This Company Is Buying 200 Tesla Vehicles Per Week — Here’s Its Future Plan

An electric vehicle subscription service company named Autonomy, which uses Tesla Inc TSLA vehicles, has recently announced that it is taking delivery of close to 200 Tesla vehicles per week.

According to a report from Electrek, Autonomy will soon add Tesla Model Y to its fleet. In addition, the firm is also planning to add 23,000 electric vehicles, which will be primarily from Rivian Automotive Inc RIVN, Lucid Group Inc LCIDand Ford Motor Company F.

Autonomy offers consumers a flexible and affordable way to access an electric vehicle. The company provides a low-commitment and cheaper alternative to getting into a Tesla Model 3 Standard and Long Range, now a Model Y Long Range.

Scott PainterCEO and founder of Autonomy, said, “Autonomy has met the moment for consumers by making subscribing to a cool EV cheaper, faster, and easier than ever before.”

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“During the first quarter of the year, Tesla made up 75% of EVs sold, with Model Y and Model 3 making up 68% of the market by themselves, showingcasing the demand and popularity for the vehicles. We’re seeing five times the demand we anticipated for our Tesla Model 3 program, and with gas prices soaring, we knew it was time to expand our lineup to include a popular crossover, such as the Model Y,” he added.

Here is how the subscription model works. All subscriptions include essential routine maintenance and roadside assistance. In addition, consumers can customize their monthly payment to as low as $690 a month (with a $7,900 start fee) up to $1,350 per month (with a $1,000 start fee and no vehicle upgrades).

A $500 security deposit is required when the subscription is activated.

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