Autonomy, a US electric-vehicle subscription provider, said it is expanding its fleet with an additional 1,250 battery-electric cars after securing $25 million in financing, marking a shift from its previous Tesla-only offering.
The investment, backed by a loan from SR Alternative Credit arranged through Finacity Corporation, will support the integration of new models, including the Polestar 2, Tesla Model 3 Highland and Tesla Model Y Juniper.
The company said the procurement round is designed to diversify model categories and price ranges. It added that the inclusion of Volvo and Polestar vehicles is intended “to offer more models and price categories, including both current models and lease returns,” while noting it is “already working with Volvo and other car manufacturers to secure additional vehicles.”
Autonomy operates in seven US states, including California, Texas and New York, using a subscription model that allows customers to access electric cars through a mobile app. Founder and CEO Scott Painter said the company aims to simplify vehicle access for users, stating that “Autonomy’s goal is to make getting a car as easy as streaming a movie and to do it on the customer’s terms.” The company has partnered with Galpin Motors to support the rollout of Polestar vehicles in Los Angeles and works with Deloitte to handle customer service needs.