DriveItAway Holdings, Inc (OTC – GuruFocus.com

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“While we are focused on enabling entry-level electric vehicles, we recognize that there is currently demand for our quick and easy subscription with an optional ownership program for luxury cars like the Polestar 2” , John F. Possumato, Founder and CEO, DriveItAway Holdings Inc. .

PHILADELPHIA, June 01, 2022 (GLOBE NEWSWIRE) — DriveItAway Holdings, Inc. (“DriveItAway”) (CLCN), the industry leader in new mobility platforms for automotive dealerships with its revolutionary subscription-to-purchase technology, founded by serial automotive retail entrepreneur, John F. Possumato, has launched an electric vehicle ownership subscription program with the Polestar 2, for anyone who wants to drive and test drive a new luxury electric vehicle before to commit to buying it.

“We’ve found that many people are hesitant to commit to buying a brand new electric vehicle,” says John F. Possumato, Founder and CEO of DriveItAway. “We designed the program so that anyone can immediately drive a Polestar 2 with no purchase commitment, quickly, easily and inexpensively with the vehicle subscription fully managed through our mobile app. Turnkey and comprehensive, our program includes insurance, maintenance and delivery right to your door, and, only with our unique program, a portion of the subscription fee is allocated to the purchase price, if you choose to purchase the vehicle.

The DriveItAway program offers new EV manufacturers and legacy OEMs a new distribution channel for their vehicles, as it offers an “infinite test drive” to a full range of consumers, from entry-level buyers to luxury buyers , to satisfy a market that is “curious about electric vehicles”. ” but does not wish to commit to a purchase immediately. The driver has the right, but not the obligation, to buy the vehicle he is driving, with the money paid, returned in the form of a bonus coupon purchase.

User experiences – Law for the environment and personal finances

Elena Ciccotelli, head of automotive partnerships at Lyft, who recently chose a new DriveItAway Polestar 2 under the program, also found an added benefit to the process. “Used car values ​​are very high right now, so I was eager to sell my used car for the best price,” Ciccotelli says, “but I didn’t want to buy a new vehicle right now during the shortage of cars, with a limited selection and high prices; Additionally, I strongly support Lyft’s commitment to be 100% EV by 2030, so I’ve made a commitment that my next vehicle will be a zero EV emission. “

Ciccotelli adds: “The DriveItAway app ticked all the boxes, it immediately gives me a new Polestar 2 EV, with no commitment, to drive as long as I want, with the option to buy with the money I have. paid – it really seems like the best of everything, and gave me the opportunity to sell my used car for the best price today – it’s a great way to go green by going green.

Drive without car debt or long-term obligations

Matthew DeSantis, a recent college graduate, had a different but similar way of being both environmentally and financially responsible. “My education was expensive and I have a lot of student debt, so even though I need a car right now to get to work, the last thing I need is more debt to buy a car. , especially today with the current record high prices,” says DeSantis. “At the same time, I wanted to go green because zero emissions is important to me.” DeSantis confirms, “DriveItAway was the best alternative with no long-term financial commitment. – perfect for me.”

DriveItAway subscription with optional purchase, the electric vehicle adoption program in the United States

DriveItAway’s EV subscription program kicks off now in the greater Philadelphia/New Jersey area with the Polestar 2, but will soon feature a full line of EVs, including Chevrolet Bolts/Bolt EUVs, Nissan Leafs and even Ford Escape Plug In Hybrids, everywhere in the United States. states. DriveItAway’s unique ‘EVs for Everyone’ program is the perfect ‘vehicle’ to reduce barriers to EV adoption for all drivers, perfect for people who are interested in an EV but are put off by the upfront cost higher compared to a gasoline vehicle. or are concerned about adequacy and range anxiety.

“The future is zero-emission vehicles,” Possumato concludes, “and the future of consumer EV adoption is powered by flexible subscription with optional ownership, with paid money applied toward purchase .”

About DriveItAway

DriveItAway is the nation’s first dealer-focused mobility platform that enables car dealerships to sell more vehicles seamlessly through e-commerce, with its exclusive app-based “Pay as You Go” subscription program . DriveItAway offers a comprehensive, turnkey, solutions-focused program with proprietary mobile technology and driver app, insurance coverages and training to enable dealerships to quickly and profitably operate in online sales opportunities. emerging line. The company is today launching its “ownership subscription” platform to enable all consumers to drive and acquire new electric vehicles with its “EVs for Everyone” initiative. For more information, please visit www.driveitaway.com.

Caution Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions regarding matters that are not historical facts. In some cases, you can identify forward-looking statements by using forward-looking words such as “may”, “will”, “should”, “expect”, “intend”, “anticipate”, “anticipate “, “believes”, “estimates”, “predicts” or “potential” or the negative of these words and expressions or similar words or expressions which are predictions or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ materially from those expressed in any forward-looking statement. forward-looking statements reflect our good faith beliefs, assumptions and expectations, but are not guarantees of future performance. We caution investors not to place undue reliance ent to forward-looking statements. Forward-looking statements speak only as of the date of this press release.

CONTACT INFORMATION:

DriveItAway Holdings, Inc.

John F. Possumato

[email protected]

For more information, please see:

www.driveitaway.com

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