Product11 November 2021•2 minute read
Plenti launches into fast-growing electric vehicle market
Plenti Group Limited (Plenti) is pleased to announce its strategic entry into the fast-growing electric vehicle (EV) financing market, helping to make the transition to EV ownership easier and more affordable for Australians.
A new financier has entered the EV world.
- Plenti is launching a suite of innovative EV finance products and tools, featuring highly attractive pricing and unique add-on features to help Australians transition to EV ownership
- Plenti has entered into a financier agreement with an EV manufacturer, allowing customers to select Plenti finance when purchasing their vehicle online
- Plenti’s EV finance will also be distributed via its existing direct and broker channels, with rates at least 0.5%p.a. less than Plenti’s existing highly competitive car loan rates
- To support its EV ambitions, Plenti is well-advanced in establishing with a major bank a new automotive warehouse facility that will have a dedicated and cost-effective EV tranche (a structure Plenti believes to be an Australian first)
- Plenti’s launch into the EV market is highly complementary to its fast-growing household renewable energy finance business, and allows it to provide customers with a one-stop-shop when financing their energy and transport future
- Highly attractive rates for EV loans – at least 0.5%p.a. less than Plenti’s existing highly competitive car loan rates
- The ability to borrow additional amounts to purchase EV-related infrastructure (including chargers, downloadable vehicle upgrades and other accessories) at establishment or during the term of the loan;
- Access to discounted EV-specific insurance, featuring battery and charger damage cover;
- Access to an EV buying service, helping borrowers to learn more about the benefits of EVs, and to find and compare prices quickly and easily; and
- A comprehensive online content portal (see plenti.com.au/ev/) providing information about EVs, including how to apply for government subsidies and clarifying common misconceptions in relation to ownership cost, range capacity and charging access