Octopus Electric Vehicles just launched DriveFree, a used EV leasing program, and it comes with unlimited free home charging.
Octopus Electric Vehicles is part of the UK-based energy tech giant Octopus Energy Group, which first launched Octopus Energy US in Texas in 2020 after acquiring Evolve Energy.
To lease and get unlimited free home charging with DriveFree, you need to live in the Houston area and have Octopus Energy as your home electricity provider. Octopus Energy will issue a credit on your energy bill for the amount you spend to charge your car at home. DriveFree customers will also get a discount on all home energy.
Octopus EV US co-lead Chris George said, “For the millions of Houstonians commuting to work, driving electric can be a money saver today. For the first time, the more miles you drive, the more your savings will be.”
DriveFree offers one- to four-year leasing plans and mileage plans up to 25,000 miles per year, and its package is pretty compelling. It includes maintenance, repairs covered by a manufacturer warranty, and tire costs, and Octopus Electric Vehicles will send a mobile mechanic to your home or work. Plus, trade-ins on an old car are available, and home delivery of your EV is included. The company takes care of the title and registration for you.
Octopus doesn’t provide a free home EV charger, nor does it install an EV charger for you, but it can hook you up with a home EV charger and an electrician to install it through its partner, Treehouse, if you don’t want to sort that out yourself.
Cars currently on offer on the company’s website include Chevy Bolt, Hyundai Kona, VW ID.4, Polestar 2, Tesla Model 3 RWD, Hyundai Ioniq 5, and Audi e-Tron.
Customers can arrange a lease with Octopus online, and a company spokesperson told us that cars are currently being delivered in two to three weeks.
If you lease a Tesla Model 3 RWD through DriveFree, for example, it’s a monthly payment of $579 and $2,579 due at signing for a 36-month lease and 15,000 miles annually. Tesla’s website estimates a three-year gas savings for this model of $4,500. If that’s taken into consideration, it would bring DriveFree’s monthly actual cost down to $454 – and that’s before the free home charging is taken into account.
It’s just another option on the table for folks who want to explore driving electric, and if Octopus’s leasing process is seamless, then that’s a good thing. Houstonians, you can learn more here.
Read more: The US Treasury just released EV charger tax credit guidance – here’s how to find out if you qualify
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