Bank of Ireland Finance and Nevo Announce Finance Partnership Agreement

Bank of Ireland Finance has been announced as the exclusive finance partner for Nevo, Ireland’s first dedicated electric vehicle platform. The Nevo platform offers a comprehensive range of services for people who want to learn more about electric vehicle ownership, and those looking to make the switch to electric motoring.

The latest insights from the Irish motoring industry revealed that 26% of all new cars licensed in the first five months of 2023 were electrically chargeable vehicles (PHEV or EV), while 18% of all new cars licensed for the first time were electric – compared with 13% in the same period in 2022.

The timing of the new agreement is key also, with sales figures from the first quarter of 2023 revealing that new fully electric or plug-in hybrid electric vehicle sales by-passed diesel car sales for the very first time.

As dedicated finance provider Bank of Ireland Finance will work with Nevo to support customers as the EV transition gathers pace and Ireland enacts its Climate Action Plan aiming to achieve the Government’s stated target of having 945,000 electric vehicles on our roads by 2030. This is the latest step taken by Bank of Ireland as it makes progress across its Environmental, Social and Governance (ESG) pillars. It also signifies another funding milestone for an indigenous Irish business, following Nevo’s growth since its launch in early 2022.

Speaking at the formal launch of the partnership in College Green Derek McDermott, Managing Director at Bank of Ireland Finance said: “Our recently published Sustainability Report sets out the steps that Bank of Ireland is taking in supporting our customers in making the green transition, and this Nevo partnership is another important stage on that journey. Bank of Ireland Finance is now working with Nevo in providing consumers with the information they need to make the right choice in this area, as the sales of plug-in and fully electric vehicles continue to increase.”

Derek Reilly, Nevo General Manager added: “Nevo is delighted to partner with Bank of Ireland Finance, and we have a shared goal of supporting Irish consumers and businesses to make the transition to electric vehicles and a greener future. Bank of Ireland Finance is uniquely positioned within the Irish automotive industry, already partnered with 22 of the motor manufacturers and OEMs operating here. All of these brands and franchise dealerships are available on Nevo, which allows consumers access every fully electric and plug-in model in one location. Nevo also provides the latest electric vehicle reviews, advice and technology news to help consumers make the switch with ease”