Keen to buy a Tesla? Charge+ partners OCBC Bank to offer free EV charging, low-interest loans

Homegrown electric vehicle (EV) charging operator Charge+ announced today (June 3) its partnership with OCBC Bank to offer a holistic charging solution and financing package for the buyers of Tesla electric vehicles (EVs) in Singapore.

Under the package, Tesla buyers can expect up to 18 months of free charging and low-interest EV loans of 1.68 per cent.

This January, Charge+ and OCBC signed a memorandum of understanding (MOU) to boost Charge+’s plans to install 10,000 EV charging points islandwide by 2030.

These charging points will be installed across housing estates, condominiums, commercial and industrial properties. Tesla buyers stand to enjoy a free charging period at Charge+ charging points for a minimum period of six months, that can be extended to as long as 18 months. 

For the condominium segment, Charge+ has grown rapidly to become a leading charging-as-a-service business provider.

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

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

Tesla buyers who live in landed properties can look forward to receiving a complimentary EV charger, beyond the free six months of charging credits.

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.

Goh Chee Kiong, CEO of Charge+

 In close partnership with Charge+, OCBC Bank offers an Eco-Care Car Loan, priced at 1.68 per cent, to support early adopters of electric vehicles.

Earlier in January 2021, OCBC Bank also launched a pre-approved car loan (PAL), which means that any prospective car buyer can apply online and secure an approval instantly. 

“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,” said Sunny Quek, Head of Consumer Financial Services Singapore, OCBC Bank.

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Featured Image Credit: Charge+ / Forbes