Rebuilding a cleaner transport sector after COVID with electric car subscriptions
London, 17th November 2020: elmo, a leading UK-based electric car subscription platform, today announces additional grant funding from Innovate UK’s Sustainable Innovation Fund.
The funds are to further develop the technology platform to allow the company to respond to a boom in demand for its flexible subscription service as consumer needs change following COVID-19.
What is elmo?
elmo is a rapidly growing player in the Mobility-as-a-Service sector and part of Tech Nation’s Net Zero cohort for the fastest growing companies tackling climate change in the UK.
The company offers customers flexible and net zero ‘total cost of ownership’ subscriptions for electric cars. Unlike other subscription offerings, elmo believe that customers should not have to pay a premium for flexibility, so their monthly rates are competitive with longer term leases.
At elmo, we believe that everyone should have access to safe and effective transport that’s sustainable for the planet and their wallet. We see elmo having a unique role to play as the UK builds back better following the COVID-pandemic. By providing people easier access to electric cars through our flexible subscriptions, we can support the growth of clean transport. We’re delighted to be among a cohort of ground-breaking clean-tech projects that have received funding, and the grant will help us to scale our services to meet the 90% increase in demand for our subscriptions we’ve seen since the onset of the coronavirus pandemic.
Oliver Jones | co-founder of elmo
“In these difficult times we have seen the best of British business innovation. The pandemic is not just a health emergency but one that impacts society and the economy. elmo and their all-inclusive electric car subscription offering, along with every initiative Innovate UK has supported through this fund, provide an important step forward in driving sustainable economic development. Each one is also helping to realise the ambitions of hard-working people.”
Dr Ian Campbell | Innovate UK Executive Chair
Innovate UK, as part of UK Research and Innovation, is investing up to £191 million to fund single and collaborative research and development projects as part of the Sustainable Innovation Fund over the next two years. The aim of these competitions is to help all sectors of the UK rebuild after the effects of COVID-19.