Autonomy Launches Tesla Model 3 Subscription Program

Jan 21, 2022 By MarketDepth

Breaking Business Headlines Investing Technology What's Hot

TeslaModel3 2

Auto Finance and Insurtech entrepreneurs Scott Painter and Georg Bauer have launched an electric vehicle and zero-emissions vehicle subscription program, starting with a Tesla, Inc.’s (NASDAQ: TSLA) Model 3.  It has been rebranded under its newly acquired consumer brand ‘Autonomy.’  “Electric vehicles have reached a tipping point, and it’s clear that the Tesla Model 3 is this generation’s Prius,” said Scott Painter, founder and CEO of Autonomy. “Financial responsibility and the avoidance of debt is also at an inflection point and subscriptions have become a pervasive, sustainable business model and a cornerstone of modern digital life.”

Monthly Subscription Model

The vehicle subscription program for the Tesla Model 3 features a month-to-month contract for a minimum term of three months.  Designed for consumers to order their vehicle in 10 minutes by providing their driver’s license and a digital form of payment.  “Autonomy is a big idea, and whether it’s freedom from long-term debt, commitment, complication, confrontation, or fossil fuels, everyone can relate to the desire for more autonomy in life,” added Painter.

“The future of transportation is zero-emissions vehicles. At Autonomy, we are accelerating the shift toward sustainable mobility by giving consumers flexible access to electric vehicles at affordable monthly payments. Vehicle subscriptions reduce the barriers to adoption of electric vehicles, providing a low-commitment option with lower upfront costs. It is perfect for people who are interested in EVs but are not ready to make a long-term commitment due to concerns around cost or range anxiety.”

Georg Bauer, co-founder and president of Autonomy