EV Subscription Platform Ferry Partners with Inspiration Fleet to Deliver First Round of Tesla Model 3s and Ys to Austin Drivers

The Ferry App has received over 5,000 downloads as demand for flexible EV subscriptions expands in the U.S.

AUSTIN, Texas, June 6, 2022 /PRNewswire/ -- Ferry, the electric vehicle (EV) subscription platform that allows consumers to obtain short-term leases on new EVs, announced today it has partnered with Inspiration Fleet, the world's only purpose-built EV-only Fleet Management Company (eFMC), to make Tesla Model 3s and Model Ys available to Austin customers. Ferry has also reached over 5,000 app downloads, marking a key milestone in the company's mission to make sustainable mobility a reality for all Americans.

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. 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 has already had strong demand for its simple, flexible, all-in-app EV leasing experience, with more than 2500 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," said Kristian Russell, Founder and CEO of Ferry. "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."

"Ferry and Inspiration have a shared goal to accelerate electric vehicle adoption," said Josh Green, Founder and CEO of Inspiration Mobility, Inspiration Fleet's parent company. "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."

Unlike other car-subscription offerings, Ferry 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 (6, 12, or 24 month) lease for delivery to their door, purchase insurance, and access a map to find the nearest charging stations. 1000 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

The auto sector is one of the most significant contributors to greenhouse gasses, and Ferry aims to be the Amazon for e-mobility, with a goal of increasing the adoption of EVs exponentially through a direct-to-consumer model. Ferry's seamless, user-friendly app reduces the significant hurdles consumers have faced for years when seeking an EV lease. With regulations banning direct auto sales by EV manufacturers in many states, Ferry's direct leasing model presents a quicker, more direct path for Americans to get behind the wheel of an EV.

ABOUT FERRY
Ferry is an electric vehicle (EV) subscription platform that allows consumers to obtain short-term leases on new electric vehicles, right from their phones. With a focus on customer delight, their intuitive app ensures an optimized customer journey built on simplicity, flexibility and transparency for the consumer.

ABOUT INSPIRATION
Inspiration Fleet is the world's first EV-only Fleet Management Company (eFMC), built from the ground up to accelerate the electrification of transportation. The company is part of Inspiration Mobility, a sustainable infrastructure investment platform exclusively focused on the real assets that enable the EV transition. With a team of executives with deep experience across the electrification value chain, including fleet management, clean energy, auto finance, infrastructure and real estate, Inspiration delivers comprehensive solutions to deploy and scale electric fleets. Inspiration is backed by leading energy and infrastructure investors including ArcLight Capital Partners, Macquarie Asset Management, and Ferrovial. More information is available at www.inspirationmobility.com.  

Contact: Will Chabot | [email protected] | (518) 788-8685

SOURCE Ferry Automotive