Zevvy, based in Hayward, offers six-month EV leases targeted at Uber drivers and others who spend considerable hours behind the wheel, giving them a different path into a Tesla, Chevy Bolt, or othe…
tax credits meant to phase out gasoline-guzzlerAnd a wave of companies that let wary drivers lease or subscribe their way to an electric vehicle are making the most out of the government carrots. “They’ve got to be convinced,” says Andrew Krulewitz, founder of Zevvy, an EV financing startup. “Buying cars is a big deal.”
Signing up for this service, called EV Concierge, can cut a customer’s monthly energy bill by 20% to 30%, according to Chris George, the US EV director for Octopus. He compared this to programs with smart thermostats where utilities will automatically tweak the heat inside homes depending on demand on the grid.
Then the pandemic choked automotive supply chains, sending car prices up and the number of leases down. EVs in particular suffered from long delays and fluctuating prices. The share of new EVs financed via lease fell to 9.9% in the third quarter of last year, from 48.3 in 2017, according to credit-reporting company Experian.
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