Westpac tie-up supports EV transition

Up to 1,250 kWh of public charging offered to eligible customers

Westpac tie-up supports EV transition


By Mina Martin

Westpac has teamed up with Chargefox, the operator of Australia’s largest electric vehicle charging network, to help customers make the transition to a greener vehicle.

The deal will enable customers who finance an eligible EV to get 1,250 kWh of free public charging to use over a period of 12 months at more than 1,500 Chargefox stations around the country. That’s equivalent to roughly 7,000 km of driving and up to $750 in savings on charging.

Steve Rubenstein, Westpac managing director of consumer finance, noted an increase in electric vehicle uptake in Australia, with EV share of domestic car sales sharply rising in recent years.

“We know that many people are motivated by saving on fuel when considering making the switch to electric, but they also have concerns about running out of battery on the road,” Rubenstein said. “We want to help increase access to charging stations and support our customers who want to make the transition.”

Rubenstein said the bank’s latest move is another step towards helping customers make the switch to a greener vehicle, following the launch of its EV loan last year.

“We’re excited to partner with Westpac to help enhance the affordability of EVs,” said John Sullivan, Chargefox CEO. “Our mission is to make simple and affordable charging attainable by all EV drivers, creating a cleaner future.” 

Behyad Jafari, Electric Vehicle Council CEO, said the partnership is an excellent example of major financial institutions working together with the electric vehicle industry “to support and enable consumer choice in the clean energy transition.”

Westpac’s electric car loan offering starts from 5.49%p.a. (comparison rate from 6.70%p.a.) and provides flexibility to cover other expenses such as an EV home charger, car software upgrades, and on-road costs. Customers can choose from around 600 eligible EVs.

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