Charge+ partners OCBC Bank to offer holistic package for buyers of Tesla Electric Vehicles

Tesla buyers are eligible for up to 18 months of free charging and low-interest EV loans of 1.68%

Photo:

Mr Sunny Quek, Head of Consumer Financial Services Singapore, OCBC Bank (left)

Mr Goh Chee Kiong, CEO, Charge+ (right)

PRESS RELEASE

CHARGE+ PARTNERS OCBC BANK TO OFFER HOLISTIC PACKAGE FOR BUYERS OF TESLA ELECTRIC VEHICLES

Singapore, 3 June 2021 - Charge+, in partnership with OCBC Bank, has unveiled a holistic charging solution and financing package that comprises free charging credits and low-interest EV loans to support the buyers of Tesla electric vehicles (EVs) in Singapore.

Charge+ had earlier announced in 2020 the plans to implement 10,000 EV charging points across housing estates, condominiums, commercial and industrial properties in Singapore by 2030. Tesla buyers stand to enjoy a free charging period at Charge+ charging points for a minimum period of 6 months that can be extended to as many as 18 months.

For the condominium segment, Charge+ has grown rapidly to become the national leader in providing the Charging-as-a-Service business model, in which Charge+ will invest in, install and operate the charging station in the condominiums. This game-changing model means zero-cost and zero-hassle to condominium management and has garnered very strong interest from hundreds of condominiums. Building on this momentum, Charge+ will avail 18 months of free charging credits if Charge+ is to establish the charging station in the condominium of the Tesla buyer.

For the landed home segment, beyond the free charging credits of 6 months, Tesla buyers can also look forward to receiving a complimentary EV charger.

In close partnership with Charge+, OCBC Bank offers an Eco-Care Car Loan, attractively priced at 1.68%, to support early adopters of electric vehicles. Earlier in January 2021, OCBC Bank also launched Pre-approved car loan (PAL), which means any prospective car buyer can apply online and secure an approval instantly. In fact, the PAL can be granted to an applicant even before any purchase is made.

Mr Goh Chee Kiong, CEO of Charge+, said, “Charge+ and our strategic partner OCBC are delighted to introduce another innovative offering to spur EV adoption in Singapore. Regardless of whether the EV buyer is living in HDB, condominiums or landed homes, the accessibility to convenient charging is an important consideration. We believe our package will go a long way to addressing the EV charging concern by prospective EV buyers and contribute to Singapore’s vision of phasing out conventional vehicles by 2040.”

Mr Sunny Quek, Head of Consumer Financial Services Singapore, OCBC Bank, said, “With OCBC’s pre-approved car loan (PAL), a prospective Tesla car buyer can easily apply for it online when they are placing an order for the car. As a local bank, OCBC is also keenly aware of our role to encourage electric vehicle adoption amongst Singaporeans who wish to embrace ‘greener lifestyles’. Hence, with an attractive interest rate for OCBC Eco-Care car loan and also teaming with Charge+ to accord free charging credits, Tesla customers now have a complete package of financing and charging solutions to make their buying experience even better.”

A Tesla buyer, Robin Pho, happens to sit on his condominium council. As part of the sub-committee for green initiatives, Robin and other council members evaluated multiple proposals to install EV charging stations in their condo and concluded, “Our role in the condo council is to find the best deal for our condo residents. The Charging-as-a-Service offering from Charge+ means it is zero cost for the condo management and also offers the most attractive pricing plan for our condo residents adopting EVs. Moreover, the new package from Charge+ and OCBC Bank provides the lowest car loan interest at 1.68%, and even offers free charging for the first 18 months. This is a great deal for both current and future EV drivers in our condo.”