Connect with us
Autonomy debuts EV subscription service in Austin, TX Autonomy debuts EV subscription service in Austin, TX

News

Autonomy debuts EV subscription service in Austin, TX

Credit: Autonomy

Published

on

Autonomy debuted its electric vehicle subscription service in Austin, Texas, following its successful launch in California earlier in 2022 and its recent expansion into Florida and Washington. Following California and Florida, Texas is ranked third in EV registrations.

With almost 30,000 new EVs on the road between 2020 and 2021, Autonomy noted that the growth and natural demand makes Texas, “a compelling state for Autonomy to expand operations into.”

Scott Painter, founder, and CEO of Autonomy, gave a press statement emphasizing the growth of EVs in Texas.

“The EV adoption rate in Texas signals to us that there’s even more demand for EVs and more of a need for alternative ways to access one,”  he said. “Today, Texas has more than 156,000 EVs on the road, with 22,122 in Travis County alone — the highest-ranking EV county in Texas. These numbers are encouraging, and we’re excited for Autonomy service to help boost EV adoption in the second-most-populous state in the country and increase EV adoption statewide.”

Austin has over 1,300 public EV chargers, with more than 500 new ones added within the last 90 days. Autonomy highlighted the city’s unique Austin Energy Plug-in EVerywhere network subscription plan that offers unlimited charging for $4.17 per month at any of its over 1,000 level 2 charging stations.

Advertisement

During a call with Teslarati on Wednesday, Scott Painter shared the types of EVs it will offer in Austin, along with a few additional details.

“Our fleet is predominantly Tesla Model 3s, and we have a couple of Modely Ys. Right now, we’ve got just under 2,000 cars in total in the fleet, and I think it’s about 100 Model Ys.”

“In the first quarter, we’re going to be adding VinFast, as well as Mercedes and Polestar. Those three brands are going to become part of the lineup in all of our markets.”

Scott added that he and the team at Autonomy were excited about Austin, specifically.

“Austin has a much bigger rate of EV registration rateably than everywhere else in Texas. Everywhere else in the country is sort of at about one or two percent that people are getting EVs. In Austin, it’s almost 10%.”

Advertisement

He added that it’s about 20% in California, but Austin and Miami are the top two cities in terms of EV registrations as a rateable number relative to non-electric vehicles.

We asked if Tesla’s move to Austin played any role in Autonomy’s decision to launch in Austin. Scott pointed out that although it did not, Tesla’s move probably played a key role in Austin’s EV registrations going up.

“Our decision was purely based on the evidence of EV registrations. I’m sure that EV registrations in Austin were influenced by Tesla’s decision to headquarter there. I think Austin feels like it owns Elon now, so, people who live in Austin feel like they should be driving the local car,” he said.

“But we’re simply making decisions based on really rational evidence that says this is the time to go to Austin.”

Scott emphasized the affordability of driving an EV versus a traditional internal combustion engine vehicle.

Advertisement

“I think that we could have never anticipated the kind of tailwinds that we’re seeing right now for going electric. Certainly, when gas prices go above four or five dollars a gallon, it’s undeniable. You should be driving an electric car.”

Scott noted that one could drive the same amount of miles for around one-eighth the price.

“The average American currently still gets 20 miles to the gallon and drives 1,000 miles per month. That means they’re putting $4,000+ per year into their car versus $800 per year for the same miles even in a state like California where we pay almost 20 cents a kWh for electricity.”

He also pointed out that Autonomy fills in the gaps where the cost of buying a new car, especially an EV, is becoming “unreachable” for many Americans. He also noted that many people are holding off on buying an EV because of the Inflation Reduction Act and tax credits.

“Everyone sort of thinks that, ‘I’ll just wait until the tax credit is there.’ Well, to qualify for the tax credit, you have to make a certain amount of money, and you have to buy a car that has a certain amount of all American-made products in it. So Tesla would normally fully qualify, but some of these new entrants don’t.”

Advertisement

Scott explained that as a fleet operator, Autonomy qualifies for all of it and is able to pass along those savings.

Disclosure: Johnna is a $TSLA shareholder and believes in Tesla’s mission.  

Your feedback is welcome. If you have any comments or concerns or see a typo, you can email me at johnna@teslarati.com. You can also reach me on Twitter at @JohnnaCrider1.

Teslarati is now on TikTok. Follow us for interactive news & more. Teslarati is now on TikTok. Follow us for interactive news & more. You can also follow Teslarati on LinkedInTwitter, Instagram, and Facebook.

Advertisement
Advertisement
Comments

News

Nvidia CEO Jensen Huang regrets not investing more in Elon Musk’s xAI

The CEO stated that Nvidia is already an investor in xAI, but he wished he had given the artificial intelligence startup more money.

Published

on

Credit: Elon Musk/X

Nvidia CEO Jensen Huang revealed that one of his investment regrets is not putting more money into Elon Musk’s artificial intelligence startup, xAI. 

Speaking in a CNBC interview, Huang said Nvidia is already an investor in xAI but wished he had given the artificial intelligence startup more money. This was due to Musk’s record of building transformative companies such as Tesla and SpaceX.

A new wave of transformative AI firms

Huang said he’s very excited about xAI’s latest financing round. He described Musk’s company as part of a powerful new generation of AI developers, alongside OpenAI and Anthropic. that are reshaping the computing landscape.

“I’m super excited about the financing opportunity they’re doing. The only regret I have about xAI, we’re an investor already, is that I didn’t give him more money. You know almost everything that Elon’s pat of, you really want to be part of as well,” the Nvidia CEO stated.

The CEO also clarified Nvidia’s investment in xAI, revealing that Elon Musk had offered the investment opportunity to the chipmaker. “He (Musk) gave us the opportunity to invest in xAI. I’m just delighted by that,” Huang stated.

Advertisement

AI investment boom

Huang contrasted today’s AI-driven economy with the early days of the internet. “Back then, all the internet companies combined were maybe $30 or $40 billion in size,” he said. “If you look at the hyperscalers now, that’s about $2.5 trillion of business already operating today.”

He also stated that the ongoing shift from CPU-based computing to GPU-powered generative AI represents a “multi-trillion-dollar buildout” that Nvidia is looking to support. Huang added that every Nvidia engineer now works with AI coding assistants such as Cursor, which he called his “favorite enterprise AI service,” and it has led to a major productivity boost across the company.

Watch Nvidia CEO Jensen Huang’s CNBC interview in the video below.

Continue Reading

Investor's Corner

Stifel raises Tesla price target by 9.8% over FSD, Robotaxi advancements

Stifel also maintained a “Buy” rating for the electric vehicle maker.

Published

on

Credit: Tesla China

Investment firm Stifel has raised its price target for Tesla (NASDAQ:TSLA) shares to $483 from $440 over increased confidence in the company’s self-driving and Robotaxi programs. The new price target suggests an 11.5% upside from Tesla’s closing price on Tuesday.

Stifel also maintained a “Buy” rating despite acknowledging that Tesla’s timeline for fully unsupervised driving may be ambitious.

Building confidence

In a note to clients, Stifel stated that it believes “Tesla is making progress with modest advancements in its Robotaxi network and FSD,” as noted in a report from Investing.com. The firm expects unsupervised FSD to become available for personal use in the U.S. by the end of 2025, with a wider ride-hailing rollout potentially covering half of the U.S. population by year-end.

Stifel also noted that Tesla’s Robotaxi fleet could expand from “tiny to gigantic” within a short time frame, possibly making a material financial impact to the company by late 2026. The firm views Tesla’s vision-based approach to autonomy as central to this long-term growth, suggesting that continued advancements could unlock new revenue streams across both consumer and mobility sectors.

https://twitter.com/AIStockSavvy/status/1975893527344345556

Tesla’s FSD goals still ambitious

While Stifel’s tone remains optimistic, the firm’s analysts acknowledged that Tesla’s aggressive autonomy timeline may face execution challenges. The note described the 2025 unsupervised FSD target as “a stretch,” though still achievable in the medium term.

Advertisement

“We believe Tesla is making progress with modest advancements in its Robotaxi network and FSD. The company has high expectations for its camera-based approach including; 1) Unsupervised FSD to be available for personal use in the United States by year-end 2025, which appears to be a stretch but seems more likely in the medium term; 2) that it will ‘probably have ride hailing in probably half of the populations of the U.S. by the end of the year’,” the firm noted.

Continue Reading

News

Tesla Cybertruck’s Full Self-Driving update is ‘coming soon’

Published

on

Tesla Cybertruck owners are wondering when they will get access to the company’s Full Self-Driving version 14.1 that rolled out to other owners today for the first time.

Cybertruck owners typically receive Full Self-Driving updates slightly later than other drivers, as the process for the all-electric pickup is different. It is a larger vehicle that requires some additional attention from Tesla before FSD versions are rolled out, so they will be slightly delayed. CEO Elon Musk said the all-wheel steering technically requires a bit more attention before rollout as well.

After some owners got access to the v14.1 Full Self-Driving suite this morning, Cybertruck owners sought out a potential timeframe for when they would be able to experience things for themselves.

Tesla owners show off improvements with new Full Self-Driving v14 rollout

They were able to get an answer from Ashok Elluswamy, Tesla’s Head of AI, who said:

“We got you. Coming soon.”

The release of FSD v14.1 for Cybertruck will not be tempered, either. Elluswamy then confirmed that Tesla would be rolling out the full-featured FSD v14 for the pickup, meaning it would be able to reverse and park itself, among other features.

Elluswamy said it would be capable of these features, which were void in other FSD releases for Cybertruck in the past.

Tesla’s rollout of FSD v14.1 brings several extremely notable changes and improvements to the suite, including more refined operation in parking garages, a new ability to choose parking preferences upon arriving at your destination, a new driving mode called “Sloth,” which is even more reserved than “Chill,” and general operational improvements.

Those who were lucky enough to receive the suite have already started showing off the improvements, and they definitely seem to be a step up from what v13’s more recent versions were capable of.

CEO Elon Musk called v14 “sentient” a few weeks back, and it seems that it is moving toward that. However, he did state that additional releases with more capabilities would be available in the coming weeks, but many owners are still waiting for this first version.

Continue Reading

Trending