By Ethan Baron
Despite Tesla’s promises, (click here) a widely available and more-affordable car from the high-end electric vehicle company has yet to appear, leaving would-be owners empty handed.
Now San Francisco startup Kyte, with $39 million in funding and $200 million in credit financing, aims to satisfy some of the demand. However, there’s a catch: You can have a Model 3 sedan, but you don’t get to keep it.
Beginning in two weeks, if all goes according to plan, motorists in San Francisco and a swath of the East Bay between El Cerrito and Alameda will be able to get their hands on a Model 3 via a “subscription” and no down payment. Even upon the April 15 launch, customers in the South Bay, other areas of the East Bay and on the Peninsula will be considered on a case-by-case basis, Kyte said, and the company aims to expand its service area to more of the Bay Area.
Options are available for terms and prices: three months for $1,350 per month; six months for $1,125 per month; or a year for $995 per month. Subscribers get 1,000 miles per month, and can add miles for an extra fee. An optional collision waiver adds $250 per month, and there’s a $299 one-time start-up fee....
