Westpac partners with Chargefox to support electric vehicle transition

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.