Friday, July 12, 2024

Autonomy expansion of its EVs lineup with cars worth $143 mn from Hyundai, Kia

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US electric vehicle subscription company Autonomy said it would buy 3,140 electric vehicles from Hyundai Motor Co., and its affiliate Kia Corp.

The purchase is intended to strengthen the ranks of its fleet, as quoted from Yonhap, Thursday (11/8/2022). Autonomy on Tuesday (08/09/2022) placed an official order to receive 1,640 electric vehicles (EVs) from Hyundai and 1,500 electric vehicles from Kia in a combined deal worth $143 million, according to the US startup.

The order is part of Autonomy’s $1.2 billion plan to buy 23,000 electric vehicles from 17 different automakers, to expand and diversify its fleet of subscriptions beyond Tesla Motors Inc., the company said in a statement.

“With every automaker going electric and so many exciting new products coming to market in the next 6 to 18 months, we’ve ordered our fleet and are excited to expand our subscription line,” said Autonomy founder and CEO Scott Painter in a statement. .

Orders for 23,000 vehicles represent 1.2 percent of the forecast for electric vehicles to be produced in the US through the end of 2023. The Santa Monica, California-based company started its electric vehicle subscription business in January and currently has a fleet of 1,000 electric vehicles, all from Tesla.

Of the most recent orders, Tesla received the largest order of US$443 million, or 8,300 electric vehicles, from Autonomy, followed by General Motors Co., with 3,400 electric vehicles, Volkswagen with 2,200 electric vehicles, and Ford Motor Co., with 1,800 electric vehicles.

Autonomy expansion of its EV lineup with the Tesla Model Y Long Range

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