Grab and GXS Bank are making it easier for drivers in Singapore to charge electric vehicles (EVs) and secure loans to buy them.
Drivers can also browse new vehicles through Grab’s newly launched Car Marketplace, with used listings set to follow.
Grab has already expanded its EV rental options through GrabRentals and GrabCab. The latest services cover charging, financing and vehicle purchases.
Drivers Can Find and Pay for Charging in One App
Grab will test an EV Charging Network within its driver app in September.
The service will let drivers find nearby charging stations, check real-time availability and pay without leaving the app.
Developed with charging solutions provider Voltality, the network connects to more than 3,000 charging points from operators including SP Mobility, EV Mobility, Busways, G.Tech and MNL. More operators will be added over time.
Drivers can pay directly through their Grab wallet instead of managing separate accounts, cards or balances for different providers.
Relevant Grab partner discounts will be applied automatically at checkout.
Alejandro Osorio, Managing Director of Grab Singapore, said,
“By introducing an in-app charging feature alongside flexible financing and purchasing options with GXS Bank and key partners, we are empowering our driver-partners to switch to green mobility with confidence.”
Grab plans to roll out the service to all driver-partners by the end of 2026 after an initial trial with a selected group.
GXS Bank Is Tailoring Car Loans for Grab Drivers
GXS Bank is adapting its GXS AutoLoan for Grab drivers. The bank can include data such as their platform earnings and track records in its credit assessments.
Pei-Si Lai, Group CEO of GXS Bank, said,
“By enriching our credit assessment models, we can offer tailored financing to driver-partners who may be underserved by traditional banks.”
Eligible drivers buying a new electric or hybrid vehicle could receive financing of up to 100% with repayment periods of up to 10 years.
Depending on the approved loan, some may not need to make an upfront downpayment.
Grab and GXS Bank are also working with carmakers and dealers on packages that may include preferential deals, complimentary long-term servicing and extended warranties.
BYD is among the participating brands, with more expected to join.
Grab Adds a Marketplace for New and Used Vehicles
Grab’s Car Marketplace features new vehicles from CarTimes Group, Car Choice Singapore, Volt Auto, VINCAR Group and Speed Credit.
Used vehicles from the GrabRentals fleet will also be added.
GrabRentals is considering providing more comprehensive information on these listings, including EV battery State of Health, cell voltage and Diagnostic Trouble Codes.
Featured image: Edited by Fintech News Singapore, based on image by meshcube via Magnific
