Westpac is offering car loan customers free charging for electric vehicles in order to support a green transition.
Customers who finance an eligible electric vehicle will receive 1250 kWh of free public charging to use over 12 months from Chargefox stations.
The offer equates to approximately 7000km squared of driving and an estimated $750 in savings.
Westpac managing director of consumer finance Steve Rubenstein said the offer would go a long way towards customers’ savings.
“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,” Mr Rubenstein said.
“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.”
Chargefox is Australia’s largest electric vehicle charging network with over 1500 stations nationwide.
The bank’s offer was described as supporting Australians’ transition to greener lifestyles by Electric Vehicle Council chief executive Behyad Jafari.
“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,” he said.
The offer is just one of the latest incentives for Australians debating whether or not to purchase an electric vehicle.
The latest federal budget allocated $7.4 million over four years to introduce fuel efficiency standards which will encourage people to purchase electric vehicles.
The Federal Government passed an Electric Car Discount Bill in November 2022 which provides up to $2000 off the purchase price of battery-electric and plug in hybrid vehicles.
NSW has offered a $3000 rebate for the first 25,000 EVs sold under $69,000. Victoria has a similar offer.
Queenslanders earning less than $180,000 a year have access to a $6000 rebate on electric vehicles up to $68,000, with the rebate dropping to $3000 if they earn more.