HomeLoansCIBC first of six big banks to offer residential EV charger financing

CIBC first of six big banks to offer residential EV charger financing

The automotive industry is increasingly moving towards electric vehicles. As a bank serving both consumers and the automotive industry, CIBC is showing its support for the transition towards the electrification of vehicles, by introducing new programs to spark further EV adoption.

According to experts, many early adopters have already bought their EVs and the next wave of consumers will be harder to convince. This may be a challenge for the industry, as the Canadian government has set a target of 100 per cent for new vehicles being zero-emission or plug-in hybrids by 2035.

CIBC says it’s trying to help close this gap by being the first of the big six banks in Canada to partner with a residential EV charging station provider to offer a discount to its clients, and by offering its clients the ability to include a residential EV charging station in their auto loans. This…

Read more at canadianautodealer.ca

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