Cost+ companions OCBC Financial institution to supply free EV charging, low-interest loans

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Domestic charging operator Charge + today (June 3rd) announced its partnership with OCBC Bank to offer a holistic charging solution and financing package to Tesla electric vehicle (EV) buyers in Singapore.

As part of the package, Tesla buyers can expect up to 18 months of free charging and low-interest e-car loans of 1.68 percent.

In January of this year, Charge + and OCBC signed a Memorandum of Understanding (MOU) to support Charge +’s plans to install 10,000 electric vehicle charging points across the island by 2030.

These charging points are installed in residential areas, condominiums, commercial and industrial properties. Tesla buyers enjoy free charging time at Charge + charging points for a period of at least six months, which can be extended to up to 18 months.

For the condominium segment, Charge + has quickly grown into a leading provider of charging-as-a-service businesses.

As part of this model, Charge + will invest in, install and operate the charging stations in the condominiums. According to the company, it has attracted “strong interest from hundreds of condos”.

Building on this dynamic, Charge + Tesla will provide 18 months of free charging credits to buyers when the charging station is installed in the buyer’s condominium.

Tesla buyers who live in real estate can look forward to a free EV charger in addition to the free six months of charging credit.

Regardless of whether the electric vehicle buyer lives in HDB, condominiums or condominiums, accessibility to convenient charging is an important aspect.

We believe that our package will go a long way in addressing EV charging concerns among potential EV buyers and will contribute to Singapore’s vision of phasing out conventional vehicles by 2040.

Goh Chee Kiong, Charge + CEO

In close partnership with Charge +, OCBC Bank is offering an Eco-Care car loan at a price of 1.68 percent to support early adopters of electric vehicles.

Charge + OCBC bank
Sunny Quek (left) Head of Consumer Financial Services Singapore, OCBC Bank and Goh Chee Kiong (right) CEO, Charge + / Image source: Charge +

In early January 2021, OCBC Bank also launched a Pre-Approved Car Loan (PAL), which means any potential car buyer can apply online and get approval right away.

“With an attractive interest rate for the OCBC Eco-Care car loan and the collaboration with Charge + to issue free charging credits, Tesla customers now have a complete package of financing and charging solutions to make their shopping experience even better,” said Sunny Quek, Head of Consumer Financial Services Singapore, OCBC Bank.

Electric vehicles is an important pillar of content for Vulcan Post. The rest of our cryptocurrency coverage can be found here.

Featured image source: Charge + / Forbes

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