Mitsubishi and global energy company AES have co-led a $7 million Series A investment in Motor, a start-up that has developed an electric vehicle (EV) subscription service that simplifies EV ownership for consumers.
Subscription EV ownership service, Image source: Motor
With its EV subscription service, Motor intends to simplify the EV purchase and ownership process for consumers, driving the adoption of the new technology and the electrification of personal mobility.
Motor offers consumers what they refer to as an “all-inclusive electric car subscription service.” Similar to a regular car lease, subscribers do not own the vehicle, but unlike traditional leases, the monthly fees include costs unique to EV ownership, like a home charger and participation in a utility-sponsored managed charging program.
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