Boston, MA 10/17/2013 (wallstreetpr) – ChargePoint Inc. has approached KeyCorp (NYSE:KEY) to jointly help other businesses and cities in installing its systems. The biggest charging stations’ operator when electric vehicles are concerned, ChargePoint, has made a financial program offer to KeyCorp. According to the third quarter report released by KeyCorp, its net income attributable to shareholders jumped up from $214 million to $266 million when compared to the same quarter results of the last year.
This new rent-to-buy program that the companies have come up with involves no upfront charges to customers. The Campbell, California based company ChargePoint Inc. says its system will be priced at around $6,000 to $12,000 to its customers interested in purchasing the system. KeyCorp generally rents for 5 to years on average, as informed by the company’s Chief executive Officer, Pat Romano. He said that the rent for each day varies somewhere between the range of $3 to $6. The expense incurred by its customers could be made up for by them through charges which will be applicable to users. Further, the customers could even combat these expenses involved in purchasing or renting the systems by promoting them to users as a service to draw business. The whole arrangement is planned with a view to promote the use of chargers and spur deployment of electric vehicles all the more. At present, according to the information shared by ChargePoint on its website, the company has over 13,500 charging locations in as many as 14 countries.
The CEO of KeyCorp believes that it is always preferred by the customers that they pay for the device as they use it. Doing away with upfront costs enables them to pay in accordance of their usage. This way it becomes more affordable and easy for the customers at the same time they keep benefitting out of the systems.