Government announces finance incentive for EVs
But discounting interest rates for electric vehicles and plug-in hybrids doesn’t go far enough, say EV stakeholders.
The Australian government has issued a press release this week, announcing a deal worked out with Macquarie Leasing for cheaper finance to purchase electric vehicles and plug-in hybrids.
Starting with a $100 million asset finance program supported by the Clean Energy Finance Corporation (CEFC), the deal retailed through Macquarie provides buyers a 0.7 per cent discount for EVs and plug-ins. There’s also a 0.5 per cent discount available for buyers of conventional cars that are more eco-friendly.
“Electric vehicles will play a big role in terms of creating more sustainable cities with less pollution and improved health outcomes for our community,” says Josh Frydenberg, the Minister for the Environment and Energy.
“By providing discounted finance through the CEFC, it is hoped we can encourage a greater up take of electric vehicles and reduce emissions.”
According to the CEFC, the discounted interest incentive to buy greener cars will contribute to reducing the nation’s carbon-dioxide emissions by over 200,000 tonnes.
“Initiatives like this one are examples of the action the Government is taking to meet our Paris target of reducing emissions by 26 to 28 per cent on 2005 levels,” the minister was quoted saying in the press release.
Tesla welcomes the initiative, says the local spokesman for the American electric vehicle manufacturer.