Car-on-demand company Kyte is expanding by adding electric vehicles to its fleet. Tesla Model 3 Long Range All-Wheel Drive will be available to customers on a monthly subscription.
Car-on-demand pioneer Kyte announced a new product on Thursday. The company offers the opportunity to use Tesla Model 3 Long Range All-Wheel Drive (AWD) by subscription. According to a company press release, the new fleet of premium electric vehicles will be available in the San Francisco and New York service areas starting April 15. The news comes after the company announced a significant round of asset-backed credit financing from Goldman Sachs and Ares Global Management of $200 million.
This deployment of the Model 3 is a new milestone in the company's series of achievements. Kyte said it intends to offer vehicles of the Texas-based manufacturer in all 14 markets in which it has a presence. Tesla Model 3 vehicles will be available as part of a subscription service that will include maintenance, insurance, registration, and roadside assistance.
Customers who choose a subscription for 12 months will be able to get Tesla Model 3 at the best price. For one month of use, the cost of use will be $995 per month. For those who subscribe for six months, the cost will be $1,125 per month. Customers who want to use the electric car for three months will have to pay $1,350 per month. You can reserve a car right now with a $100 refundable deposit on Kyte's website. For those looking for a Tesla experience without the hassle of ownership and long-term commitment, the company's offering is a bargain. Kyte also provides the flexibility to renew your subscription at any time.
“Being able to expand our fleet and amplify EV adoption is mission-critical. We don't want to only be innovators in how we give people access to cars, but we want to be a catalyst for the rapid change going on in the transportation industry as a whole,” said Erik Zahnlecker, Director of Product at Kyte. “This rollout is pivotal to our growth strategy and core to our electrified, autonomous, and shared vision.”
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Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.