Autonomy to Offer Tesla Model 3 Subscriptions
January 20 2022 - 4:26PM
Dow Jones News
By Stephen Nakrosis
Automotive subscription platform NextCar Holding Co., which has
rebranded as Autonomy, said Thursday it will offer Tesla Model 3
electric vehicles through a subscription program.
The company said the service, which will initially be available
in California, will provide customers with low-mileage Model 3
Teslas, and will later expand to include other Tesla models.
Shoppers can make reservations at Autonomy.com, and the program
will be featured on automotive marketplaces including TrueCar.com
and AutoWeb Inc., Autonomy said.
The company also said its Tesla Model 3 subscription features a
month-to-month contract after a three-month minimum term.
Following the announcement, shares of AutoWeb moved higher. At
3:44 p.m. ET, the company's shares were trading up 21.77% at $3.85
each. At 3:46 p.m. ET, shares of TrueCar Inc. were trading 9.09%
lower at $3.40 each.
The announcement follows the closing of an $83 million equity
and debt financing and acquisition of the Autonomy brand,
Autonomy.com and the global trademark library and related brand IP,
and the phone number 1-800-AUTONOMY, the company said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 20, 2022 16:11 ET (21:11 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Tesla (NASDAQ:TSLA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Tesla (NASDAQ:TSLA)
Historical Stock Chart
From Sep 2023 to Sep 2024