PETALING JAYA: Maybank has introduced an integrated automobile solution for electric vehicle (EV) and hybrid vehicle owners covering various aspects, including financing, insurance and takaful coverage as well as EV-charging privileges.
This is in line with the group’s aspiration to become the sustainability leader in the region by fulfilling its commitments of mobilising a recently revised target of RM80 billion in sustainable financing to customers by 2025 as well as achieving a carbon neutral position by 2030.
Maybank Community Financial Services Group CEO Datuk John Chong said this offering is timely and showcases the group’s strong commitment to sustainability and at the same time catering to the evolving needs of customers as they become increasingly more environmentally conscious.
“Apart from that, our initiative is also in support of the government’s vision of growing the EV market share to 38% by 2040 through the Low Carbon Nation Aspiration under the National Energy Policy 2022-2040,” Chong said in a statement today.
Maybank Islamic, meanwhile, will become the country’s first financial provider to embark on the EV charging infrastructure landscape having installed EV charging stations at Dataran Maybank, the Kuala Lumpur Golf & Country Club and Mandarin Oriental Hotel in Kuala Lumpur respectively.
In addition to this, Maybank Islamic is targeting to install several more EV charging stations within the Klang Valley and other states in peninsular Malaysia by December 2024 to help further strengthen the ecosystem and promote the usage of EV and Hybrid cars.
Maybank Islamic CEO Datuk Mohamed Rafique Merican said that this is part of the bank’s efforts to encourage adoption of EVs while making more charging stations readily available for the convenience of EV owners.
Furthermore, customers can enjoy rewards and benefits from Maybank Islamic’s EV financing membership programme, InCharge, which provides customers with rebates when utilising charging stations owned by Maybank Islamic and all other charging stations through the ParkEasy app.
“Our ultimate goal is to create a positive impact to the environment and society, and in line with the group’s mission to Humanise Financial Services, Maybank Islamic will allocate proceeds collected from the usage of the EV charging stations to fund identified social impact initiatives,” added Mohamed Rafique.
On the insurance front, Etiqa had previously introduced Malaysia’s first insurance and takaful coverage for EV Home Chargers in October last year. The coverage is available as a complimentary add-on to the Etiqa private car policy or certificate for newly registered battery-powered Electric Vehicles (BEV) or Plug-in Hybrid Electric Vehicles (PHEV).
Alternatively, a standalone coverage for EV home chargers under the All Risk Insurance and Takaful plan is also available for EV owners who have purchased the EV home wall charger separately from their new motor insurance and takaful.
