SANTA MONICA, Calif. – Electric vehicle subscription company Autonomy continues to expand its services in California, adding the city of Sacramento to its market coverage area.
The news comes on the heels of the announcement earlier this week to expand the company’s services to Orange County in Southern California. In March, the company also recently launched in San Diego, added the San Francisco Bay Area to its market coverage, and had a successful commercial launch in Los Angeles in January.
The Santa Monica, California-based Autonomy has quickly drawn several hundred active subscribers to its service.
In the early 1990s, Sacramento’s City Council first established an EV parking program, providing discounted parking to EV drivers in city-owned parking spaces. Since then, the city has been intensively working to give the citizens public EV charging facilities to support the adoption of low-emissions and zero-emissions vehicles (ZEVs) in the community and in fleet operations. The city of Sacramento has set a goal of reaching 75,000 ZEVs on the road by 2025 and becoming California’s zero-emissions vehicle capital.
Customers eager to drive a Tesla Model 3 will access Autonomy’s fast, easy, and affordable subscription service. With new pricing announced in March, Autonomy’s monthly subscription costs less than Tesla’s 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 payment covers the traditional ownership costs, including annual registration and licensing fees, routine maintenance, roadside assistance, and everyday wear and tear on tires, 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 is a viable market 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 available for delivery within 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 soon. Founded by serial auto entrepreneurs Scott Painter (CarsDirect, TrueCar, Fair) and Georg Bauer (Mercedes-Benz, BMW, Tesla, Fair), Autonomy provides a quick and efficient customer experience. A vehicle can be ordered on the app in as little time as 10 minutes, picked up from a vending center the next day, or scheduled for delivery within a week.
Autonomy recently received $83 million in debt and equity financing to support its expansion.