Grab Thailand teams up with KLeasing and MG to promote EV loan programme among driver-partners

Economy News Wednesday May 11, 2022 12:00 —PRESS RELEASE LOCAL

Grab Thailand teams up with KLeasing and MG to promote EV loan programme among driver-partners

Grab Thailand joins forces with KLeasing and MG Thailand to launch the 'EV loan for Grab driver-partners' programme in support of the government policy in driving clean energy. Aiming at promoting EV adoption among Grab driver-partners, the programme offers competitive loan benefits for the two popular EV series of MG electric car, MG ZS EV and MG EP, to help ease financial burdens for driver-partners. The benefits include a no-guarantor requirement, a daily repayment starting at only THB 227, and a 90-day free drive.

Mr. Worachat Luxkanalode, Executive Director of Grab Thailand, and Country Head of Grab Financial Group - Thailand, said, "Promoting the use of EVs among Grab driver-partners is one of our goals to strive for environmental sustainability which is part of our GrabForGood mission. After recently announcing a long-term EV goal for Thailand, targeting 10% of total driver-partners to adopt EVs by 2026, Grab Thailand has joined forces with KLeasing and MG Thailand to launch the first 'EV loan for Grab driver-partners' programme. The loan programme will support driver-partners who do not own a car and are unable to access financial services due to some limitations such as lack of a guarantor or a lump sum for a down payment by offering a daily repayment starting at only THB 227 and a low annual interest rate."

"According to our recent survey, up to 73.5 per cent* of Grab driver-partners are interested in adopting electric vehicles. The programme will give them an opportunity to own EVs and earn extra incomes through the ride-hailing service on the Grab application."

Mr. Tirachart Chiracharasporn, Managing Director of Kasikorn Leasing Company Limited, said, "The EVs adoption trend has increasingly become an interest across a wide public. Due to the economic impact of the surging fuel price and a government initiative in supporting the price of EVs, the total sales of EVs this year are expected to reach 10,000 with a minimum value of THB 10 billion, depending on the manufacturer's production capacity. Following the launch of the GO GREEN Together project by Kasikornbank, the first bank that fully integrates and drives the Green Ecosystem and Green Lifestyle in Thailand, KLeasing also launches a Green Zero loan campaign by extending our partnership with Grab and MG Thailand to provide the 'EV loan for driver-partners' programme. The new applicants for EVs loan will receive a 90-day free drive with no guarantor required to encourage wide adoption of EVs per the GO GREEN Together project of Kasikornbank."

Mr. Zhang Haibo, President of SAIC Motor-CP Co., Ltd., and MG Sales (Thailand) Co., Ltd., said, "Our collaboration with Grab, a leading ride-hailing service via application and KLeasing to promote the adoption of EVs is another key milestone in driving Thailand to become the EV society even more expeditiously. MG is committed to supporting the adoption of EVs across a wide public. We received up to 4,500 reservations of 100% electric vehicles only within a month following the government announcement on the support of electric vehicles. Besides our role as a manufacturer and distributor of EVs, MG also builds the integrated 'EV Ecosystem,' covering all aspects related to the adoption of electric vehicles. With our investment in providing over 2,000 MG Supercharger stations nationwide and our goal to increase at least one MG Super Charge station every 150 kilometers, Thai people are ready to move the EV society forward with full confidence."

Grab driver-partners who are interested in joining the 'Electric Vehicles (EVs) loan for Grab driver-partners' program may visit for more information

*A survey was conducted among a sampling group of 3,470 driver-partners on the Grab application

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