Skip to main content
Tampa Bay-Lakeland
Business Observer Wednesday, Sep. 21, 2022 2 months ago

Electric vehicle subscription service arrives in region

Share
Steer EV, part of Toronto-based Facedrive Inc., has opened an operations hub in Tampa.

Facedrive Inc., a tech company headquartered in Toronto, has brought its Steer EV electric vehicle subscription service to Tampa.

In a news release, the firm says Steer EV challenges the traditional car-ownership model and capitalizes on the growing public appetite for environmentally friendly modes of transportation that provide flexible, pay-per-use options, such as the electric scooters that have been adopted by cities across the country.

Subscription plans start at $1,299 per month, according to the company’s website, but that cost includes insurance, maintenance, vehicle swaps, roadside assistance, charging resources and concierge delivery. The Steer EV platform is also available in Austin, Texas; Toronto; Vancouver, B.C.; and Washington, D.C.

The global car subscription market, the release states, was valued at $3.55 billion in 2019 and is projected to reach $12.1 billion by 2027, representing a compounded annual growth rate of 23.1%. Facedrive caters to the higher end of the market with EVs made by Audi, Jaguar, Jeep, Porsche, Tesla and Toyota.

The vehicles, according to the release, comply with the new standards proposed by the Biden administration, which says there are now 2 million EVs on U.S. roads and 100,000 charging stations available throughout the country.

Related Stories

Advertisement