The Best Ways To Play The Electric Vehicle Boom - Seite 2

There was minimal flexibility in this market until the advent of subscriptions.And there were very few carbon-offset subscription options for that rapidly growing lineup of new EVs… until Steer.

Steer is one of the answers to the last remaining hurdle of full-on adoption of EVs: cost and charging technology. A subscription to Steer comes with your own concierge who delivers your car wherever you need it and assists with charging, either at home or on the road.

With Steer, members get their own virtual gallery to fit various budgets, including everything from the Audi e-Tron and the Hyundai Kona to your favorite Tesla, and beyond. And the growth runways are excellent when you consider that 70% of Steer members have never even driven an EV before. That means that these are new converts.

The Next Phase of Change

Facedrive (FD; FDVRF) acquired Steer from Exelon (EXC) in a deal that included a $2-million strategic investment by energy giant Exelon's wholly-owned subsidiary, Exelorate Enterprises, LLC.Together, they could pose a positive challenge to an auto industry that's already trying to adapt to the changing EV industry. And the leaders are emerging as those who can do two things: tie their business into the "ESG megatrend", where big money is starting to flow; and understand what today's market wants: on-demand service and dynamic options.

Steer's seamless, hassle-free technology and its lineup of hot EVs do both. It's what some are calling a Netflix style of new car use. In the meantime, Facedrive is all about clean, tech-driven verticals, and Steer is just one. Facedrive recognized the need for a big energy-related lifestyle change long before it became a "trend".

It was developing an answer to the pollution of companies like Uber and Lyft way back in 2016 and launched the first carbon-offset ride-sharing platform in 2019 in Canada, giving riders a choice of EV or hybrid and planting trees in cooperation with local authorities along the way.

Today, in the name of corporate responsibility in a time of pandemic, Facedrive is focusing more aggressively on Steer, carbon-offset food and pharma deliveries, and TraceSCAN, the Ontario government-backed COVID contact-tracing wearable technology that is aiming for rapid manufacture and deployment to help enable essential workers to get back on the job - safely - and in turn to help enable the economy to reopen, and stay open.