Maybank Electric Vehicle Financing – a comprehensive EV financing solution with perks to suit your lifestyle
Electric vehicles (EVs) are hotly debated and a top priority for product planners at automakers globally.
While electric vehicles will take some time to replace internal combustion engine (ICE) vehicles on our roads, battery car sales are growing thanks to tax exemptions and government incentives. Other perks (like zero road tax) kickstart sales and incentivize early adopters. From zero exhaust emissions to powerful and quiet electric motor torque, it’s likely that once you switch to electric, you’ll never look back.
Free EV charging credits, free home charger coverage, discounted rates, and more!
Not just an ordinary rental loan, Maybank electric car sponsorship offers perks that help electrify your life with an EV. Charging is an important part of life with electric vehicles and here, Maybank is offering exclusive perks like 30% off charging stations on the ParkEasy app (under InCharge), a charging membership program Maybank Islamic tram.
This 30% discount is included with a free RM500 Premium credit when you choose EV funding of RM250,000 or more, or a RM200 Extra Fee credit for an EV funding of at least RM120,000 . To give you an idea of how far the RM500 can go, with a 30% discount, the free credit will let you use ParkEasy’s 7 kW AC charger for up to 238 hours, fully charging the BYD Atto 3’s battery over 26 time. Taking an average conservative range of 400 km per charge, that could mean up to 10,500 km of free mileage.
An interesting benefit of the Maybank Electric Vehicle Sponsorship program is free coverage for your home electric vehicle charger, free for newly registered electric vehicles covered by Etiqa or takaful motor insurance. This is a unique product in Malaysia and not only will your EV be protected, its “lifeline” will also be protected.
tax free temptation
Admittedly, petrol is heavily subsidized in Malaysia, which negates any major cost savings one can get by switching from ICE to EV, giving support to the real people. necessary. It is a matter of when, not if, it will be done.
Since the introduction of EV incentives for complete unit imports (CBUs), automakers have responded by bringing in their latest battery-powered cars to take advantage of the duty-free opportunity. This. As a result, Malaysians are now fortunate to have a wider range of electric vehicles to choose from, compared to just two or three years ago.
Premium brands like Mercedes-Benz, BMW, and Volvo have a wide range of EV alternatives to their popular ICE models. Hyundai and Kia are active in this area and even have new brands dedicated to EVs, with established electric vehicle manufacturers from China (the world’s largest electric vehicle market) taking the lead. Set up shop here. Even as we speak, many EVs are being planned – the important thing is that some will make a new breakthrough in affordability.
Growth options, lower barrier
Speaking of affordability, we’re currently looking at around RM140k (Ora Good Cat) to RM150k (BYD Atto 3, Hyundai Kona Electric) for the most affordable EVs in Malaysia. Prices for the Honda HR-V and Toyota Corolla Cross, two popular midsize SUVs, currently top out around RM140,000 for the hybrid variants, so duty-free EVs are now definitely viable options within reach. .
As of right now, there are no true mass-market EVs to compete with B-segment ICE giants like Honda City and Toyota Vios. However, because BYD has announced plans to introduce the Dolphin EV later this year, that model is likely to cost less than RM100,000. In Thailand, consumers already have a number of options under THB one million (about RM130,000) and we should expect the electric vehicle floor price to continue to fall as more players join the fray here.
Inadequate public charging infrastructure is often cited as a barrier to electric vehicle adoption. In this respect, great strides have been made recently, and the government has announced a goal of having 10,000 public charging stations by 2025. As of the end of Q1 2023, there are 978 AC public charging stations. (AC) and Direct Current (DC) in Malaysia, according to the Malaysian Electric Vehicle Owners Club (MyEVOC).
While DC fast chargers are popping up across cities and on Malaysia’s highway network, the availability of home chargers is actually more important for electric cars. If you reside in a land-based property or have access to overnight charging, there’s no reason why you can’t charge your EV on a daily basis. If you live in a condominium, unfortunately it is currently illegal to install separate chargers in the building’s shared parking lots, but residents can petition the General Authority (JMB) installs shared chargers on the premises of the building.
Ready to switch to EVs?
Consider Maybank Electric Vehicle Financing, the first integrated automotive financing solution that covers the various aspects of owning an electric vehicle, to complement your green lifestyle. Maybank is the winner of The Asian Banker’s Best Auto Financing award in 2022 and is offering attractive financing rates, electric vehicle charging perks and even insurance/insurance Free insurance for your home electric car charger.
Maybank Electric Vehicle Financing offers competitive and competitive rates for EV financing, with funding margins of up to 90% for terms up to 108 months. The bank promises quick approval, and with Maybank’s unrivaled network of more than 300 branches nationwide, payments can be made easily, whether physically or online, via Maybank2u.
Think tram, think Maybank
With competitive financing rates, charging discounts and free protection for your home charger, Maybank Electric Vehicle Financing is the complete financing solution for your EV. Join Maybank’s electric vehicle sponsorship program and you’ll have a chance to win gold or the latest gadgets, from March 1, 2023 to August 31, 2023.
For more information about Maybank Electric Vehicle Loan, please visit: Read more here or follow hashtags #MaybankAutoFinance on social media channels.
