Charge+ partners OCBC Bank to offer free EV charging, low-interest loans

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

Under this program, Tesla buyers can expect up to 18 months of free recharge and EV loans at a low interest rate of 1.68%.

Last January, Charge + and OCBC signed a Memorandum of Understanding (MOU) to strengthen Charge + plans to install 10,000 EV charging points across the island by 2030.

These charging points will be installed in subdivisions, condominiums, commercial and industrial properties. Tesla buyers get a free recharge period at Charge + charging points for a minimum period of six months, which can be extended up to 18 months.

For the condominium segment, Charge + has grown rapidly to become one of the leading commercial bill-as-a-service providers.

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

Building on this momentum, Charge + will offer 18 months of free charging credits to Tesla buyers if its charging station is installed in the buyer’s condominium.

Tesla buyers who live in real estate can expect to receive a free EV charger, beyond the free six months of charging credits.

It doesn’t matter if the EV buyer lives in an HDB, condominium, or primary residence, accessibility to convenient charging is an important consideration.

We believe that our package will go a long way in solving the EV charging problems of potential EV buyers and contribute to Singapore’s vision to phase out conventional vehicles by 2040.

Goh Chee Kiong, CEO of Charge +

In close partnership with Charge +, OCBC Bank offers an Eco-Care car loan, at a price of 1.68%, to support the first users 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 Credit: Charge +

Earlier in January 2021, OCBC Bank also launched a Pre-Approved Auto Loan (PAL), which means any potential car buyer can apply online and get approved instantly.

“With an attractive interest rate for the OCBC Eco-Care car loan and also partnering with Charge + to provide free recharge credits, Tesla customers now have a full set of financing and recharging solutions. to make their shopping experience even better, ”said Sunny Quek, Singapore director of consumer financial services, OCBC Bank.


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Featured Image Credit: Charge + / Forbes

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