EVs are reshaping the automotive industry as we know it. Joining us on Inside Automotive today are Aaron Bickart, Executive Vice President and General Manager of OfferLogix and Olivier Pincon, CEO of ZappyRide to discuss their new partnership and how OfferLogix is going to market with it.
Pincon notes that buying EVs is different than gas-powered vehicles, as consumers will have to think about things like charging capabilities as well as potential incentives that can be obtained from the government, electricity companies, and more. He states that his company is partnering with OfferLogix to help dealers and consumers navigate the transition to EVs more effectively.
When asked if they foresee a jump in leasing when EVs become more popular, Bickart indicated he does because EV incentives can be used as a cap cost reduction, therefore lowering consumers’ overall monthly payments. In addition, he notes that the recently signed Inflation Reduction Act will mandate that eligible EV buyers receive immediate rebates at the time of purchase starting in 2023 – not when they file taxes.
Pincon feels that the new EV guidelines within the Inflation Reduction Act are creating “a lot of confidence in the industry.” He also touches on supply chain operations, noting that some EVs will only be available for rebates if they are made in the United States. He adds that many people may initially lease an EV because they aren’t fully convinced they’d be happy owning one, as it is a brand-new technology for many consumers.
On ZappyRide, Pincon says it is a “data and software company that’s dedicated to accelerating EV adoption.” The goal is to work with electric companies and other businesses like OfferLogix to help consumers understand what owning or leasing an EV would be like in their own lives.
Bickart notes his company’s partnership with ZappyRide is what his clients want, which includes clients in retailing and advertising. ZappyRide, he says, will be integrated with OfferLogix’s simplified API and its partnership with Equifax to work towards the primary goal of “penny perfect payments.” These, he suggests, allow consumers to have exact pricing data with no surprises at the dealer.
Bickart touches on the common belief that EVs are too pricey, which he says may not be the case after rebates and incentives. He also notes that the Inflation Reduction Act puts a cap on how expensive EVs can be, which will also help consumers financially.
Pincon projects there will still be “a lot of obstacles” when increasing the prevalence of EVs, which include making sure dealers understand EV pricing and what they entail technologically, creating the proper public charging infrastructure, and managing the electric grid sufficiently. These factors, he says, will play into how high or low the presence of EVs is in five to ten years.
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