Carmakers could consider several alternative monetization strategies apart from subscription services. They could explore partnerships with other businesses, such as gas stations or insurance companies, to offer bundled services. They could also consider selling data generated by their vehicles to third parties. Additionally, they could develop proprietary technology or software and license it to other manufacturers. Finally, they could offer premium services or upgrades, such as advanced safety features or luxury add-ons, for an additional cost.
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While all of this is going on, however, we've started seeing news like these. Toyota to charge $8 a month for a key fob just to start your car. BMW to charge $18 a month for your heated seats. Tesla already charges $9.99 a month for connectivity features like music streaming and internet browsing. GM to aim for $25 billion in annual software and subscription revenue by 2023 On the grand scheme of things. The introduction of these subscription services might not be dominating the headlines right now, but this development could actually become as vital to carmakers' survival as their EV prowess.