LMP AUTOMOTIVE HOLDINGS, INC. ANNOUNCES EXPANSION TO NEW CORPORATE AND TECHNOLOGY HEADQUARTERS BY LEASING PREVIOUS JETSMARTER OFFICE SPACE LOCATED AT 500 EAST BROWARD BLVD., FORT LAUDERDALE, FLORIDA

Turn key, full floor, secure, fully furnished, corporate and data center space equipped with redundant high-speed fiber optic cable to support our e-commerce and technology operations and development; Conveniently located in the prestigious Las Olas area a few blocks from AutoNation’s Headquarters; Full operational deployment this month housing executive, mobile app. and e-commerce support and development, procurement, logistics and fulfillment operations, in addition to M&A, automotive and finance operations.

PLANTATION, FL , Sept. 15, 2020 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company" or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe for or finance pre-owned and new automobiles, today announced its expansion to a new corporate and technology headquarters by leasing jetsmarters previous office space located at 500 East Broward Blvd. in Fort Lauderdale, Florida.

Richard Aldahan, LMP’s Chief Operating Officer stated,

 “This is perfect timing given our recently announced rapid growth and acquisitions. This space provides a cost-effective and seamless expansion to support customer service, quality assurance, logistics and fulfillment, e-commerce, sales and distribution. As we previously announced, we expect to have over 4,000 vehicles exposed and available on our online platform for our customers in 2021 as we begin to integrate and add to inventories shortly after closing our acquisitions that are currently under contract.”

Sam Tawfik, the Company's Chairman and Chief Executive Officer stated,


“This is the most modern technology centric space that we have seen in Fort Lauderdale and, as Richard has stated, “perfect timing” as we intend to launch our mobile subscriptions app. shortly, followed by our mobile sales app. in addition to adding senior management to support LMP’s growth and aggressive acquisition and integration plan.”

ABOUT LMP AUTOMOTIVE HOLDINGS, INC. – “BUY, SUBSCRIBE, SELL AND REPEAT.”
LMP Automotive Holdings, Inc. (NASDAQ: LMPX) describes its business model as “Buy, Subscribe, Sell and Repeat.” This means that we “Buy” pre-owned automobiles primarily through auctions or directly from other automobile dealers, and new automobiles from manufacturers and manufacturer distributors at fleet rates. We “Subscribe” to our customers by allowing them to enter into our subscription plan for automobiles in which customers have use of an automobile. Our subscription plans offer the flexibility to upgrade your vehicle to a more premium model or downgrade for a lesser cost model when you like. We “Sell” our inventory, including automobiles previously included in our subscription programs, to customers as well, and then we “Repeat” the whole process.