Charge + OCBC Bank Partners Offer Free Vehicle Collection Loans and Low Interest Loans

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Self-produced electric vehicle charging operator (EV) Load + announced today (June 3) its partnership with OCBC Bank to offer a comprehensive charging solution and financing package for Tesla (EV) electric vehicle buyers in Singapore.

Within the package, Tesla buyers can expect up to 18 months of free charging and 1.68% low-interest electric vehicle loans.

This January, Charge + and OCBC signed a Memorandum of Understanding (MOU) to boost Charge + ’s plans to install 10,000 EV recharging points across the island by 2030.

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

For the condo segment, Charge + has grown rapidly to become a leading provider of cargo business as a service.

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

Based on this boost, Charge + will provide 18 months of free charging credits to Tesla buyers if their charging station is installed in the home of the buyer’s owner.

Tesla buyers living on landed property can look forward to receiving a free EV charger, beyond the six-month free credit charge.

Regardless of whether the EV buyer lives in HDB, condominiums, or landed homes, accessibility to a convenient charge is an important consideration.

We believe our package will go a long way in addressing the concern of heavy vehicle recharging by potential electric vehicle buyers and will contribute to Singapore’s vision of phasing out conventional vehicles by 2040.

Goh Chee Kiong, CEO of Charge +

In close collaboration with Charge +, OCBC Bank offers a loan for Eco-Care cars, at a price of 1.68%, to support the first adopters of electric vehicles.

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

In early January 2021, OCBC Bank also launched a pre-approved car loan (PAL), meaning any potential car buyer can apply online and get approval instantly.

“With an attractive interest rate for OCBC Eco-Care car loan and also teamed up with Charge + to grant free charge credits, Tesla customers now have a full package of financing and collection solutions to further enhance their shopping experience, ”said Sunny Quek, head of Consumer Financial Services Singapore, OCBC Bank.


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Featured Image Credit: Charge + / Forbes





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