Tesla, GM Score Biggest Share of $1.2 Billion EV Order From Startup Autonomy

(Bloomberg) -- Tesla, GM, Volkswagen and Ford are among the automakers set to get big orders from Autonomy, a startup offering drivers the option of subscribing to an electric vehicle instead of buying one outright.

Autonomy plans to announce Tuesday that it’s ordering nearly 23,000 EVs from 17 different automakers for a total outlay of $1.2 billion. With chip shortages limiting production capacity at most automakers, it’s unclear how soon such a fleet could be amassed. The order represents 1.2% of the projected US electric vehicle production through the end of next year.

Some deliveries won’t begin until the fourth quarter or early 2023, Scott Painter, Autonomy’s founder and chief executive officer, said in an interview. The Santa Monica, California-based company launched its subscription service in January and currently has 1,000 cars -- all of which are Tesla models.

“This 23,000 order is really about diversifying away from Tesla and getting into everything at different price points,” said Painter, who is best known for founding auto-pricing company TrueCar Inc.