We’ve shared a guide outlining what an EV subscription model and a fully funded model are, and the advantages of choosing a subscription over a fully funded model.
What is an EV subscription model?
An EV subscription model means your business will invest in the costs of EV installation, maintenance and aftercare on a subscription basis, dividing the upfront and ongoing costs over a period of 24 - 60 months. This model can be tailored to your business’s financial goals to help you recover and profit from the costs, such as pricing for charging sessions.
This model is for businesses that aim to attract EV-driving customers, visitors or employees, such as office car parks and premium hotels.
As your business funds this model, you’ll own the chargers, can set your prices for sessions and customise features.
What is a fully funded model?
A fully funded charging model means a third-party provider covers the costs of EV infrastructure, including installation, maintenance and operations. It’s usually an option for businesses that want to offer EV charging but prefer not to invest in the initial costs, such as hotels. They can then offer charging to customers, visitors and employees without worrying about financial repercussions.
The third-party provider installs the chargers at your business and recovers the costs through user fees. They’ll own the chargers and manage ongoing maintenance and upgrade costs.
Advantages of the EV subscription model over the fully funded model
The advantages are subjective, as it depends on which model suits your business and goals.
The advantages of an EV subscription model over a fully financed model include:
- Aligns with your budget - You can spread the cost of installation, maintenance and aftercare, and we can tailor a package to you; some include as little as £4 a day for your chargers!
- You own the EV infrastructure - The cost may seem longer and stretched out, but at the end of that process, you’ll own the infrastructure and can upgrade and adjust as needed for your capacity and business requirements.
- You’ll have a team on board for maintenance - At Devitech, we’re passionate about maintenance and aftercare, and investing in a subscription model means we’ll be there every step of the way to ensure your chargers receive the maintenance and care they require.
- You can charge what you like - Your EV chargers mean owning how much to charge for sessions, whether it’s the same price for everyone or different perks for employees.
- Supports your brand - You can customise the chargers and their interface to align with your brand’s look and voice.
- Full control - Ultimately, every decision you make with the chargers is down to you and your business’s goals.
EV Subscribe - what does it include at Devitech?
We offer an EV Subscribe model, which can support your investment in EV infrastructure, including:
- No upfront costs
- Personalised monthly plans and payments provided by our finance brokers
- Contracts from 24 - 60 Months
- The ability to monetise your chargers using our FUUSE Back Office Management Service
- Option to add EV ChargeCare to obtain monthly reports on usage, revenue and issues per charger. Chargers are also updated with the latest firmware available, remotely managed where applicable.
- Back office systems monitored out of hours (standard hours 9 am to 5 pm Monday to Friday)