EV Subscription Company Orders $1.2B in EVs
Aug. 11, 2022—EV subscription company Autonomy on Tuesday said it placed an order for 23,000 EVs from 17 different automakers for its service.
California-based Autonomy allows drivers to buy a subscription to an EV instead of the vehicle itself. According to a report from the Detroit Free Press, the company only has Teslas available for customers, but this purchase will greatly expand its offerings.
“With every automaker going all-in on electric and so many exciting new products coming to market in the next six to 18 months, we have placed our fleet order and are excited to expand our subscription lineup," Autonomy CEO Scott Painter said.
The order, valued at $1.2 billion, is with 17 different automakers, but the vast majority will be from six companies: General Motors (3,400 EVs, $138M), Volkswagen (2,220 EVs, $107M), Ford (1,800 EVs, $88M), Hyundai (1,640 EVs, $74M), Kia (1,500 EVs, $69M) and Rivian (1,000 EVs, $72M).
The order will represent about 1.2 percent of all projected EV development in the U.S. through the end of next year.