DriveItAway Holdings, Inc (OTCQB: CLCN) Partners with CarVision to Roll Out More Polestar 2 EVs

Rhea-AI Summary

DriveItAway Holdings, Inc. (OTCQB: CLCN) has partnered with CarVision to introduce an innovative subscription to ownership program for the Polestar 2 electric vehicle in the greater Philadelphia/New Jersey area. This program offers consumers a unique “try it before you buy it” experience, allowing potential buyers to drive the EV before committing to a purchase. The initiative aims to reduce barriers to electric vehicle adoption by catering to those hesitant about the initial costs or suitability of EVs. DriveItAway plans to expand this offering to various electric vehicle models across the U.S.

Positive

• Launch of a subscription to ownership program for the Polestar 2 EV, promoting accessibility to electric vehicles.
• Partnership with CarVision enhances market reach and visibility in the greater Philadelphia/New Jersey area.
• The program targets 'EV curious' consumers, potentially increasing market penetration.
• Plans to expand the electric vehicle offering beyond Polestar 2 to include a broader range of models.

Negative

• None.

Along with Other Premium Luxury Vehicles for Sale, Now First-of-its-kind “try it before you buy it” subscription to ownership program with Polestar 2 is Offered

“We are delighted to work with CarVision to expand our subscription to ownership program in the greater Philadelphia/New Jersey marketplace with the new Polestar 2 EV.” John F. Possumato, Founder & CEO, DriveItAway Holdings Inc.

PHILADELPHIA, June 24, 2022 (GLOBE NEWSWIRE) -- DriveItAway Holdings, Inc. (“DriveItAway”) (OTCQB: CLCN), the industry leader in automotive dealer new mobility platforms with its revolutionary subscription to purchase technology, founded by serial auto retail entrepreneur John F. Possumato, continues to roll out its unique electric vehicle subscription to ownership program with the Polestar 2, now partnering with the CarVision dealer group to bring its alternative approach to car buying to a wider audience.

“Automotive retailers have always been our partners, and we originally created our unique subscription to ownership technology as a platform for dealer vehicles,” says John F. Possumato, Founder & CEO of DriveItAway, “so it’s only natural, as we introduce our new EV ‘drive it, love it, buy it’ program that we partner with select retailers to scale our unique offering, we think, most suitable for those who are curious about buying an EV, but want to drive one for a while before making a purchase commitment. We are delighted to work with CarVision to expand our subscription to ownership program in the greater Philadelphia/New Jersey marketplace with the new Polestar 2 EV.”

“From the day we started, we at CarVision have been working with passion to innovate and offer the best quality vehicles at the best quality prices,” says Dean Cafiero, Owner & President of CarVision dealer group, “we are very pleased to work with the DriveItAway team and their subscription to ownership platform for Polestar 2 vehicles, as it allows us to offer new innovation in EV vehicle usage and ownership. We always like to be ahead of the pack in offering customer pleasing new services.”

The DriveItAway program provides an “infinite test drive” to full range of consumers, from entry level to luxury buyers, to satisfy a market that is "EV curious" but does not want to make an immediate commitment to purchase. The driver has the right, but not the obligation, to buy the vehicle he or she is driving, with money paid in given back as a bonus coupon towards the purchase.

DriveItAway Subscription with Optional Purchase, the Program for US EV Adoption

DriveItAway’s EV subscription program, is now starting in the greater Philadelphia/New Jersey area with the Polestar 2, but will soon offer a full range of EVs, including Chevrolet Bolt/Bolt EUVs, Nissan Leafs and even Ford Escape Plug In Hybrids, throughout the United States. DriveItAway’s unique ‘EVs for Everyone’ program is the perfect “vehicle” to reduce the barriers to EV adoption for all drivers, perfect for people who are interested in an EV, but are put off by the higher initial cost as compared to a gas vehicle or are concerned about suitability and range anxiety.

About DriveItAway

DriveItAway is the first national dealer focused mobility platform that enables car dealers to sell more vehicles in a seamless way through eCommerce, with its exclusive “Pay as You Go” app-based subscription program. DriveItAway provides a comprehensive turn-key, solutions driven program with proprietary mobile technology and driver app, insurance coverages and training to get dealerships up and running quickly and profitably in emerging online sales opportunities. The company is now introducing its ‘subscription to ownership’ platform to enable all consumers to drive and acquire new Electric Vehicles with its “EVs for Everyone” initiative.  For further information, please see www.driveitaway.com.

Cautionary Statement 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 concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of 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 significantly from those expressed in any forward-looking statement. All forward-looking statements reflect our good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. We caution investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release. 

CONTACT INFORMATION:
DriveItAway Holdings, Inc.
John F. Possumato
john@driveitaway.com

For further information, please see:
www.driveitaway.com

FAQ

What is the new subscription program offered by DriveItAway for the Polestar 2?

DriveItAway has introduced a subscription to ownership program for the Polestar 2, allowing consumers to drive the vehicle before committing to purchase.

When was the DriveItAway and CarVision partnership announced?

The partnership was announced on June 24, 2022.

What are the benefits of the DriveItAway program for potential EV buyers?

The program offers an 'infinite test drive' experience, enabling consumers to experience an EV without immediate purchase commitment.

What other electric vehicles will DriveItAway offer in its program?

DriveItAway plans to expand its offerings to include vehicles like Chevrolet Bolt, Nissan Leafs, and Ford Escape Plug-In Hybrids.

How does the DriveItAway subscription program support EV adoption?

The program reduces financial barriers for consumers by allowing them to drive an EV without a large upfront cost and with the option to purchase later.