In a move to strengthen its ESG-related offerings to retail customers, OCBC Bank (Malaysia) Berhad (OCBC Bank) is tying up with five electric vehicle (EV)-related companies to provide EV owners with affordable options for their green journey.

The collaboration with EV Connection, CarputZap, GoCar, Renault and PowerBee (a wholly owned subsidiary of Solarvest Holdings Berhad) will, among others, avail to OCBC cardmembers 0% instalment payment plan (IPP) options of up to 24 months on EV chargers. They will also get to enjoy discounts on EV chargers, on car sharing rides, and daily to yearly subscription of electric vehicles.

According to Ms Anne Leh, OCBC Bank Managing Director & Head of Consumer Financial Services, the rollout of the offerings comes on the back of increasing demand from customers for support in their electric vehicle-ownership journey.

“The introduction of the electric vehicle-related offerings is part of the Bank’s overall strategy to focus on encouraging our customers to stay with their EV journey. EVs are a key component of a low carbon economy. By providing attractive credit card offers and instalment payment plans, we hope to help our customers in their acquisition of peripherals like EV chargers and usage of rental electric vehicles. The endgame is of course to encourage those who wish to switch to EV to do so knowing full well that they have the necessary support.

“One of our partners is offering a solution for our customers who are having difficulty convincing their condominium and commercial property management to install EV chargers, whereby the partner provides complimentary installation of a public pay-per-use EV charger at the property. OCBC cardholders utilising the EV chargers at these condominiums and commercial properties will get to enjoy a 10% rebate on the EV charging charges. Our tie ups also extend offers for non-EV drivers to try out EVs at a discounted price with daily, weekly, 30-day, and yearly subscriptions, thus easing the decision to purchase an EV. Apart from 0% IPP for OCBC credit cardholders, debit cardholders are eligible for all the other deals,” she said.

(L-R): Collaboration for a green journey – (L-R) Mr Lim Chee Khoon, CFO, TC Euro Cars Sdn Bhd (authorised distributor of Renault in Malaysia); Mr Wong Hoe Mun, CEO, GoCar Mobility Sdn Bhd; Mr Davis Chong Chun Shiong, Executive Director/Group CEO, Solarvest Holdings Bhd (parent company of PowerBee); Ms Anne Leh Geok Meng, Managing Director & Head of Consumer Financial Services, OCBC Bank (Malaysia) Berhad; Ir. Lee Yuen How, Managing Director, EV Connection Sdn Bhd; Mr Eugene Tan, Executive Director, Carput Technologies Sdn Bhd; Mr Lee Kim Seong, Head of Consumer Lifestyle Finance, OCBC Bank (Malaysia) Berhad

Ms Leh added that OCBC Bank is also working towards collaborating with other EV partners to offer its customers 0% IPP on their EV downpayments.

Last year, OCBC Bank became part of a relatively rare group of building owners in the city centre to offer EV charging services, aligned with its quest to promote sustainability and climate-friendly practices.

The Chargers were installed at Menara OCBC by Petaling Jaya-based EV Connection Sdn Bhd (EVC), a pioneer in the electric vehicle charging infrastructure and solution provider established in 2016. EVC is a registered electrical contractor with Energy Commission (Suruhanjaya Tenaga) Malaysia and a certified EV charger installer by TUV Rheinland.