Westpac Boosts Electric Transition

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Sydney, June 15: Westpac, one of Australia’s leading financial institutions, has announced a partnership with Chargefox, the operator of Australia’s largest electric vehicle (EV) charging network. The collaboration aims to assist customers in their transition to greener vehicles by providing free public charging for eligible EVs.
Under the partnership, customers who finance an eligible electric vehicle will receive 1,250 kWh of free public charging over a period of up to 12 months at more than 1,500 Chargefox stations across the country. This amount of charging equates to approximately 7,000 kilometers of driving, potentially resulting in savings of up to $750 on charging costs.
Steve Rubenstein, the Managing Director of Consumer Finance at Westpac, emphasized the growing adoption of electric vehicles in Australia and acknowledged the concerns customers have regarding the availability of charging infrastructure. He stated, “We want to help increase access to charging stations and support our customers who want to make the transition.”
Rubenstein highlighted the significance of the offer, noting that the average Australian passenger vehicle travels around 11,000 kilometers per year. Thus, the free charging provided by Westpac and Chargefox presents a significant opportunity for customers to save on charging expenses.
The partnership with Chargefox is a further step by Westpac to facilitate customers’ transition to greener vehicles, following the introduction of their EV loan last year. Westpac’s EV loan offering starts from 5.49 per cent p.a., providing flexibility to cover additional expenses such as an EV home charger, car software upgrades, and on-road costs. Customers have a choice of approximately 600 eligible EVs.
Chargefox, Australia’s largest and fastest-growing EV charging network, boasts over 1,500 publicly available charging plugs nationwide. With more than 80,000 Australian EV drivers already utilizing the Chargefox network, the company aims to make affordable charging accessible to all EV drivers, contributing to a cleaner future.
The partnership between Westpac and Chargefox has received a commendation from Behyad Jafari, CEO of the Electric Vehicle Council, who praised the collaboration as an example of leading financial institutions working with the electric vehicle industry to support consumer choice in the clean energy transition.

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