Kyte announces fleet of Tesla Model 3s for $995/month subscription service across the US

On-demand rental company Kyte announced that it is acquiring a fleet of Tesla Model 3 vehicles to offer a new monthly subscription service starting at $995 across the US.

The concept of “subscribing” rather than buying or leasing a car outright has gained traction in recent years. Many automakers and third-party companies have introduced services whose main advantage is being simpler and requiring less commitment than leases – Tesla vehicles are beginning to become a popular alternative to those services.

Earlier this year, a new startup, Autonomy, announced that it had purchased a fleet of 100 Model 3 vehicles to offer a subscription service, and aims to grow the fleet to 10,000 Tesla vehicles by the end of the year.

Now Kyte, best known as an on-demand car rental service, announced that it is also jumping into the car subscription business with a fleet of Tesla Model 3 vehicles:

This rollout of Kyte’s latest offering is the next milestone in a series of impressive successes by the California-based company and will eventually be available across all of Kyte’s existing 14 markets. As part of this new subscription service, the Tesla Model 3S will be available and will include maintenance, insurance, registration and roadside assistance. For those looking for the Tesla experience without the ownership hassles and long-term commitment, Kyte’s offering will allow customers to reap all the benefits while avoiding the challenges – no maintenance and no lock-in. Also, for those who like the performance of their Tesla, Kyte offers the option to flexibly increase the subscription at any time.

The company didn’t say how many Tesla vehicles it secured for service, but it recently secured $200 million of asset-backed credit financing to expand its offering.

The service is all-inclusive with registration, insurance, and more:

They are using a Tesla Model 3 Long Range AWD, and the website specifically mentions Pearl White, which is the base color.

It starts at $995 per month with a 12-month commitment, but you can only subscribe to Cars for three months:

In comparison, Autonomy starts at $490 per month, but requires a $4,900 “start up fee”. The company revised those prices earlier this week, as Kyte announced its service.

Eric Zahnlecker, Product Director at Kyte, commented on the announcement:

Being able to expand our fleet and increase EV adoption is mission-critical. We don’t just want to be the innovator in giving people access to cars, but we want to be a catalyst for rapid change in the transportation industry as a whole. This rollout is critical to our growth strategy and to our electrified, autonomous and shared vision.

The company is going to start deliveries of Model 3 vehicles from April 15.

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