Fuji Electric introduces zero-down, zero-interest financing for DC fast chargers

Fuji Electric has long been focused on making DC fast charging more affordable, and argues that its 25 kW chargers offer the best blend of affordability and functionality. “50 kW chargers provide a complete charge faster than a 25 kW charger can,” said General Manager Larry Butkovich, “but, contrary to popular belief, the charging time is not cut in half by doubling the power from 25 kW to 50 kW.”

A Fuji study found that, when fast charging a popular EV from 30% state-of-charge, “a 50 kW charger will charge at a faster rate for the first 7-10 minutes of the charging cycle, after which it drops off to the same rate as the 25 kW charger as directed by the vehicle’s battery management system.”

This week, the company announced that its fourth-generation 25 kW fast charger is available with zero-down, zero-interest financing, which should be a powerful incentive for small businesses to install charging stations.

“We firmly believe that the development of charging infrastructure in the US, particularly publicly available quick charging, is a critical factor in the mass adoption of EVs,” said Larry Butkovich, Fuji Electric’s General Manager for EV Systems. “Drivers need reassurance that they will be able to access charging stations while on the road, and our financing program gives businesses the assistance they need to make a business case for the installation of these Quick Charging Stations.”

Fuji Electric’s UL-Certified 25 kW DC Quick Charging Station provides a complete charge  in under an hour. It’s aimed at commercial properties such as hotels, restaurants and retail stores, but the financing program is open to any company with a sufficient credit rating. It covers 100% of equipment costs, and in some cases, part of the installation costs as well. Property owners may also be eligible for a 30% federal tax credit for installation costs.

With over 400 units deployed worldwide, Fuji entered the US market in March 2012, and immediately recognized that high up-front costs were the main factor keeping businesses from investing in this technology. “Whether we are working with a large hotel chain or a single-owner convenience store, their questions are quite similar,” says Butkovich. “A zero-down, zero-interest financing program eases their concerns about up-front cash outlays and long-term interest payments on capital equipment.”

“This program demonstrates our ongoing commitment to our customers and their financial needs by removing the primary roadblock that prevents them from embracing this technology,” said Phil Charatz, Fuji Electric’s President and CEO.

 

Source: Fuji Electric