Participated · Seed · Oct 2022

Zevvy offers a pay-by-the-mile lease product that lets drivers customize terms, pay a low monthly fee plus a few cents per mile, and avoid the high upfront cost or long-term commitment of traditional loans. Customers can return their EV at lease end, renew month-to-month, or buy the vehicle outright with mileage fees applied to the purchase price. The company completed a year-long pilot from San Francisco to Sacramento and reported a partnership with Uber that generated thousands of driver applications. Vehicles in Zevvy’s fleet average about 25,000 miles driven per year, and customers save hundreds of dollars monthly by avoiding fuel and maintenance on gas cars. Zevvy says the rebrand and capital will fund growth of its operational and technical capacities over the next year to expand access to thousands more drivers across California. The company’s mission focuses on EV affordability and serving high-mileage commuters and gig drivers who benefit most from electrification.