STEER Holdings Inc., a wholly owned subsidiary of Facedrive Inc., an integrated ESG technology platform, has entered into an agreement with Enterprise Fleet Management to lease over 1,000 electric vehicles (EV) valued between $80 million and $150 million for its EV subscription business, STEER EV. The company intends to both add cars to existing operational hubs as well as to expand into new U.S. markets that it has carefully selected.
STEER EV was acquired by the company from a wholly owned subsidiary of Exelon Corp. in September 2020 to challenge traditional car ownership models and to facilitate transition to eco-friendly mobility solutions for individuals and businesses.
“We are very happy to partner with Enterprise Fleet Management. We believe we can make a real difference in the electric vehicle subscription space by continuing to expand this flexible, customer-centric, and environmentally conscious model to a wider market,” says Suman Pushparajah, CEO of STEER.
“The data we have collected, including from our recent launches in Texas and British Columbia, as well as preparations for the upcoming launch in Florida, has demonstrated a growing demand for a month-to-month all-inclusive subscription service,” continues Pushparajah. “With the help of this partnership with Enterprise Fleet Management, STEER is on track to fulfill demand and scale its fleet considerably in the months to come.”
