By Sam Boughedda
Investing.com -- ChargePoint Holdings Inc (NYSE:CHPT) shares are trading 5% higher Tuesday after it revealed it has teamed up with Goldman Sachs (NYSE:GS) Renewable Power (GSRP).
ChargePoint said the companies will partner to offer tailored financing solutions as part of the ChargePoint as a Service (CPaaS) product family to reduce the costs of EV charging technology for eligible customers.
"Through this unique partnership, eligible customers can choose the CPaaS option that best fits their needs, which now includes both financed and turnkey charging," said ChargePoint.
The new financed option on offer will allow customers to pay for charging infrastructure as an operational expense, with the turnkey option enabling them to offer public charging to host a station at zero cost.
"This partnership will enable customers to implement a superior EV charging solution at no capital expense," they added.
Pasquale Romano, president and CEO of ChargePoint, said the partnership "reduces the barrier to entry for businesses who have been interested in adopting clean energy but have held back due to lack of tailored financing."