DALLAS, Jan. 4, 2022 /PRNewswire/ — Alto, a pioneer in mobility and the world’s largest on-demand, employee-based rideshare company, is announcing its plan to become the nation’s first vertically integrated 100-percent electric ride-hail fleet with over 3,000 electric vehicles (EVs) by the end of 2023. Alto is in discussions with top EV manufacturers to begin the process of transitioning Alto’s owned and operated fleet to EVs. Simultaneously, Alto is planning a buildout of a network of owned EV facilities offering a full-fleet solution for its EV ridesharing operation, including DC fast charging, vehicle cleaning and maintenance and driver lounge facilities. Read more about Alto’s EV plan and vertically integrated solution at https://www.ridealto.com/ev.
Alto is also announcing its expansion into Washington DC later this month and into Silicon Valley in January 2022. The expansion follows Alto’s $45 million Series B fundraise this summer. Alto has grown 700 percent in the past year and currently operates in Los Angeles, Houston, Miami, and Dallas.
An example of this fast-paced growth is Alto’s recent expansions into Miami, Florida in late September and Los Angeles earlier this year, the company’s first two market launches outside of Texas. In Los Angeles, Alto has completed more than 50,000 rides in less than a year of launching, and in both markets Alto is on track to employ over 400 drivers in these cities’ first year of operation.
To support upcoming market launches, Alto has placed an order for 600 luxury SUVs – tripling the company’s fleet size. This order will bring more than 1,000 Altos to the road by the end of Q3 2022.
"Alto is growing faster than ever before, and it’s an exciting time to bring a safe, elevated rideshare experience to more passengers across the country. The future of ridesharing is electric fleets with employee drivers, and our expansion and continued growth into new markets are important steps in helping us bring this vision to life," said Alto CEO Will Coleman.
Alto is proud to be the most forward thinking company in the mobility industry. Alto is offering a more safe, consistent, and elevated experience to passengers in these markets, and eventually to more markets nationwide. Alto is shaping the future of the mobility industry and achieving consumers’ trust through its differentiated business model: owning and operating the fleet and employing the drivers. Alto drivers are classified as W-2 employees who are rigorously vetted, have access to traditional worker benefits, and complete a driver training program.
"We’re excited to offer our service in an innovative market like Silicon Valley and our nation’s capital. Alto is leading the mobility industry in fleet electrification and infrastructure as well as elevating the rideshare experience," added Coleman.
Founded in 2018, Alto is the first employee-based rideshare company rethinking a traditionally inconsistent, gig-based industry. By hiring vetted, professional drivers and managing a dedicated fleet of 5-star crash rated luxury vehicles, Alto offers the safest, most consistent, and most personalized passenger experience on the market today. Alto classifies its drivers as W-2 employees, provides in-depth training, manages its owned vehicle fleet, and brings advanced logistics and optimization to the ridesharing ecosystem. Currently available in Dallas and Fort Worth, Houston, Los Angeles, and Miami, Alto has plans to bring its elevated rideshare experience to even more cities in the future. For more information, visit www.ridealto.com.
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