STEER EV partners with Enterprise Fleet Management to order EVs.

STEER Holdings Inc., a wholly-owned subsidiary of Facedrive Inc., has entered into an agreement with Enterprise Fleet Management to lease over 1000 electric vehicles for its EV subscription business. The deal is expected to be valued between $80 and $150 million (USD).

The Toronto-based company is expanding its services to the US and believes this deal will help it grow in the USA. The Company intends to both add cars to existing operational hubs as well as to expand into new US markets that it has carefully selected.

The Company’s intended expansion comes within the context of growing public attention to climate change and increased governmental efforts to combat its effects which have, in general, spurred greater EV adoption.

At the same time, consumers are continuing to shift away from traditional car ownership models like leasing or financing in favor of trends such as subscription and shared solutions. With EVs anticipated to remain in tight supply for the foreseeable future1, the Company feels the Agreement positions it well to capitalize on this opportunity.

Suman Pushparajah, CEO of STEER EV, said: “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. 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. 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.”

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