Borrow is seeking to change the way people access electric vehicles.
More and more folks are weary of long lease terms and desire a more pay for service type set up. Borrow sees that opening and is laser focused on filling that need.
Borrow’s fundamental goal is to make an EV experience that is accessible and tailored to the consumer. They fill that middle ground between the locked-in feeling of a long term lease and the sky high price tag associated with daily ride sharing.
Using Borrow is as simple as 1, 2, 3. Simply choose your car and terms (3, 6, or 9 month lease), nail down the specifics of your subscription, and then pick up your car and hit the open road.
The Future of Borrow
Having achieved a successful proof of concept in the LA area, Borrow seeks to expand their territory. They seek to take their four tier subscription model (outlined below) to a city near you.
What Interested Investors Need to Know
Three things that investors should take note of:
- Interest: Borrow has 2k+ people on their waiting list to join their service.
- Hitting the sweet spot: Bringing EVs to the middle market between long term leases and daily ride shares.
- The future of the market: Research shows that by 2025 an EV will be purchased every 21 seconds.