“Northern California is famous as an early adopter market that embraces disruptive new technologies that improve quality of life,” said Scott Painter, CEO & Founder at Autonomy. “We launched commercially in Los Angeles in January and immediately saw a third of our demand from the San Francisco Bay Area. Our digital first and EV focused approach to mobility clearly struck a chord, so it made sense to expand our operations and footprint.”

Autonomy also revealed new pricing, offering an even lower monthly subscription for a Tesla Model 3, which costs less than Tesla’s own lease or a loan. Subscribers can reserve the Model 3 via Autonomy’s app or website with a $100 refundable deposit. The new subscription price includes a flat monthly payment of $490 other $4,900 start payment. Consumers also have the ability to use Autonomy’s payment dial to customize their payment structure from as low as $490 a month with $4,900 start payment to $1,000 a month and as low as $1,000 start payment. A refundable $500 security deposit is required at the time of subscription activation.

Autonomy’s subscription includes traditional ownership costs, including annual registration and license fees, routine maintenance, roadside assistance costs, and tire wear and tear, whereas consumers would have to incur all of those costs for a lease or a loan.

The savings get even bigger if we factor in the fuel costs for a gas-powered vehicle. With average gas prices in California at $5.79a consumer driving a 25 mpg ICE vehicle at 15,000 miles per year will spend $281 on fuel every month, or $3,376 annually. To compare, electricity expenditures on an EV are $0.248 per kWh, which results in $77.50 monthly, or $930 annually, a 72.5% savings on fuel. When you add the monthly payment to the monthly gas bill, as well as routine maintenance and other fees, an Autonomy Tesla Model 3 subscription represents a savings of about $500 a month.

In addition to the lower price point and savings, Autonomy offers consumers the flexibility to subscribe month-to-month after only a three-month hold period. Autonomy has vehicles in stock and available for delivery today, so consumers do not have to wait six to nine months as they do for their Model 3 lease or loan.

“Cheaper, faster, and easier are values ​​that resonate with every consumer,” said George Bauer, Co-Founder and President at Autonomy. “Our new, lower prices are driving increased EV adoption and have set the stage for expansion into the San Francisco Bay Area today, as well as other markets outside of California in the coming weeks and months.”

Founded by serial auto entrepreneurs Scott Painter(CarsDirect, TrueCar, Fair), and George Bauer (Fair, Tesla, Mercedes-Benz, BMW), Autonomy is the first US company to offer a comprehensive monthly subscription for a Tesla Model 3 and soon other popular EV models and brands. Built on a quick, efficient customer experience, Autonomy’s app allows customers to reserve a vehicle in as little as 10 minutes and schedule their delivery within a week.

Autonomy recently received $83 million in debt and equity financing in support of the 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 other George 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

sources

AAA average gas prices in CA on 3/17/22: https://gasprices.aaa.com/?state=CA

Average MPG Nationally 2020 https://www.energy.gov/eere/vehicles/articles/fotw-1177-march-15-2021-preliminary-data-show-average-fuel-economy-new-light Average $/kWh in Los Angeles https://www.bls.gov/regions/west/news-release/averageenergyprices_losangeles.htm

BMW 330i base model MSRP of $42,245 + $85 Doc + $725 Reg (est.); Excludes sale tax

Average new car loan interest rate 2021Q5

Excludes Sales Tax

CA DMV Calculator: https://www.dmv.ca.gov/wasapp/FeeCalculatorWeb/newVehicleForm.do

Average BMW Maintenance cost https://repairpal.com/bmw/

Autonomous PR Contacts:

Shadee Malekafzali
Head of Investor Relations and Corporate Communications
[email protected]

Asher Gold
Gold PR
[email protected]

SOURCE Autonomy

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Traffic in New York City near the Port Authority Bust Terminal bus ramp on 8th Avenue. Photo courtesy of Wikimedia Commons user Raidarmax.

New York City is moving forward with its plan to enact the very first congestion pricing law in the country, driving vehicles south of 60 million people.

Construction Drive reports that the city government will renew public hearings next week on the plan, which has been debated since the bloom of the Bloomberg administration.

The controversial move was first approved by the Albany state legislature in 2019 with a goal of generating over $ 1 billion a year in revenue, which in turn would help support a now-suspended MTA capital project of $ 51 billion -Dollars to pay.

The move is only beginning to move forward now after it was blocked for a period of years by the Trump administration amid an apparent dispute between the executive branch and then-Governor Andrew Cuomo.

Related on Archinect: The War on Cars celebrates another victory in New York City

New York hopes to follow cities like Stockholm in implementing the directive, which will also help increase the number of subway riders, which have remained low after the pandemic and recent increase in crime.

The measure is not without notable opponents who claim that congestion prices are just a factor for middle- and low-income drivers who could be charged up to $ 3,000 a year in tolls depending on where their commute starts and ends .

Still, if introduced, the toll could open up an easier path for other cities like San Francisco (which is currently working on its own plan), which Kate Slevin, executive vice president of the Tri-State Regional Plan Association, says: important to that Development of urban life in the 21st century.

“We want the MTA and the city to get it right,” she told Construction Drive. “We need these types of solutions across the country to meet the challenges ahead. Many eyes were on New York and will continue to be. “

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