The major institution Westpac and Chargefox are combining to make EV infrastructure easier to access
Bank Westpac has announced a partnership with the operator of Australia’s largest electric vehicle charging network, Chargefox, to help customers wanting to make the transition to a greener vehicle.
Under the deal, customers who finance an eligible electric vehicle 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 km of driving and could result in up to $750 in savings on charging.
Westpac Managing Director of Consumer Finance Steve Rubenstein says electric vehicle uptake in Australia is growing, with the 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,” Rubenstein says.
“The average Australian passenger vehicle travels around 11,000 km a year, so this is a great way for our customers to save on charging.
“This announcement is another step in helping our customers make the switch to a greener vehicle, following the launch of our EV loan last year.”
Chargefox CEO John Sullivan says Chargefox is 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,” he says.
Electric Vehicle Council CEO Behyad Jafari says the partnership is an excellent example of Australia’s 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 per cent p.a. (comparison rate from 6.70 per cent 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.