- Facedrive (FD) has successfully launched its electric vehicle (EV) subscription service in Toronto
- The official Steer App for Toronto has now been launched in IOS and Android app stores, making month-to-month subscriptions available to Torontonians
- Steer’s all-in subscription price for an EV vehicle includes insurance, routine maintenance and repair, and a concierge service
- The feedback from Steer’s first Canadian-trial customers has been very encouraging
- Facedrive is a ridesharing company that operates in the technology sector
- Facedrive Inc. (FD) is down 1.33 per cent, trading at C$14.80 per share at 11:30 am ET
Facedrive (FD) has successfully launched its electric vehicle (EV) subscription service in Toronto and delivered its first batch of vehicles to customers.
Canadian consumers now have access to Steer’s innovative subscription-based Transportation as a Service (TaaS) business model.
Originally launched in Washington, DC and currently operating with over 130 EV and plug-in hybrid electric vehicles, Facedrive has brought the platform home to Toronto, which will serve as the Canadian launchpad for Steer.
Steer, a technology-driven EV/PHEV subscription platform was acquired from Exelorate Enterprises LLC, a subsidiary of Exelon Corporation, in September 2020.
Steer was created to challenge the traditional car purchase and ownership model and accelerate the general public’s switch over to environmentally friendly transportation through an automobile subscription service.
The official Steer App for Toronto has now been launched in IOS and Android app stores, making month-to-month subscriptions available to Torontonians.
Steer’s all-in subscription price for an EV vehicle includes driver essentials such as insurance, routine maintenance and repair, and a concierge service that removes the hassle of car ownership and enables seamless vehicle swaps.
In the first phase of the Toronto launch, Steer’s fleet consists of Tesla Model Y and Model 3 vehicles for the “Practical Member” tier and Tesla Model X and Model S vehicles for the “Premier Member” tier. The Toronto market response has already resulted in over 1,000 registrations to date, as well as a growing number of deposits from subscribing customers.
Following this initial launch phase, Steer plans to scale up operations to expand across Canada and the USA. EV vehicle options are growing significantly on an annual basis, presenting Steer as the ideal solution for consumers to explore and select the EV vehicle that fits their lifestyle.
This announcement of Steer’s launch in Canada comes on the heels of the growing public attention to the issue of climate change and governments’ intensifying efforts to mitigate these effects.
The feedback from Steer’s first Canadian-trial customers has been very encouraging. Siddarth Prakash, an IT professional from Toronto who is currently behind the wheel of Steer’s Tesla Model Y, has shared his experience using the service,
“I have been very excited to get started with Steer and see my new vehicle. I have been constantly in touch with the Steer team and look forward to meeting them in person as I pick up my Tesla Model Y today”.
“The expansion of Steer to Canada marks a watershed moment for environmentally responsible transport in Canada, and we are thrilled that Canadians will now have hassle free, on demand and flexible access to high-quality EV’s with a few clicks on their smartphone,” said Sayan Navaratnam, Chairman of the Board and CEO of Facedrive.
“Steer’s products and service offerings have garnered an overwhelmingly positive response according to the initial feedback we’ve received from retail consumers in Toronto. Moreover, we have been contacted by potential corporate customers interested in enrolling their employees in Steer’s eco-friendly subscription service. In order to meet the demand for the service and be able to supply a larger number of vehicles to the customers in a shorter time, we are looking at financing the vehicles with Tier 1 financial institutions. The Steer team is working hard to provide conscientious Canadians with the ability to choose responsible transportation solutions while enjoying superior quality of service”.
Facedrive is a multi-faceted ridesharing company that operates in the technology sector.
Facedrive Inc. (FD) is down 1.33 per cent, trading at C$14.80 per share at 11:30 am ET.
