Humax and Zopa Bank put the brakes on the cost of home EV charging

Humax EV Charging partnered with Zopa Bank to give buyers of new and second-hand electric vehicles (EVs) a more affordable way to purchase a Humax MX7 home EV charger with installation through the Humax Direct website.

The new finance option allows customers to spread the cost of their Humax MX7 charger and installation across 12 months interest free, with Zopa Bank available as a payment option at checkout alongside other financing options such as Klarna. This gives EV drivers greater flexibility when budgeting for the move to electric motoring, without having to cover the full cost of their charger and installation in advance.

As the UK EV market continues to evolve, an increasing number of drivers are making the switch from petrol and diesel cars to electric vehicles. While this progress brings a range of benefits, the additional cost of purchasing and installing a home charger can be a significant consideration, particularly for people buying a second-hand EV.

For used EV buyers, the cost of a charger and professional installation can represent a substantial proportion of the value of the vehicle itself. By spreading the cost over 12 months with 0% interest, the new Zopa Bank option enables customers to invest in convenient home charging while avoiding a large initial outlay or the worry of interest charges building up.

Matthew McMullan, director, automotive and energy, Humax EV Charging, commented, “The EV market is continuing to develop, and we are seeing more people make the move from petrol and diesel vehicles to EVs, including buyers choosing the growing second-hand EV market. For someone purchasing a used electric car, the cost of a home charger and installation can represent a surprisingly large proportion of the value of the vehicle they have just bought.

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We wanted to make it easier for more drivers to access the benefits of home charging without having to find the full cost at the start. By offering Zopa Bank’s 12-month interest-free option through Humax Direct, customers can spread that expense over a longer period without the worry of interest accumulating or a significant payment at the start.

Matthew McMullan

Director of Automotive and Energy, Humax EV Charging

The Humax MX7 is designed to provide a future-ready home charging solution for EV users (both personal and fleet drivers), enabling convenient charging at home while offering the features expected from a modern connected charger. 

The partnership with Zopa Bank forms part of Humax EV Charging’s wider approach to supporting drivers and fleet operators as they manage the costs associated with EV charging. Humax EV Charging also works with partners including PAUA and Rightcharge, which provide solutions to help drivers and fleet operators manage their EV charging expenses.

About the Humax MX7

Designed to simplify energy management, streamline operations and maximise cost efficiency, the Humax MX7 combines advanced communication technology, robust hardware and seamless software integration to deliver a charging experience that is secure, smart and scalable. 

Supporting ISO 15118 and OCPP standards, the charger identifies compatible vehicles through intelligent authentication, enabling accurate vehicle recognition and helping organisations separate business charging from private use. Combined with integrated fleet charging platforms, the MX7 provides a future-ready foundation for connected fleet charging and evolving technologies such as Vehicle-to-Grid (V2G). Further information on Humax EV Charging can be found at https://humaxcharging.com/uk/.

About Humax

Humax EV Charging is part of Humax, a global technology and connectivity business founded in South Korea in 1989. Humax provides connected charging hardware and software for homes, fleets and commercial environments, supported by installation, commissioning and after-sales service. More at https://humaxcharging.com/uk/.

About Zopa Bank

Founded in 2020, Zopa Bank is a digital bank with 20 years of lending expertise, combining the agility of digital banking with the reliability of a traditional bank. Its range of products spans lending, savings, everyday banking, investments and point-of-sale finance, all designed to make managing money simpler and more effortless. Zopa is committed to providing fair, good-value financial products and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. More at https://www.zopa.com/.