Westpac today announced a partnership with the operator of Australia’s largest electric vehicle charging network, Chargefox, to help customers who want to make the transition to a greener vehicle.
Customers who finance an eligible electric vehicle1 will receive 1,250 kWh of free public charging to use over a period of up to 12 months at more than 1,500 Chargefox stations around the country. This equates to approximately 7,000 km2 of driving and could result in up to $7503 in savings on charging.
Westpac Managing Director of Consumer Finance, Steve Rubenstein, said: “Electric vehicle uptake in Australia is growing, with EV share of domestic car sales increasing sharply 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. We want to help increase access to charging stations and support our customers who want to make the transition,” he said.
“The average Australian passenger vehicle travels around 11,000 km a year4, so this is a great way for our customers to save on charging,” Mr Rubenstein said.
“Today’s announcement is another step in helping our customers make the switch to a greener vehicle, following the launch of our EV loan last year,” he said.
Chargefox CEO, John Sullivan, said: “We're excited to partner with Westpac to help enhance the affordability of EVs. Our mission is to make simple and affordable charging attainable by all EV drivers, creating a cleaner future.”
Electric Vehicle Council CEO, Behyad Jafari, said: “This partnership is an excellent example of our leading financial institutions partnering 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. Around 600 eligible EVs are available to choose from.
More information on our electric car loan is available on our website.
Chargefox is Australia’s largest and fastest-growing EV charging network with over 1500 publicly available charging plugs around the country. Over 80,000 Australian EV drivers use the Chargefox network with a driver plugging in every minute.
Owned by Australia’s motoring and mobility clubs (NRMA, RACV, RACQ, RAA, RAC, RAC) who have been supporting motorists for over 120 years, Chargefox offers real-time assistance for anyone needing help at a charger. The Chargefox app is free on the App Store and Google Play and allows EV drivers to find a charger and pay for a charging session quickly and easily. Chargefox stations are available in locations all over Australia, from major shopping centres to supermarkets, local council spots and tourist destinations.
1Full electric vehicle only, financed through a Westpac Electric Car Loan. Max 30 days post settlement date, eligible customers will be sent a unique code and instructions on how to activate. Customers will need to download the Chargefox app and enter the unique code. When customers charge their EV using a Chargefox station, used kWhs are deducted automatically and once all used, customers will pay via credit card loaded to the customer’s Chargefox mobile app profile
2Based on 17.9 kWh per 100 km
3Using 60c per kWh, if all 1,250 kWh was used, this would result in $750 saved