diff --git a/README.md b/README.md
index b6770010..6d77d33d 100644
--- a/README.md
+++ b/README.md
@@ -49,7 +49,7 @@ You should then follow the [Cluster API Quick Start Guide](https://cluster-api.s
 
 If you do not change the generated `yaml` files, it will use defaults. You can look in the [templates/cluster-template.yaml](./templates/cluster-template.yaml) file for details.
 
-* `CPEM_VERSION`                 (defaults to `v3.6.1`)
+* `CPEM_VERSION`                 (defaults to `v3.6.2`)
 * `KUBE_VIP_VERSION`             (defaults to `v0.5.12`)
 * `NODE_OS`                      (defaults to `ubuntu_20_04`)
 * `POD_CIDR`                     (defaults to `192.168.0.0/16`)
diff --git a/templates/cluster-template-crs-cni.yaml b/templates/cluster-template-crs-cni.yaml
index 60416010..ffbb21f4 100644
--- a/templates/cluster-template-crs-cni.yaml
+++ b/templates/cluster-template-crs-cni.yaml
@@ -166,7 +166,7 @@ spec:
       echo "complete -o default -F __start_kubectl k" >> $HOME/.bashrc
       if [ -f "/run/kubeadm/kubeadm.yaml" ]; then
         export KUBECONFIG=/etc/kubernetes/admin.conf
-        export CPEM_YAML=https://github.com/equinix/cloud-provider-equinix-metal/releases/download/${CPEM_VERSION:=v3.6.1}/deployment.yaml
+        export CPEM_YAML=https://github.com/equinix/cloud-provider-equinix-metal/releases/download/${CPEM_VERSION:=v3.6.2}/deployment.yaml
         export SECRET_DATA='cloud-sa.json=''{"apiKey": "{{ .apiKey }}","projectID": "${PROJECT_ID}", "eipTag": "cluster-api-provider-packet:cluster-id:${CLUSTER_NAME}", "eipHealthCheckUseHostIP": true}'''
         kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}" || (sleep 1 && kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}") || (sleep 1 && kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}")
         kubectl apply -f $${CPEM_YAML} || (sleep 1 && kubectl apply -f $${CPEM_YAML}) || (sleep 1 && kubectl apply -f $${CPEM_YAML})
diff --git a/templates/cluster-template-kube-vip-crs-cni.yaml b/templates/cluster-template-kube-vip-crs-cni.yaml
index 84e9810e..a309c5c2 100644
--- a/templates/cluster-template-kube-vip-crs-cni.yaml
+++ b/templates/cluster-template-kube-vip-crs-cni.yaml
@@ -159,7 +159,7 @@ spec:
       echo "complete -o default -F __start_kubectl k" >> $HOME/.bashrc
       if [ -f "/run/kubeadm/kubeadm.yaml" ]; then
         export KUBECONFIG=/etc/kubernetes/admin.conf
-        export CPEM_YAML=https://github.com/equinix/cloud-provider-equinix-metal/releases/download/${CPEM_VERSION:=v3.6.1}/deployment.yaml
+        export CPEM_YAML=https://github.com/equinix/cloud-provider-equinix-metal/releases/download/${CPEM_VERSION:=v3.6.2}/deployment.yaml
         export SECRET_DATA='cloud-sa.json=''{"apiKey": "{{ .apiKey }}","projectID": "${PROJECT_ID}"}'''
         kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}" || (sleep 1 && kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}") || (sleep 1 && kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}")
         kubectl apply -f $${CPEM_YAML} || (sleep 1 && kubectl apply -f $${CPEM_YAML}) || (sleep 1 && kubectl apply -f $${CPEM_YAML})
diff --git a/templates/cluster-template-kube-vip.yaml b/templates/cluster-template-kube-vip.yaml
index 7424240e..037e57ac 100644
--- a/templates/cluster-template-kube-vip.yaml
+++ b/templates/cluster-template-kube-vip.yaml
@@ -138,7 +138,7 @@ spec:
       echo "complete -o default -F __start_kubectl k" >> $HOME/.bashrc
       if [ -f "/run/kubeadm/kubeadm.yaml" ]; then
         export KUBECONFIG=/etc/kubernetes/admin.conf
-        export CPEM_YAML=https://github.com/equinix/cloud-provider-equinix-metal/releases/download/${CPEM_VERSION:=v3.6.1}/deployment.yaml
+        export CPEM_YAML=https://github.com/equinix/cloud-provider-equinix-metal/releases/download/${CPEM_VERSION:=v3.6.2}/deployment.yaml
         export SECRET_DATA='cloud-sa.json=''{"apiKey": "{{ .apiKey }}","projectID": "${PROJECT_ID}"}'''
         kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}" || (sleep 1 && kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}") || (sleep 1 && kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}")
         kubectl apply -f $${CPEM_YAML} || (sleep 1 && kubectl apply -f $${CPEM_YAML}) || (sleep 1 && kubectl apply -f $${CPEM_YAML})
diff --git a/templates/cluster-template.yaml b/templates/cluster-template.yaml
index 8e00ce52..b1e92137 100644
--- a/templates/cluster-template.yaml
+++ b/templates/cluster-template.yaml
@@ -91,7 +91,7 @@ spec:
         echo "complete -o default -F __start_kubectl k" >> $HOME/.bashrc
         if [ -f "/run/kubeadm/kubeadm.yaml" ]; then
           export KUBECONFIG=/etc/kubernetes/admin.conf
-          export CPEM_YAML=https://github.com/equinix/cloud-provider-equinix-metal/releases/download/${CPEM_VERSION:=v3.6.1}/deployment.yaml
+          export CPEM_YAML=https://github.com/equinix/cloud-provider-equinix-metal/releases/download/${CPEM_VERSION:=v3.6.2}/deployment.yaml
           export SECRET_DATA='cloud-sa.json=''{"apiKey": "{{ .apiKey }}","projectID": "${PROJECT_ID}", "eipTag": "cluster-api-provider-packet:cluster-id:${CLUSTER_NAME}", "eipHealthCheckUseHostIP": true}'''
           kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}" || (sleep 1 && kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}") || (sleep 1 && kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}")
           kubectl apply -f $${CPEM_YAML} || (sleep 1 && kubectl apply -f $${CPEM_YAML}) || (sleep 1 && kubectl apply -f $${CPEM_YAML})
diff --git a/templates/experimental-kube-vip/kustomization.yaml b/templates/experimental-kube-vip/kustomization.yaml
index 78a20fd2..d5bc5a17 100644
--- a/templates/experimental-kube-vip/kustomization.yaml
+++ b/templates/experimental-kube-vip/kustomization.yaml
@@ -85,7 +85,7 @@ patches:
             echo "complete -o default -F __start_kubectl k" >> $HOME/.bashrc
             if [ -f "/run/kubeadm/kubeadm.yaml" ]; then
               export KUBECONFIG=/etc/kubernetes/admin.conf
-              export CPEM_YAML=https://github.com/equinix/cloud-provider-equinix-metal/releases/download/${CPEM_VERSION:=v3.6.1}/deployment.yaml
+              export CPEM_YAML=https://github.com/equinix/cloud-provider-equinix-metal/releases/download/${CPEM_VERSION:=v3.6.2}/deployment.yaml
               export SECRET_DATA='cloud-sa.json=''{"apiKey": "{{ .apiKey }}","projectID": "${PROJECT_ID}"}'''
               kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}" || (sleep 1 && kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}") || (sleep 1 && kubectl create secret generic -n kube-system metal-cloud-config --from-literal="$${SECRET_DATA}")
               kubectl apply -f $${CPEM_YAML} || (sleep 1 && kubectl apply -f $${CPEM_YAML}) || (sleep 1 && kubectl apply -f $${CPEM_YAML})
diff --git a/test/e2e/data/v1alpha3/bases/cluster-with-kcp-cpem.yaml b/test/e2e/data/v1alpha3/bases/cluster-with-kcp-cpem.yaml
index 5f1c1b59..af60d6a4 100644
--- a/test/e2e/data/v1alpha3/bases/cluster-with-kcp-cpem.yaml
+++ b/test/e2e/data/v1alpha3/bases/cluster-with-kcp-cpem.yaml
@@ -90,7 +90,7 @@ spec:
           netmask 255.255.255.255
         EOF
       - systemctl restart networking
-      - 'if [ -f "/run/kubeadm/kubeadm.yaml" ]; then kubectl --kubeconfig /etc/kubernetes/admin.conf create secret generic -n kube-system metal-cloud-config --from-literal=cloud-sa.json=''{"apiKey": "{{ .apiKey }}","projectID": "${PROJECT_ID}", "eipTag": "cluster-api-provider-packet:cluster-id:${CLUSTER_NAME}"}''; kubectl apply --kubeconfig /etc/kubernetes/admin.conf -f https://github.com/equinix/cloud-provider-equinix-metal/releases/download/v3.6.1/deployment.yaml; fi'
+      - 'if [ -f "/run/kubeadm/kubeadm.yaml" ]; then kubectl --kubeconfig /etc/kubernetes/admin.conf create secret generic -n kube-system metal-cloud-config --from-literal=cloud-sa.json=''{"apiKey": "{{ .apiKey }}","projectID": "${PROJECT_ID}", "eipTag": "cluster-api-provider-packet:cluster-id:${CLUSTER_NAME}"}''; kubectl apply --kubeconfig /etc/kubernetes/admin.conf -f https://github.com/equinix/cloud-provider-equinix-metal/releases/download/v3.6.2/deployment.yaml; fi'
     preKubeadmCommands:
       - sed -ri '/\sswap\s/s/^#?/#/' /etc/fstab
       - swapoff -a