Autonomy places order for 23,000 EVs worth $1.2 billion with 17 global carmakers
Autonomy™, an electric vehicle subscription company, has announced that it has placed an order for 23,000 electric vehicles with 17 global automakers to expand and diversify its subscription fleet beyond Tesla. The fleet order is valued at $1.2B.
"Tesla was certainly the right launch partner for Autonomy given their dominance in the electric vehicle market today," said Scott Painter, founder, and CEO of Autonomy.
"With every automaker going all-in on electric and so many exciting new products coming to market in the next 6 to 18 months, we have placed our fleet order and are excited to expand our subscription lineup and make it easier for consumers to make the transition to electric."
The 23,000 order represents 1.2 percent of the projected U.S. electric vehicle production through the end of 2023 and was designed to fit into the forecast production envelopes of each automaker.
Autonomy's order was placed with the fleet departments of the following automakers: BMW, Canoo, Fisker, Ford, General Motors, Hyundai, Kia, Lucid, Mercedes-Benz, Polestar, Rivian, Stellantis, Subaru, Tesla, Toyota, VinFast, Volvo and Volkswagen.
Autonomy will leverage its recently announced national partnership with AutoNation, Inc. (NYSE: AN), the largest retailer in the U.S. for the acquisition and intake of most of these vehicles. AutoNation will provide vehicle preparation, delivery services, and subscriber activation, as well as maintenance, repair, and reconditioning services for Autonomy's growing subscription fleet of electric vehicles. In preparation for order fulfillment, Autonomy has mapped vehicle deliveries to corresponding AutoNation franchise and AutoNation USA locations closest to the automakers' distribution centers in areas with the most significant density of EV registrations.
"Electric vehicles cost far more than gas-powered vehicles and most consumers will simply not make the switch to an EV without highly compelling value propositions," added Painter.
"Autonomy subscriptions deliver an easier and more affordable way to get an EV, and this is why we believe that subscriptions will be the predominant contract by which consumers adopt electric vehicles from every automaker."