Grab and GXS Bank have on Wednesday jointly announced new solutions designed to address operational and financial barriers to EV adoption for Grab’s driver-partners.
Anchored by the EV Charging Network – a charging and payment feature embedded within the Grab Driver App, the suite also includes tailored vehicle financing and a transparent car marketplace, Grab said in a statement.
“The Singapore Green Plan 2030 includes a strong push to electrify our vehicle population, and Grab is supporting this goal by committing to transition our fleet to low-emission vehicles,” said Alejandro Osorio, Managing Director, Grab Singapore.
“While we have made good headway through expanded EV rental options with GrabRentals and GrabCab, accelerating adoption requires tackling friction across the daily driver journey,
“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,” he added.
Pei-Si Lai, Group Chief Executive Officer, GXS Bank, said as an ecosystem bank, GXS Bank is uniquely positioned to do more for individuals and businesses that are within Grab’s ecosystem because of their distinct data insights.
“By enriching our credit assessment models, we can offer tailored financing to driver-partners who may be underserved by traditional banks,
“The GXS AutoLoan is a prime example of our ecosystem approach, removing key barriers to EV adoption by supporting drivers from upfront financing through to their everyday driving needs,” she added.
Built in partnership with EV charging solutions partner Voltality, the EV Charging Network feature enables drivers to locate charging stations, check their real-time availability, and make payment to various Charge Point Operators (CPOs) all within a single interface.
In September, Grab will launch a trial of the EV Charging Network with a select group of driver-partners to refine the user experience.
After being fine-tuned, the solution will be rolled out to all driver-partners by the end of this year.
Meanwhile, as part of the ecosystem, GXS Bank uses alternative data from Grab, such as drivers’ track records, to enrich its proprietary credit assessment models.
This data-driven approach allows the bank to customize the GXS AutoLoan, its car loan product, for Grab driver-partners.
This could include up to 100 percent financing and flexible tenures of up to 10 years when they purchase a new EV or hybrid vehicle, enabling down payments as low as $0 and significantly lower monthly repayment costs.
Grab and GXS Bank is also collaborating with various original equipment manufacturers (OEM) and car dealerships to offer preferential deals as well as complimentary long-term servicing and extended warranty packages on popular EV car brands for Grab’s driver-partners.
Participating brands include BYD, with more coming onboard in time.
In addition, to simplify vehicle sourcing, Grab has launched a Car Marketplace featuring brand-new models from its dealer partners – including CarTimes Group, Car Choice Singapore, Volt Auto (Dongfeng), VINCAR Group, and Speed Credit.
There will also be listings of pre-owned vehicles from GrabRental’s fleet.
GrabRentals will also explore upgrading its listing to include more comprehensive vehicle data, including EV-specific diagnostics like State of Health (SOH), cell voltage and Diagnostic Trouble Codes.
“Transitioning to EVs requires steady support at every stage, from flexible vehicle acquisition and rental options to daily charging on the road,
“Grab and GXS Bank remain focused on refining these solutions to make green mobility practical and accessible for all driver-partners. Together, these efforts directly support Singapore’s national vision for a cleaner transport network,” said the statement.
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