truecar

truecar

Autonomy—the Santa Monica-based automobile subscription platform until recently known as NextCar—is getting into electric vehicles via Tesla’s popular Model 3.

The startup, which provides customers monthly vehicle subscriptions for an all-in price that includes insurance and maintenance costs, said Thursday that it will offer the Tesla Model 3 as part of a range of electric and zero-emission vehicles. The company was launched in 2020 by former TrueCar CEO Scott Painter, and is currently in beta.

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Here are the latest headlines regarding how the novel coronavirus is impacting the Los Angeles startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for the latest updates.

Today:

  • Facing twin threats, TrueCar lays off 40 percent of staff
  • Netflix buys Hollywood's Egyptian Theatre to stage post-pandemic events, movie premieres

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TrueCar announced Tuesday that Mike Darrow, who has been the Santa Monica company's interim chief executive, now will take over the position on a permanent basis. Analysts say the move adds a measure of stability at a time when many on Wall Street saw it as a possible acquisition target.

Darrow has been with TrueCar for three years, and was put into the top leadership position after former president and CEO Chip Perry retired in May 2019. Prior to that, Darrow served as the company's executive vice president as well as head of TrueCar's ALG subsidiary.

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