoyable every other day of the week. New for 2021, available wireless Apple CarPlay^TM and new color options are offered on the iconic roadster. Mazda North American Operations (MNAO) today announces the 2021 MX-5 Mata be available in dealerships as early as this month.

Known for its 50/50 weight distribution, the Miata is a well-balanced vehicle to drive on just about any road. The Miata offers an outstanding power-to-weight ratio with its lightweight physique, weighing under 2,500 lbs., and standard Skyactiv-G 2.0-liter engine. This efficient engine is capable of producing 181 horsepower at 7,000 rpm and 151 lb-ft of torque at 4,000 rpm. The powertrain can be configured with a Skyactiv-MT six-speed manual transmission or six-speed automatic transmission with paddle shifters.

The MX-5 Sport is a beautifully engineered roadster equipped with several lightweight components that help deliver its iconic handling, dynamics and pure driving feel when the rubber hits the road. For 2021, MX-5 Sport comes standard with Apple CarPlay^TM and Android Auto^TM to help provide seamless smartphone integration. Other conveniences inside include Mazda Connect^TM infotainment system with a seven-inch full-color touchscreen display, AM/FM six-speaker audio system including driver’s side headrest speakers, HD Radio^TM, Bluetooth hands-free phone and audio, tilt and telescoping steering wheel, rearview camera, removable dual cup holders, leather three-spoke steering wheel, shift knob and parking brake, Mazda Advanced keyless entry, dual USB audio inputs, push-button start, power locks and power windows with one-touch down feature. The sharp, athletic design is supported by a black cloth soft top, 16-inch Metallic Black aluminum alloy wheels, silver dual exhaust outlets, and LED headlights and taillights. Standard i-Activsense safety features include Blind Spot Monitoring with Rear Cross-Traffic Alert, Smart City Brake Support and Lane Departure Warning System.

Building on the features of the MX-5 Sport, fans have the option of choosing the MX-5 that suits their lifestyle and interests best with the harder-edged MX-5 Club or the luxurious MX-5 Grand Touring. All trim levels are offered in a soft top, but the RF – retractable fastback – is exclusive to the MX-5 Club and MX-5 Grand Touring. The MX-5 RF can open or close its roof in a remarkable 13 seconds; providing the look and feel of both a sporty coupe and an iconic convertible. When equipped with the Skyactiv-MT manual transmission, both the MX-5 Club and MX-5 Grand Touring include a limited-slip differential, Bilstein dampers, front shock tower brace and sport-tuned suspension.

The MX-5 Club enhances the driving experience with a Bose® nine-speaker audio system that includes passenger headrest speakers, SiriusXM® radio with three-month trial subscription and LED daytime running lights. To support the feeling of spirited driving, this trim is equipped with heated black cloth-trimmed seats with silver stitching, 17-inch Metallic Black aluminum alloy wheels, front black air dam, black rear lip spoiler and black interior accents and vinyl leather to help instill a sporty environment.

Exclusive to MX-5 Club models with manual transmission, Mazda offers a Brembo/BBS/Recaro Package that helps add a little more thrill to the nimble roadster. This package features Brembo front brakes, BBS 17-inch Dark Gunmetal forged wheels, heated Recaro Sports Seats, red painted rear brake calipers and black aero kit that includes side sill extensions and rear bumper skirt. For the MX-5 Club RF, this package includes a hand-painted black roof.

The 2021 MX-5 Grand Touring features more premium and convenient features that one would find in the MX-5 Club. Deep Crystal Blue is a new exterior paint option and White Nappa leather is a new interior color option. New wireless Apple CarPlay^TM joins features such as SiriusXM® with three-month trial subscription, SiriusXM® three-year traffic and travel link subscription, heated leather-trimmed seats with silver stitching, Mazda navigation system, heated side mirrors, automatic climate control, rain-sensing windshield wipers, automatic on/off headlights, auto-dimming driver-side mirror, auto-dimming rearview mirror with Homelink®, 17-inch Dark Silver aluminum alloy wheels and bright silver interior accents. Traffic Sign Recognition, Adaptive Front-lighting System and High Beam Control are additional safety features at this trim level.

MSRP² FOR THE 2021 MX-5 MIATA IS AS FOLLOWS:

OPTIONS:

PREMIUM PAINT COLORS:

Mazda North American Operations is headquartered in Irvine, California, and oversees the sales, marketing, parts and customer service support of Mazda vehicles in the United States and Mexico through approximately 620 dealers. Operations in Mexico are managed by Mazda Motor de Mexico in Mexico City. For more information on Mazda vehicles, including photography and B-roll, please visit the online Mazda media center at InsideMazda.MazdaUSA.com/Newsroom.

Follow MNAO’s social media channels through Twitter and Instagram at @MazdaUSA and Facebook at Facebook.com/MazdaUSA.

¹ MSRP does not include $945 for destination and handling ($990 in Alaska), taxes, title or additional fees. Dealers set actual sale prices.
² MSRP does not include $945 for destination and handling ($990 in Alaska), taxes, title or additional fees. Dealers set actual sale prices.

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SOURCE Mazda North American Operations

SAN ANTONIO, Dec. 10, 2020 /PRNewswire/ — Xavier Sanchez has already exceeded so many expectations in his 21 years of life. Diagnosed with Proximal Femoral Focal Deficiency and Bilateral Fibular Hemimelia (a birth defect in which some limbs such as the femur, fibula, and others are shorter or missing), Xavier has had to rely on his family and friends to take care of him most of his life. Despite these challenges, he is in his final year at UTSA where he is pursuing a Bachelor of Business Administration in Cyber security; a feat made more impressive by the fact that he must travel 2 hours each way by bus to reach school. What Xavier, like every young man his age wants most though is to be able to drive, and the independence that affords. Having been told that he’d need $100K at a minimum for the vehicle and modifications necessary to make that a reality, Xavier had all but given up hope for the time being until a chance meeting turned his dream into reality. Cameron Davies, CEO of the world’s largest mobile asset manufacturer, Cruising Kitchens, was so taken with not only Xavier’s story, but his surprisingly positive attitude, that he assembled his incredible design and fabricating team to customize a van for Xavier that any young man would be proud to drive and donated the whole thing to him. Xavier also landed a job within Cameron’s Print It business giving him financial independence to go along with his mobility.

The normal tasks like going to the grocery store or a friend’s house that most people take for granted, are some of the things Xavier is looking forward to the most. «I think for most people they’ll think oh it’s just a car right, but it’s much more than that. It’s like freedom, it’s opportunities, it’s experiences that I haven’t experienced yet, but with this new vehicle I’ll be able to do so. Most importantly, I’m going to be able to take my wheelchair, because my wheelchair is like an extension of myself. It’s like my legs for me,» Xavier emphasizes. «I was tired of hearing the stories of him being told no, so I knew that we had to jump in the action, and step up in a big way,» Cameron stated. He added, «I say every Monday that attitudes are contagious, and he has the best that I’ve ever seen. During the process of working with him on the van design, I fell in love with him as a person and that is why I decided to give him the job.»

Behind every great man is a great woman and Xavier’s mother Nora has been his biggest supporter from the beginning. «This experience has been amazing to say the least, and it played right into how we have experienced life. When I was pregnant with Xavier I was told he would not live, and he did.» She reveals. «Then it was, he would not walk, and he did, and also that driving was not possible for him, and he is now driving on his own! It is the most incredible feeling to have so many caring strangers be part of my child’s life journey and I am forever grateful…My son deserves this, and I will support him in all of his dreams and adventures!» 

Xavier has his driving test scheduled for the 16^th of this month and he couldn’t be more excited. Until then, he’s happy just to be able to do donuts in the parking lot of his new place of employment. A whole new world is about to open up for this young man and he is ready to take on whatever comes next.

See this inspiring story unfold on the new episode of Built for Business airing this Thursday 6:30p/5:30p CT on Motor Trend TV. Check your local listings.   

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SOURCE Cruising Kitchens

Industry experts present future trends such as used cars, digital retail, connected car IoT platforms, and fuel cell electric vehicles

SANTA CLARA, Calif., Dec. 10, 2020 /PRNewswire/ — The automotive industry, which witnessed weak global sales in 2019, was dealt a body blow in the form of the COVID-19 pandemic in 2020. The resulting lockdowns across all major economies resulted in global sales plummeting in the first half of the year. However, key markets such as China, India, and Europe have shown signs of a recovery as lockdowns ease and economies sputter back to life.

Sales in China and India have been driven by compact small cars sought by first-time buyers, many of whom remain apprehensive about public transportation and ridesharing services. In Europe, the success of incentive programs in countries such as Germany has contributed to positive numbers, while in the United States, the automotive market has witnessed a revival in the third quarter boosted by demand for SUVs and pickup trucks.

To help companies identify new avenues for top-line growth and plan for a more fruitful 2021, Frost & Sullivan’s team of industry experts have compiled a complimentary insight: Top 10 Growth Opportunities in Mobility for 2021 – What You Need to Know Now.

To download the complimentary insight, please visit: http://frost.ly/4zs

Gain insight into exciting new growth opportunities, strategic recommendations, best practices, and future developments in areas such as:

1. Used car market
2. Digital retail
3. Connected car IoT platforms
4. Subscription services
5. Car as a point of health
6. EV platform architecture strategies
7. Fuel cell electric vehicles (FCEVs)

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion

Contact:
Francesca Valente
Global Corporate Communications
E: Francesca.Valente@frost.com 
http://ww2.frost.com

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SOURCE Frost & Sullivan

DUBLIN, Dec. 10, 2020 /PRNewswire/ — The «Online Travel Agent Global Market Opportunities and Strategies to 2030: COVID-19 Growth and Change» report has been added to ResearchAndMarkets.com’s offering.

The global online travel agent market reached a value of nearly $744.7 billion in 2019, having increased at a compound annual growth rate (CAGR) of 7.9% since 2015. The market declined from $744.7 billion in 2019 to $595.8 billion in 2020 at a rate of -20.0%.

This report describes and evaluates the global online travel agent market. It covers 2015 to 2019, termed the historic period, 2019 through 2023, the forecast period, 2023-2025 forecast period, and 2025-2030 the forecast period.

The decrease is mainly due to COVID-19 pandemic across all countries in the world as most countries went into lockdown with severe travel restrictions. Subsequently, industries such as airlines, railways, hospitality, and tourism all suffered major setbacks. The market is expected to grow at a CAGR of 14.8% from 2021 and reach $902.2 billion in 2023.

Growth in the historic period resulted from strong economic growth in emerging markets, rapid population growth, demographic shift, improved earning capacity, acceptance of solo travel and technological advances. Factors that negatively affected growth in the historic period were skilled workforce shortages and high taxes on air travel.

Going forward, shift in travel trends, resurgence of staycation, faster economic growth, surge in smartphone users, and government initiatives will drive the market for online travel agent. Factors that could hinder the growth of the online travel agent market in the future include geopolitical tensions, government regulations, and coronavirus pandemic.

The online travel agent market is segmented by service type into vacation packages; transportation and accommodation. The travel market was the largest segment of the online travel agent market segmented by service type, accounting for 39.8% of the total in 2019 and going forward is expected to be the fastest growing segment in the online travel agent market, at a CAGR of 7.2%.

The online travel agent market is also segmented by platform into mobile/tablet based; and desktop based. The desktop-based segment was the largest segment of the online travel agent market segmented by platform, accounting for 85.2% of the total in 2019. Going forward, mobile/tablet-based segment is expected to be the fastest growing segment in the online travel agent market, at a CAGR of 11.3%.

The coronavirus pandemic of 2020 caused many economic implications in countries all over the world. The closure of all nonessential businesses and strict quarantine measures taken by governments created a halt in worldwide operations. One of the most significant impacts of the virus was seen on the travel and tourism industry, as most countries went into lockdown with severe travel restrictions inhibiting people from moving about.

Subsequently, industries such as airlines, railways, hospitality, and tourism all suffered major setbacks. The online travel agents’ market was also severely hit by the pandemic. According to an article by Skift Research, the largest seven public online travel agencies will lose at least $11.5 billion in revenue this year due to the virus. The impact could reach even higher, potentially as much as $20 billion in missed revenue.

Asia Pacific was the largest region in the global online travel agent market, accounting for 31.3% of the total in 2019. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the online travel agent market will be Asia-Pacific, and Africa, where growth will be at CAGRs of 6.9% and 5.4% respectively. These will be followed by Middle East, and North America, where the markets are expected to grow at CAGRs of 4.3% and 4.1% respectively.

The online travel agent market is concentrated, with a small number of large players holding significant market share. Major players in the market include Booking Holdings Inc., Expedia Group Inc., Trip.com Group Limited, Tripadvisor, Inc., Trivago N.V., eDreams Odigeo, Despegar, MakeMyTrip Limited, Webjet Limited, and lastminute.com NV.

The top opportunities in the online travel agent market segmented by service type will arise in the travel market segment, which will gain $95.7 billion of global annual sales by 2023. The top opportunities in the online travel agent market segmented by platform will arise in the desktop-based segment, which will gain $98.3 billion of global annual sales by 2023.The online travel agent market size will gain the most in the USA at $34.2 billion.

Key Topics Covered:

1. Online Travel Agent Market Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction
6.1.1. Segmentation By Geography
6.1.2. Segmentation By Service Type
6.1.3. Segmentation By Platform

7. Online Travel Agent Market Characteristics
7.1. Market Definition
7.2. Market Segmentation By Service Type
7.2.1. Vacation Packages
7.2.2. Travel
7.2.3. Accommodation
7.3. Market Segmentation By Platform
7.3.1. Mobile/Tablet Based
7.3.2. Desktop Based

8. Online Travel Agent Market Trends And Strategies
8.1. Demand From Solo Travelers
8.2. Increasing Customer Acquisition
8.3. Marketing Through Search Engine Optimization
8.4. Improved Customer Experiences Through Chatbots
8.5. Increasing Acquisitions

9. Impact Of COVID-19 On The Online Travel Agent Market
9.1. Background
9.2. OTA Companies’ Reaction To COVID-19
9.2.1. Booking Holdings Inc.
9.2.2. Expedia Group Inc.
9.2.3. Ctrip
9.2.4. eDreams ODIGEO
9.2.5. TripAdvisor Inc.

10. Global Online Travel Agent Market Size And Growth
10.1. Market Size
10.2. Historic Market Growth, 2015 – 2019, Value ($ Billion)
10.2.1. Drivers Of The Market 2015 – 2019
10.2.2. Improved Earning Capacity
10.2.3. Restraints On The Market 2015 – 2019
10.3. Forecast Market Growth, 2019 – 2023, 2025F, 2030F Value ($ Billion)
10.3.1. Drivers Of The Market 2019 – 2023
10.3.2. Restraints On The Market 2019 – 2023

11. Global Online Travel Agent Market Segmentation
11.1. Global Online Travel Agent Market, Segmentation By Service Type, Historic And Forecast, 2015 – 2019, 2023F, 2025F, 2030F, Value ($ Billion)
11.1.1. Travel
11.1.2. Accommodation
11.1.3. Vacation Packages
11.2. Global Online Travel Agent Market, Segmentation By Platform, Historic And Forecast, 2015 – 2019, 2023F, 2025F, 2030F, Value ($ Billion)
11.2.1. Desktop Based
11.2.2. Mobile/Tablets Based

12. Online Travel Agent Market, Regional And Country Analysis
12.1. Global Online Travel Agent Market, By Region, Historic and Forecast, 2015 – 2019, 2023F, 2025F, 2030F, Value ($ Billion)
12.2. Global Online Travel Agent Market, By Country, Historic and Forecast, 2015 – 2019, 2023F, 2025F, 2030F, Value ($ Billion)

Global Online Travel Agent Market Competitive Landscape

• Booking Holdings Inc.
• Expedia Group Inc.
• Trip.com Group Limited
• Trivago N.V.
• Tripadvisor, Inc.
• eDreams Odigeo

Key Mergers And Acquisitions In The Online Travel Agent Market

• Trip.com Group Limited Acquired Travix International
• Despegar Acquired Best Day
• Ebix Acquired Yatra.com
• Airbnb Acquired HotelTonight
• Amex GBT Acquired Hogg Robinson
• Meituan Dianping Acquired Mobike
• MakeMyTrip Acquired ibibo Group
• Flight Centre Acquired Travellink’s Corporate Travel Business
• Expedia Acquired Travelocity

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