KeyCorp, ChargePoint Establish Sizable EV Charging Financing Program

Electric vehicle (EV) charging solutions provider ChargePoint has partnered with Key Equipment Finance, an affiliate of KeyCorp, to launch a $100 million lease-to-own program for EV charging stations.

This financing initiative is aimed at enabling small and medium-sized companies, municipalities and various fleets to acquire and install EV chargers at no up-front cost. Known as The Net+ Purchase Plan, the new initiative is also designed to ‘provide a net positive cashflow for companies or public entities, depending on charging usage,’ the companies say.

‘This program makes it much easier for municipalities and businesses with budget or cashflow constraints across the U.S. to cover both the hard and soft costs associated with EV chargers,’ says Tim Duerr, senior vice president of business development at Key Equipment Finance.

The program is the first large-scale financing solution offered in the EV market, the companies say.

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