BofA launches electric vehicle resource center to power EV adoption

31/05/2023 News

New tools and resources put consumers in the driver’s seat as they navigate EV ownership.

Bank of America’s EV Resource Center is a comprehensive collection of resources dedicated to helping consumers learn about and make informed decisions when considering an electric vehicle (EV) purchase. The new site provides interactive tools and content for a variety of topics including types of EVs, driving range, maintenance costs and tax incentives. There are also links to locate charging stations and apply for an auto loan.

Adoption of EVs could increase up to seven-fold by 2025 (PDF), according to Bank of America Institute, but this trajectory will require addressing common misconceptions around range anxiety, financing options and more. Seeing the need for straightforward and engaging tools and resources, Bank of America created the EV Resource Center to empower consumers interested in EVs to make informed decisions.

The EV Resource Center is also the latest in Bank of America’s broader commitment to environmental sustainability and efforts to help clients reduce their carbon footprint. Bank of America achieved carbon neutrality in its operations in 2019 and has since committed to reach net zero in its financing activities, operations, and supply chain before 2050. In addition, Bank of America has a goal to deploy and mobilize $1.5 trillion in sustainable finance capital by 2030, including $1 trillion to support environmentally sustainable business activities.

Earlier this year, Bank of America became the first major bank to offer consumers the option of financing their residential electric vehicle chargers alongside their auto loans.

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