Autonomy brings electric vehicle subscriptions to Orange County, spurring California expansion
The company quickly attracted several hundred active subscribers to its service.
“Our mission is to provide consumers with easy and affordable access to electric vehicles,” said Scott Painter, founder and CEO of Autonomy. “Orange County has become an electric vehicle hub in recent years, with Southern California take a big section of the state’s leading position in the research, design and manufacture of electric vehicles.
“California is known for being the automotive capital of the world and an early adopter of disruptive new technologies that improve the quality of life. We started in LA, we expanded to San Diego, and we plan to continue to build our presence across the state. We are excited to now launch our service in Orange County.”
Customers who want 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 lease or finance plans. Subscribers can reserve a Model 3 through the Autonomy app or website and a $100 refundable deposit. A payment dial allows customers to customize subscriptions from $490 per month with an initial $4,900 start-up costs, $1,000 per month with an initial $1,000 start-up costs. A $500 Refundable security deposit is required when subscription is activated.
Autonomy’s monthly payments cover traditional costs of ownership, including annual license fees, routine maintenance, roadside assistance and tire wear, all of which are additional expenses with a traditional lease or loan .
In addition to the cost advantage, Autonomy drivers have the option of subscribing month-to-month after a minimum waiting period of three months. The platform is becoming a viable option for those unwilling or unable to afford the long-term commitment of buying or leasing an electric car.
Autonomy’s subscription model offers a radical new solution to the growing demand for electric cars. An added benefit is the company’s stock of 3 models that are available for delivery in days, not months, compared to waiting six to nine months for a lease or loan.
Autonomy is the first US company to offer a full monthly subscription for a Tesla Model 3, with other popular electric vehicle models planned for the near future. Founded by serial automotive entrepreneurs Scott Painter (CarsDirect, TrueCar, Fair) and George Bauer (Mercedes-Benz, BMW, Tesla, Fair), Autonomy is designed to deliver a fast and efficient customer experience. A vehicle can be ordered on the app in as little as 10 minutes and picked up from a sales center the next day or scheduled for delivery within a week.
“In Orange County, electric cars are becoming mainstream, especially among young drivers,” said George Bauer, co-founder and president of Autonomy. “The county is working to ensure there is enough electric charging stations to meet demand and further promote the use of electric vehicles. This will make it even more convenient for consumers who want to get an Autonomy subscription.”
Autonomy recently received $83 million debt and equity financing to support its expansion.
Autonomy is a technology company whose mission is to make access to mobility easy and affordable through car subscriptions. The company was founded by disruptors in auto retail, auto finance and auto insurance Scott Painter and George Bauer, which founded Fair, the first ever pre-owned vehicle subscription offering, pioneering the Car-as-a-Service (CaaS) category. Building on this experience, Autonomy has created a turnkey vehicle subscription platform for consumers and the automotive industry that allows vehicle subscriptions to cost-effectively scale and become a mainstream alternative to purchase of traditional cars. Autonomy innovates through technology, finance and insurance to power automotive subscriptions for the battery, electric vehicle and zero-emission vehicle sectors. Autonomy relies on partnerships with automakers and physical car dealerships to deliver consumer and industry benefits. Self-reliance represents the absence of long-term debt, the absence of long-term commitments, and even the absence of fossil fuels. It means new choices and more control over your financial well-being. Autonomy is based on Santa Monica, California.
PR contacts Autonomy:
Head of Investor Relations and Corporate Communication
Corporate Communications Manager