Vehya's Marketplace is Revolutionizing EV Adoption while Meeting the Needs of Major Utilities, starting with DTE Energy

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Jun 15, 2023, 15:01 ET

DETROIT, June 15, 2023 /PRNewswire/ -- Vehya, a dedicated marketplace platform for Electric Vehicle Supply Equipment (EVSE), is partnering with DTE Energy, offering energy company customers the ability to have an electric vehicle (EV) charger installed, serviced, and financed on their monthly electric bill.

Through the partnership between DTE and Vehya, customers were able to finance the entire cost of an installation, which included the EV charger, panel upgrade, and any other necessary items. Vehya offered the required software, service providers, and hardware to support DTE's goal of removing barriers to EV adoption by offering programs that address customer pain points, such as reducing the complexity and upfront costs for customers seeking to have an EV charger installed at their home. Vehya's easy to use marketplace begins with a brief questionnaire about their home, followed by a hardware selection offered by several top EV charger companies. DTE's customers can choose their preferred installation dates and are given an instant assessment of the estimated cost. A built-in, easy to understand financing solution allows individuals to see monthly payment options and choose from 1-, 3-, 5-, and 10-year terms that is then reflected on their monthly DTE bill. They are then assigned Vehya-certified service providers who are licensed electricians and experienced in EV charger installation.

"We've noticed that the biggest hurdle for EV adoption is the price of equipment and installation. However, we are seeing real-time increases in adoption rates when people can simply finance the equipment, upgrades, and installation," said Will McCoy, CEO of Vehya.

Vehya's partnership with a major energy company like DTE shows that utilities can, in fact, finance the entire cost of a product as well as the installation services if given the right mix of features. This signals that financing can remove the barrier of entry for many people who do not have the funds required for the upfront cost of installing an EV charger.

"We issued an RFP and evaluated a dozen companies and Vehya was by far the most advanced platform of those that applied. We found them to be a great solution, tackling many of the issues we faced around delivering installation services and financing of EV chargers. DTE is committed to the electric vehicle future and grid resiliency, and we see Vehya as a partner to get there," relates Brett Steudle, DTE Energy, Manager EV Programs.

Traditionally, energy companies have been hesitant about implementing marketplaces due to the complexities of being a highly regulated, public-facing entity. Vehya's marketplace, however, presents a unique opportunity for energy companies to finance EV charger installations, utilize local union and non-union electricians, and help people transition to EVs.

Forward-thinking partnerships like DTE and Vehya can enable more energy companies to accelerate EV adoption in an equitable way with a turnkey solution for customers.

For more information on Vehya's platform, please visit www.vehya.com.

SOURCE Vehya