Ferry partners with Inspiration Fleet to bolster EV subscription platform
Here’s another development involving EVs and shorter consumer obligations.
Ferry, an electric vehicle subscription platform that allows consumers to obtain short-term leases on new EVs, announced this week it has partnered with Inspiration Fleet to make Tesla Model 3s and Model Ys available to customers in Austin, Texas.
Ferry said it has also reached more than 5,000 app downloads, marking what it called a key milestone in the company’s mission to make sustainable mobility a reality for all Americans.
The companies highlighted Inspiration Fleet’s flexible, tailored financing enables Ferry to offer Tesla and other electric vehicles to its customers via an attractive subscription package, and allows Ferry to quickly enter new markets with a scalable operations architecture.
The companies also mentioned this partnership advances the progress made in February when Ferry announced a $4 million seed round led by prominent automotive industry investors and in May when Ferry announced its first deliveries of the Vespa Elettrica in Austin, as well as its expansion into the San Francisco and Los Angeles markets.
Ferry said it has already had strong demand for its simple, flexible, all-in-app EV leasing experience, with more than 2,500 app users in Austin alone and thousands of “wishlist” selections for EVs that will soon be available for delivery, since going live in November of 2021.
“At Ferry, we believe in a future where electromobility is for everyone, and we’re proud to work with a visionary company like Inspiration to ensure that mission becomes a reality,” Ferry founder and chief executive officer Kristian Russell said in a news release.
“By partnering with Inspiration, Ferry will help accelerate the adoption of sustainable driving by pushing the American auto sales industry into a more digital, and more flexible future, at more and more attractive customer price points,” Russell continued.
Unlike other car-subscription offerings, Ferry said it charges no down payment or initiation fee and offers a single, transparent monthly payment to e-curious customers who may not want to commit to a 36-month lease or purchase term.
Through Ferry’s app, users can select a short-term (six-, 12- or 24-month) lease for delivery to their door, purchase insurance, and access a map to find the nearest charging stations.
Ferry added that 1,000 miles per month (with the ability to upgrade), maintenance and taxes are all included, and a Ferry ambassador delivers the car for a flat fee of $99.
Ferry is currently delivering the following EV models to Austin customers:
• Vespa Elettrica from $179/month
• Tesla Model 3 subscription from $799/month
• Tesla Model Y subscription from $999/month
Josh Green is founder and CEO of Inspiration Mobility, Inspiration Fleet’s parent company.
“Ferry and Inspiration have a shared goal to accelerate electric vehicle adoption,” Green said. “We believe that Ferry’s affordable and flexible subscription options for drivers interested in ‘going electric’ can increase consumer trial and experience, which in turn drives enthusiasm and broader adoption.
“We are proud to support them in their efforts to democratize access to EVs and electric mobility in the United States,” Green went on to say.