Bank of Ireland Finance has been announced as the exclusive finance partner for Nevo, Ireland’s first dedicated online electric vehicle platform.
A new partnership between Bank of Ireland and Nevo could prove instrumental in helping motorists make the switch from fossil fuel vehicles to electric vehicles.
The Nevo platform offers a comprehensive range of services for people who want to learn more about electric vehicle ownership, and those looking to make the switch to electric motoring.
“Our recently published Sustainability Report sets out the steps that Bank of Ireland is taking in supporting our customers in making the green transition, and this Nevo partnership is another important stage on that journey”
The latest insights from the Irish motoring industry revealed that 26% of all new cars licensed in the first five months of 2023 were electrically chargeable vehicles (PHEV or EV), while 18% of all new cars licensed for the first time were electric – compared with 13% in the same period in 2022.
Timing is key
The timing of the new agreement is key also, with sales figures from the first quarter of 2023 revealing that new fully electric or plug-in hybrid electric vehicle sales by-passed diesel car sales for the very first time.
As dedicated finance provider Bank of Ireland Finance will work with Nevo to support customers as the EV transition gathers pace and Ireland enacts its Climate Action Plan aiming to achieve the Government’s stated target of having 945,000 electric vehicles on our roads by 2030.
“Nevo is delighted to partner with Bank of Ireland Finance, and we have a shared goal of supporting Irish consumers and businesses to make the transition to electric vehicles and a greener future,” said Derek Reilly, general manager of Nevo.
“Bank of Ireland Finance is uniquely positioned within the Irish automotive industry, already partnered with 22 of the motor manufacturers and OEMs operating here. All of these brands and franchise dealerships are available on Nevo, which allows consumers access every fully electric and plug-in model in one location. Nevo also provides the latest electric vehicle reviews, advice and technology news to help consumers make the switch with ease”
This is the latest step taken by Bank of Ireland as it makes progress across its Environmental, Social and Governance (ESG) pillars. It also signifies another funding milestone for an indigenous Irish business, following Nevo’s growth since its launch in early 2022.
“Our recently published Sustainability Report sets out the steps that Bank of Ireland is taking in supporting our customers in making the green transition, and this Nevo partnership is another important stage on that journey,” said Derek McDermott, managing director at Bank of Ireland Finance.
“Bank of Ireland Finance is now working with Nevo in providing consumers with the information they need to make the right choice in this area, as the sales of plug-in and fully electric vehicles continue to increase.”
Main image at top: Derek McDermott, Managing Director, Bank of Ireland Finane; Karen Kennedy, Franchise Retention and Innovation, Bank of Ireland Finance; Derek Kavanagh, Head of Motor Franchise Sales, Bank of Ireland Finance; Simon Andreucetti, Head of Growth, Nevo; Liam Grimes, Head of Operations, Nevo; Derek Reilly, General Manager, Nevo; and Fionn McGarvey, Group Marketing Lead, Nevo