• Business Business

Company rolls out surprising 'subscription service' for leasing a new vehicle: 'It's like Airbnb for cars'

The company will feature a unique business model.

Lynk & Co. Electric Vehicle

Photo Credit: Lynkco

Electric vehicles (EVs) are gaining popularity in the U.S., and high-end car brand Lynk & Co is hopping on the trend with the debut of its first EV — one that has all the benefits of electric vehicles with the added bonus of unique leasing and purchasing options. 

Lynk & Co, from the auto company Geely Group based out of China, will be entering the U.S. market with this vehicle, having previously launched its hybrid model in other areas of the world. 

What makes EVs unique is their use of battery power instead of gas — the car doesn't require anything except electricity to run, and instead of stopping at the gas pump, you just have to charge the battery at home or a charging station.  

The company will also feature a unique business model — a subscription approach that charges a monthly fee to cover all maintenance, insurance, and road tax specific to EVs. 

Additionally, this approach is extended to rentals and leased cars, with the flexibility to keep the car for a few months or just one and the opportunity to share it with other Lynk & Co. drivers to cut the cost of the rental. Additionally, after you have the car for a year, it will automatically get replaced. 

"It's like Airbnb for cars," says Brett Berk from Car and Driver. 

Why should I bother with an electric car? 

The unique model that Lynk & Co offers is a great option for some families — it takes away the stress of unexpected bills when the car breaks down or needs a tune-up. 

Plus, EVs are more cost-efficient. In California, it costs roughly half the price to charge an electric car to go the same distance as a gasoline-powered car. There's also growing availability for charging stations and some federal monetary incentives. 

EVs are also much better for the environment — they don't produce planet-warming air pollution like gasoline-powered. 

Pollution from vehicles contributes to a variety of illnesses, including cardiovascular diseases, cancer, and respiratory illnesses. Net-zero America reports that an estimated 170,000 premature deaths can be avoided by 2050 with a switch to all-electric vehicles

While this may seem like a lofty goal, the addition of EVs will at least improve air quality and save on gas money, and companies like Lynk & Co are offering unique options to experience them. 

Join our free newsletter for cool news and actionable info that makes it easy to help yourself while helping the planet.

Cool Divider