New Partnership Offers Discounted Finance for Hyundai and Kia Electric Vehicles

Under this partnership, the CEFC has committed up to $60 million to support the financing of new, fully electric vehicles priced below the luxury car tax threshold, currently set at $91,387. Eligible customers can benefit from a reduction of between 0.5% and 1.0% on their finance rates. For instance, a 1.0% discount on a $70,000 loan over five years could result in savings exceeding $1,900 in interest costs.

Minister for Climate Change and Energy, Chris Bowen, highlighted the significance of this collaboration, stating that it offers consumers more choices for their next vehicle while contributing to the reduction of transport emissions. He noted that in 2025, Australia added a record 156,000 EVs to its roads, with December alone seeing EVs reach a monthly market share of 16.7%.

This partnership is part of a broader strategy to encourage the adoption of cleaner transportation options in Australia. By lowering the financial barriers to EV ownership, the initiative supports the nation's goals of reducing emissions and promoting sustainable energy solutions.

For prospective buyers, this means that transitioning to an electric vehicle is now more financially viable. The discounted finance rates apply to a range of Hyundai and Kia EV models, providing consumers with various options to suit their preferences and needs.

In summary, the collaboration between the CEFC and Hyundai Capital Australia represents a significant step towards making electric vehicles more accessible to Australians. By offering reduced finance rates, the initiative not only eases the financial burden on consumers but also aligns with the country's commitment to a cleaner and more sustainable future.