Autonomy, the largest electric vehicle subscription company in the US, today placed an order for 23,000 electric vehicles (EVs) with 17 global automakers to expand and diversify its subscription fleet beyond Tesla. The fleet order is valued at $1.2 billion.
The 23,000 order represents 1.2 percent of the projected US electric vehicle production through to the end of 2023. It was designed to fit into the forecast production envelopes of each automaker.
Autonomy’s order was placed with the fleet departments of BMW, Canoo, Fisker, Ford, General Motors, Hyundai, Kia, Lucid, Mercedes-Benz, Polestar, Rivian, Stellantis, which owns 14 brands including Vauxhall, Peugeot, Fiat, Citroën and Jeep, Subaru, Tesla, Toyota, VinFast, Volvo and Volkswagen.
These electric vehicles which will be available from 2023 range in price from $26,595 to $122,440 and offer a battery range of at least 250 miles. Autonomy have chosen electric cars with the highest projected resale values for maximum profits and will support the secondhand market after their use with the company.
This is a massive order and investment that shows that Autonomy expects the future of leasing to be in electric vehicles. Just recently, Hertz, the global rental car company, expanded its electric vehicle offerings in the USA and has seen widespread success with them. We can only expect the same sort of success for Autonomy.
Scott Painter, Autonomy CEO and founder, said: “Tesla was certainly the right launch partner for Autonomy given their dominance in the electric vehicle market today.
“With every automaker going all-in on electric and so many exciting new products coming to market in the next 6 to 18 months, we have placed our fleet order and are excited to expand our subscription lineup and make it easier for consumers to make the transition to electric.”
In preparation for order fulfilment, Autonomy has mapped vehicle deliveries to corresponding AutoNation franchise and AutoNation USA locations closest to the automakers’ distribution centres in areas with the largest density of electric vehicle registrations.
Autonomy will use its recently announced national partnership with AutoNation, the largest retailer in the US for the acquisition and intake of the majority of these vehicles. AutoNation will provide vehicle preparation, delivery services and subscriber activation, as well as maintenance, repair, and reconditioning services for Autonomy’s growing subscription fleet of electric vehicles.
Painter added: “Electric vehicles cost far more than gas-powered vehicles and most consumers will simply not make the switch to an EV without highly compelling value propositions.
“Autonomy subscriptions deliver an easier and more affordable way to get an EV, and this is why we believe that subscriptions will be the predominant contract by which consumers adopt electric vehicles from every automaker.”
Today, Autonomy offers the Tesla Model 3 and Model Y and will soon add the full Tesla lineup. Autonomy’s subscription model offers the cheapest, fastest and easiest way to drive an electric vehicle. It does not require the long-term debt or commitment that comes with buying or leasing.
Autonomy subscribers can pay their subscription entirely on their credit card or through their bank account. They have the flexibility to subscribe month to month after a three-month minimum hold period.
Consumers can subscribe to an electric vehicle entirely by app, Google Play Store or Apple App Store, and can customise their monthly payment to meet their budget. Additionally, Autonomy vehicles are available for delivery or pickup within weeks, compared with the six- to nine-month wait for a loan or lease.