SANTA MONICA, Calif., April 7, 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 the San Diego market to its coverage area, the company announced today. Autonomy had a successful commercial launch in Los Angeles in January, adding service in the San Francisco Bay Area in March, and in a short time, it has drawn hundreds of 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. "We know California to be both the car capital of the world and an early adopter of disruptive new technologies that improve quality of life. We began in L.A., and naturally are excited about expanding into San Diego, the second largest city in California, as we continue to build our presence throughout the state."
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 loan 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 payment, to $1,000 per month with an initial $1,000 payment. 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 and licensing 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 within a few days, 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.
"San Diegans are moving quickly toward adopting electric vehicles, and the city already has over 1,400 charging stations, including 250 DC Fast Chargers, which make it more convenient for consumers looking to get into an Autonomy subscription," said Georg Bauer, co-founder and president of Autonomy.
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 a benefit 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, CA.
Autonomy PR Contacts:
Shadee Malekafzali
Head of Investor Relations and Corporate Communications
shadee@autonomy.com
Matt Swope
Corporate Communications Manager
matts@autonomy.com
