New EV Leasing Program Launched By Octopus Energy

The renewable energy retailer Octopus Energy US has launched an EV leasing platform called EV Concierge. People living in Texas can sign up for octoev.us to help them search for and lease an EV. The leasing platform also helps with home charging setup and EV delivery.

Octopus Energy supplies over 3.2 million customers with 100% green electricity. Electric vehicles can be charged with electricity for clean, renewable sources such as wind power, solar power, and geothermal. Some EV critics wrongly say that EVs are no better than gas-powered vehicles because they are charged with electricity from coal power plants. Many EVs are not at all charged with this dirty electricity. As more and more clean energy sources come online and fossil fuels are phased out, all EVs eventually will be charged with clean electricity.

Chris George, the Director of US Octopus Electric Vehicles, answered some questions about the new EV leasing platform for CleanTechnica.

What is Octopus EV, and where and when will it be available?

Octopus Electric Vehicles makes it easy for drivers to switch to clean, electric transport. New and existing Octopus Energy customers are now invited to apply for our beta leasing program in Texas. 

Did you launch a version of it several years ago abroad? If so, how is it performing?

Our OEV colleagues in the UK have been innovating the industry for years, offering the best EVs on the market with an industry-leading package to get individuals to make the switch through their employer. This program is called ‘Salary Sacrifice’ and has seen interest from more than 1500 companies. This week, both the UK and US launched a personal leasing product (more details on the UK’s announcement here). 

For your Texas EV Concierge platform, how do the customers sign up and how does it work?

When visiting our site, octopusev.com, users will be greeted with our EV Concierge program, sample EV options, and an invitation to fill out our form to see if they qualify to participate in the beta program. 

If a customer qualifies, our EV Concierge will provide qualifying customers white glove service, helping soon-to-be EV drivers through the entire search and vehicle leasing process, including selection and delivery of a new or used EV of their choice, installation of an EV home charger, and education on best practices for EV ownership. New customers will get a brand new EV rate. 

Will your Texas customers be able to lease EVs and charge them with electricity from solar power and wind power?

Yes. Again, our mission with Octopus Electric Vehicles is to make it easy for drivers to switch to clean and electric transport. By sourcing renewable energy, Octopus Energy aims to eliminate tailpipe emissions and send clean generated electrons to our EV lease customers.

For your Texas customers, how do you determine how much demand there is in Texas for an EV leasing platform?

Interest in electric vehicles is at an all-time high and Texas is the third-largest market for EVs. Our adoption is nearly 4%of new car sales (~20K EVs on the road to date). According to DFW Clean Cities, there are more than 131,000 EVs in Texas as of June 21, 2022, with Travis, Harris and Dallas Counties boasting the most EVs. 

With the high demand for EVs and low supply of used and new EVs, it’s an important time for us to enter the EV space to help drivers transition into EV ownership as we push toward electrification. Plus, with our white glove service, inclusive of EV education, we can help make the switch easier than ever by walking customers through the entire process – increasing confidence in EV ownership and eliminating “fear of the unknown.” 

About how many EVs do you expect to be leased through your platform in the first year?

We have internal targets with our beta program and aim to grow interest and adoption as the program matures. 

Is the idea to eventually expand the EV leasing program to other US states?

We’re excited to roll out our first product with EV Concierge and make it easy for drivers in Texas to switch to clean, electric transport. With OEV having launched in the UK in 2018, we certainly have ambitions outside of Texas.

As we think about the electrification of everything, we will need to be prepared to support today’s demands with innovative technologies and more renewable energy generation. With OEV, we are evaluating ways to make our roads greener, electricity cheaper, and EV experience easier. 

We don’t have anything that we can share just yet, but I’ll be sure to keep in touch as we progress. 

Do you think some people who are not comfortable going from owning a gas-powered vehicle to buying an all-electric vehicle are more comfortable with leasing an EV first?

An important driver of EV adoption has been education and awareness. Our EV Concierge will provide qualifying customers a white glove service to help soon-to-be EV drivers through any questions they may have. We are excited to begin working with our customers to understand and address key barriers to leasing EVs.

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