The Albanese Government is helping more Australians get behind the wheel of an electric vehicle sooner, cutting running costs for families and small businesses and reducing transport emissions.
The Clean Energy Finance Corporation (CEFC) has committed up to $60 million to partner with Hyundai Capital Australia (HCAU) to reduce the upfront cost of EV ownership by offering discounted finance on eligible Hyundai and Kia electric vehicles.
Eligible customers could save a minimum of 0.5 per cent and up to 1.0 per cent on their finance rate. On a $70,000 loan, a 1.0 per cent discount over five years could save more than $1,900 in interest costs.
The discounted finance will be available for new, fully electric vehicles priced below the luxury car tax threshold, supporting households and small businesses to make the switch to cleaner transport.
Minister for Climate Change and Energy Chris Bowen said the initiative was about offering consumers more choice for their next vehicle.
"This CEFC investment will help lower the cost barrier for households and small businesses, making EV ownership more accessible" Minister Bowen said.
"Transport is one of our biggest sources of emissions, and electric vehicles are a key way we cut pollution while saving people money."
2025 added a record 156 000 EVs to Australia's roads, with December 2025 seeing more sales records for EVs with reached a record monthly share of 16.7%.
