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  • Mike Falter

EV Ownership as a Service

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.

The full article is available here:

Mitsubishi, AES Aim to Spur Consumer Adoption of EVs


Funding Updates and Other News

XL Batteries Closes $10M Seed II Funding Round

Giants of industry, manufacturing and finance back UK green hydrogen pioneer GeoPura with £36m investment

Building power and automation system company raises $4 million in seed funding

Leading U.S. drone manufacturer and world leader in autonomous flight, announced it has raised $230 million EIG and Modern Energy Announce a $90 Million Investment in Industrial Sun

e-bike maker Velotric, raises $7.4 million in Series A funding

Ukrainian startup Deus Robotics raised $5 million in the first round of funding

EUV Tech, a global leader in the production of metrology equipment raises Series A


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