Volkswagen Bank has started financing EV charging infrastructure for companies that want to electrify their vehicle fleet and need to install wallboxes and charging stations at their respective place of business.
Loans of €50,000 to €250,000 (£42,406 to £212,033) with a term and fixed interest rate of up to 20 years are to be approved “quickly and unbureaucratically”, according to the the company.
Higher loans would be granted after a positive balance sheet review.
“Switching to electric mobility requires many companies to make financially significant initial investments in operating equipment,” said Dr Michael Reinhart, chairman of the management board of Volkswagen Bank.
“With our charging infrastructure financing, we help our customers stay liquid in the process while still setting the necessary course for the future.
“To this end, we have designed the offer to be as transparent and uncomplicated as possible.
“At the same time, the offer represents another important step in the expansion of our business model.”
The investment financing also covers work on the building, on the existing operating equipment and the connection costs.
The installation of a photovoltaic system or a buffer reservoir can also be financed as part of the investment.
Moreover, Volkswagen Bank said it advises on the integration of possible subsidy funding and takes this into account from the outset when planning the individual financing.
