SANTA MONICA, Calif., April 14, 2022-- Electric vehicle subscription company Autonomy, the cheapest, fastest, and easiest way to get a Tesla Model 3, continues to expand its services in the state of California, adding Orange County as a new market coverage area, the company announced today.
The news follows last week's announcement of an expansion of company services to San Diego after the company held a successful commercial launch in Los Angeles in January and added services in the San Francisco Bay Area in March.
The firm has in a short time drawn several hundred active subscribers to its service.
"Our mission is to provide consumers with easy, affordable access to electric vehicles," said Scott Painter, founder and CEO of Autonomy. "Orange County has become a growing hub for electric vehicles over the past few years, with Southern California taking a big chunk of the state's leading position for the research, design, and manufacturing of EVs.
"California is known to be the car capital of the world and an early adopter of disruptive new technologies that improve quality of life. We began in L.A., have expanded into San Diego, and plan to continue to build our presence throughout the state. We are excited to now launch our service in Orange County."
Customers eager to drive a Tesla Model 3 will have access to Autonomy's fast, easy, and affordable subscription service. With new pricing announced in March, Autonomy's monthly subscription costs less than Tesla's own leasing or financing plans. Subscribers can reserve a Model 3 via Autonomy's app or website and a $100 refundable deposit. A payment dial allows customers to personalize subscriptions from as low as $490 per month with an initial $4,900 start fee, to $1,000 per month with an initial $1,000 start fee. A $500 refundable security deposit is required when the subscription is activated.
Autonomy's monthly payments cover the traditional costs of ownership, including annual registration fees, routine maintenance, roadside assistance, and wear and tear on tires, which are all additional expenses with a traditional lease or loan.
Adding to the cost advantage, Autonomy drivers have the flexibility to subscribe month to month after a three-month minimum hold period. The platform becomes a viable option for those who do not want or cannot afford the long-term commitment of buying or leasing an electric car.
Autonomy's subscription model offers a new radical solution to the rising demand for electric cars. An additional advantage is the company's stock of Model 3s that are available for delivery in days not months, compared with the six- to nine-month wait for a lease or loan.
Autonomy is the first U.S. company to offer a comprehensive monthly subscription for a Tesla Model 3, with other popular EV models scheduled in the near future. Founded by serial auto entrepreneurs Scott Painter (CarsDirect, TrueCar, Fair) and Georg Bauer (Mercedes-Benz, BMW, Tesla, Fair), Autonomy is designed to provide a quick and efficient customer experience. A vehicle can be ordered on the app in as little time as 10 minutes and picked up from a vending center the next day or scheduled for delivery within a week.
"In Orange County electric cars are becoming mainstream, especially among younger drivers," said Georg Bauer, co-founder and president of Autonomy. "The county is working to ensure there are enough electric charging stations to meet demand and further promote the use of EVs. This will make it even more convenient for consumers looking to get an Autonomy subscription."
Autonomy recently received $83 million in debt and equity financing to support its expansion.
ABOUT AUTONOMY
Autonomy is a technology company on a mission to make access to mobility easy and affordable through car subscriptions. The company was founded by auto retail, auto finance, and auto insurance disruptors Scott Painter and Georg Bauer, who founded Fair, the first-ever used-vehicle subscription offering, pioneering the Car-as-a-Service (CaaS) category. Building upon that experience, Autonomy has created a turnkey vehicle subscription platform for consumers and the automotive industry that enables vehicle subscriptions to scale profitably and become a mainstream alternative to traditional car buying. Autonomy is innovating through technology, finance, and insurance to power car subscriptions for the battery, electric vehicle, and zero-emissions vehicle sectors. Autonomy relies on partnerships with automakers and brick-and-mortar car dealerships to provide benefits to both consumers and the industry. Autonomy represents freedom from long-term debt, freedom from long-term commitments, and even freedom from fossil fuels. It means new choices and more control over your financial well-being. Autonomy is based in Santa Monica, California.
Autonomy PR Contacts:
Shadee Malekafzali
Head of Investor Relations and Corporate Communications
shadee@autonomy.com
Matt Swope
Corporate Communications Manager
matts@autonomy.com
