Australian Government partnerships to boost EV uptake and infrastructure

CEFC’s $50 million investment

The Clean Energy Finance Corporation (CEFC) will invest $50 million with Angle Auto Finance (AAF), to get 20,000 new electric vehicles (EVs) onto our roads over the next 2 years. 

AAF will provide short-term loans to car dealerships to purchase vehicles from manufacturers, with dealerships to repay the loan when the vehicle is sold. 

Approximately 8.4% of all new cars sold in Australia in the first half of 2023 were EVs. But this is only around a third of new EV sales in the UK and Europe 

CEFC media release

ARENA’s boost for EVs

The Australian Renewable Energy Agency (ARENA) has announced $4.76 million in funding from the Driving the Nation Program to Europcar Mobility Group for the ‘Electric Rental Vehicle and Charging Infrastructure Rollout’ project.

Europcar Mobility Group will install 256 chargers across at least 41 sites around Australia, including metropolitan hubs and regional locations. The $110.6 million project will also encourage airports to consider integration of EVs into parking, grid connections and operations.

This will support the deployment of around 3,100 rental EVs over the next 3 years.

The project will make EVs more accessible and attractive to thousands of individual and business customers for rental at prices comparable to fossil-fuel vehicles. Increasing the amount and variety of EV models available will lead to more competitive purchase costs.