Kyte Leaps Towards Electrified Future with New Tesla Subscription

Leading car-on-demand company achieves major milestone in continued expansion with state-of-the-art offering

SAN FRANCISCO, March 31, 2022 /PRNewswire/ -- Kyte, the company pioneering cars delivered to you on-demand, today announced the launch of its new Tesla subscription product. The new fleet of premium electric cars will be available in San Francisco and New York City service areas (including Manhattan, Brooklyn, and Jersey City) starting April 15^th. This follows the company's recent announcement of a significant round of asset-backed credit financing from Goldman Sachs and Ares Global Management of $200M.

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 in all of Kyte's current 14 markets. As part of this new subscription service, Tesla Model 3s will be available and will include maintenance, insurance, registration, and roadside assistance. For those looking for the experience of a Tesla, without the hassles of ownership and the long term commitment, Kyte's offering will allow customers to reap all the benefits while avoiding the challenges – no maintenance and no lock-in. What's more, for those that come to love the performance of their Tesla, Kyte provides the option to extend subscriptions flexibly 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."

Giving people access to cars was why Kyte was founded, and this allows the company to disrupt things once again. The introduction of this new offering is not only unique, it's affordable – proving you don't need to overspend to experience the premium electric vehicle market. Adding another layer of customer-centricity and technology-powered operational excellence, the new Tesla subscription service has proven that Kyte has and continues to redefine transportation. To learn more about the service and subscribe, please visit: https://drivekyte.com/tesla-subscription.

About Kyte
Kyte aims to give people better access to fewer cars and replace car ownership by offering access to cars on demand. The company's intentional approach increases vehicle utilization and takes cars off the road for a more sustainable future while saving customers time and money.

Through the Kyte mobile app on iOS, Android, or website, customers can book a car for a day, multiple days, multiple weeks, months, or however long they want. To begin, customers choose a time and location for their vehicle delivery. Then, the company dispatches a delivery driver — known as a "Kyte Surfer" — to deliver a clean, sanitized car at the time requested. When the vehicle is ready to be returned, a Kyte Surfer retrieves the car from the customer at the location and time they can flexibly choose.

Currently operational in over a dozen cities, Kyte was founded in 2019 by Nikolaus Volk, Ludwig Schoenack, and Francesco Wiedemann, and is headquartered in San Francisco, CA, with offices in Munich, Germany, and satellites across the globe. For more information about Kyte, visit kyte.com, and for career opportunities, please visit their career page.

SOURCE Kyte