Tenet and Getaround Partner to Accelerate Electric Vehicle Adoption for Business Owners
27 Aprile 2023 - 9:36PM
Business Wire
EV-Specific Financing From Tenet Helps
Getaround’s Entrepreneurs Drive Electric for Less, Supports
Carsharing Platform’s Goal for All-Electric Fleet By 2040
Tenet Energy Inc. (“Tenet”), a leading climate-financing
platform, announced today that it has partnered with Getaround
(NYSE:GETR), the world’s first connected carsharing marketplace, to
help individual commercial fleet owners finance electric vehicles
(EVs). With the new partnership, Tenet now offers Getaround hosts
(car and fleet owners) innovative financing options that make
owning an EV simple and more affordable. Through this
first-of-its-kind program, Getaround hosts can take advantage of
Tenet’s EV-specific loan, offering onboarding bonuses ranging up to
$1,700 per vehicle. For example, individuals financing a maximum of
six vehicles through Tenet are eligible for up to $10,200 in
bonuses.
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Getaround’s carsharing marketplace provides economic opportunity
to local communities by allowing individuals to list their car on
the platform and earn supplemental income by making it available to
rent by the hour, day, or multiple weeks. Tenet’s digital loan
product addresses a specific market need for EV lending options for
private individuals that use carsharing platforms, such as
Getaround, to earn revenues. Through its direct integration with
Getaround’s carsharing marketplace, Tenet offers individual hosts a
convenient way to finance multiple EVs over time. In addition to
unique EV attributes, including government tax incentives and high
lifetime value, Tenet considers utilization and program revenues in
its underwriting to offer Getaround’s EV hosts competitive
financing rates. Tenet has worked with its insurance and warranty
providers to allow vehicle-sharing usage and Getaround hosts to
finance through their LLCs, when applicable.
Getaround offers new hosts an onboarding bonus of up to $1,200
per eligible car. To advance the company’s pledge to host only EVs
on its platform by 2040, an additional $500 will be made available
for hosts that choose to finance their EV through Tenet and list on
the Getaround platform, regardless of market or zip code. A
touchstone in the company’s mission to make cities and communities
more sustainable through carsharing, this pledge aims to help
reduce pollution and greenhouse gas emissions attributed to
individual car usage by promoting the widespread sharing of EVs,
particularly in dense urban areas. Together, Getaround and Tenet
are making it easy to secure competitive EV financing options, and
enable a greater number of carsharing hosts to make more
sustainable purchases.
“Affordability is the number one hurdle to mainstream EV
adoption,” said Alex Liegl, founder and CEO of Tenet. “In spite of
price wars and federal tax incentives, still only about 15% of U.S.
drivers can afford an EV. Until lower-priced models hit the road,
our partnership with Getaround will help accelerate adoption by
incentivizing and making it easy for carsharing hosts to go
electric, while also enabling them to grow their businesses faster
and more affordably. By making more EVs available on Getaround’s
platform, we’re also creating more opportunities for users to test
drive EVs before purchasing one of their own.”
“Most privately owned cars are on the move for only 6 hours per
week, and are parked or idle for the remaining 162 hours. By using
Getaround, people can share their car when they are not using it,
leading the shift away from traditional conceptions of car
ownership altogether, resulting in fewer cars on the road, less
traffic and less pollution,” said Sy Fahimi, Chief Operating
Officer at Getaround. “By offering differentiated solutions to our
customers, like Tenet’s innovative financing offering, we are
enabling our hosts to grow their fleets while helping grow our EV
footprint nationally, electrify future fleets, and ensure Getaround
continues to play a key role in advancing the transition to clean
energy.”
Beginning with EV car loans for consumers and commercial
businesses, Tenet’s financing platform is designed to accelerate
the mainstream adoption of electrification technologies by making
them more affordable and accessible. Tenet integrates the Inflation
Reduction Act’s (“IRA”) clean vehicle tax credits and other
government incentives and EVs’ high residual value to help EV
drivers save up to $200 per month on their loan payments. With
Tenet, EV drivers may defer a percentage of their loan until the
end of their terms, making it possible to take advantage of the IRA
tax credit now, rather than having to wait to receive the IRS
rebate.
The program launched in April of this year and is now available
for any eligible car on Getaround’s platform. For more information
about how to participate, please visit:
tenet.com/partner/getaround/?utm_source=getaround&utm_medium=partner&utm_campaign=email.
About Tenet Tenet makes it easier than ever to finance
renewable energy assets, starting with EVs. Through its innovative,
climate-focused financial ecosystem designed to accelerate the
mainstream adoption of electrification technologies, Tenet
leverages the unique technical and financial attributes of EVs,
chargers, and heat pumps, among other technologies, to offer lower
monthly payments for consumers and businesses. Tenet connects EV
drivers and fleet owners with better loan terms from financial
institutions, conveniently through the company’s website or
dashboard as well as through its partners' platforms. For more
information, visit www.tenet.com. Join the conversation on:
Twitter, Facebook, LinkedIn, Instagram, and TikTok.
About Getaround Offering a 100% digital experience,
Getaround makes sharing cars and trucks simple through its
proprietary cloud and in-car Connect® technology. The company
empowers consumers to shift away from car ownership through instant
and convenient access to desirable, affordable, and safe cars from
entrepreneurial hosts. Getaround’s on-demand technology enables a
contactless experience — no waiting in line at a car rental
facility, manually completing paperwork, or meeting anyone to
collect or drop off car keys. Getaround’s mission is to utilize its
peer-to-peer marketplace to help solve some of the most pressing
challenges facing the world today, including environmental
sustainability and access to economic opportunity. Launched in
2011, Getaround is available today in more than 1,000 cities across
the United States and Europe. For more information, please visit
www.getaround.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230426005298/en/
Media: Tori Bentkover tenet@antennagroup.com
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