Facedrive’s Steer EV Subscription Service Launched in Toronto

Facedrive Inc. (“Facedrive” or the “Company”) (TSXV:FD) (OTCQX:FDVRF), a Canadian "people-and-planet first" tech ecosystem, is pleased to announce that the Company has successfully launched Steer, the Company’s electric vehicle (“EV”) subscription service in Toronto, Ontario, and delivered its first batch of vehicles to customers. Canadian consumers now have access to Steer’s innovative subscription-based Transportation as a Service (“TaaS”) business model. Originally launched in Washington, DC and currently operating with over 130 EV and plug-in hybrid electric vehicles (“PHEVs”), Facedrive has brought the platform home to Toronto, which will serve as the Canadian launch pad for Steer.

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Steer, a technology-driven EV/PHEV subscription platform, was acquired by Facedrive from Exelorate Enterprises LLC, a subsidiary of Exelon Corporation (NASDAQ:EXC), in September 2020. Incubated within and backed by Exelon, a Fortune 100 company and the largest producer of clean energy in the United States, Steer was created to challenge the traditional car purchase and ownership model and accelerate the general public’s switch over to environmentally friendly transportation through an automobile subscription service.

The official Steer App for Toronto has now been launched in IOS and Android app stores, making month-to-month subscriptions available to Torontonians. Steer’s all-in subscription price for an EV vehicle includes driver essentials such as insurance, routine maintenance and repair, and a concierge service that removes the hassle of car ownership and enables seamless vehicle swaps. In the first phase of the Toronto launch, Steer’s fleet consists of Tesla Model Y and Model 3 vehicles for the “Practical Member” tier and Tesla Model X and Model S vehicles for the “Premier Member” tier. The Toronto market response has already resulted in over 1,000 registrations to date, as well as a growing number of deposits from subscribing customers. Following this initial launch phase, Steer plans to scale up operations to expand across Canada and the USA. EV vehicle options are growing significantly on an annual basis, presenting Steer as the ideal solution for consumers to explore and select the EV vehicle that fits their lifestyle.