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August 11, 2022

Autonomy orders 3,140 more EVs

Plans to spend US$1.2bn on 23,000 EVs

US electric vehicle (EV) subscription company Autonomy said it had agreed to buy 3,140 Hyundai and Kia EVs to add to its fast growing fleet in a deal worth US$143m, according to local media.

The order is for 1,640 Hyundai and 1,500 Kia EVs which will be added to the existing fleet of 1,000 Tesla Model 3 and Model Y vehicles.

California based Autonomy said it plans to spend US$1.2bn building up a diversified fleet of 23,000 EVs from 17 different brands by the end of 2023.

This latest order also included 8,300 additional Teslas worth US$443m, as well as 3,400 GM EVs, 2,200 from Volkswagen and 1,800 Fords.

Autonomy launched its EV subscription business in January to provide access to the latest EVs to a broad segment of the US public without customers having to take on long term commitments through traditional leases or loans.

The company said it “believes in a sustainable, equitable future. One where you can freely enjoy the open road without destroying the planet”.

Founder and CEO Scott Painter said in a statement: “With every automaker going all-in on electric and so many exciting new products coming to market in the next six to 18 months, we have placed our fleet order and are excited to expand our subscription line-up.”

Hyundai Motor Group plans to begin production of hybrid and electric vehicles at its existing Alabama plant in the US in the fourth quarter of 2022. Last May, its announced plans spend US$5.54bn to build its first dedicated EV plant and battery manufacturing facility in Brian County, Georgia.

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