AGL expands electric vehicle subscription service to Brisbane, Queensland

AGL expands EV subscription serivce to third australian city

As traditional energy retailers look for additional revenue streams in the face of falling demand for fossil fuel derived electricity, greater uptake of behind the meter solar and changing consumer preferences, AGL is expanding its electric vehicle subscription service to Brisbane, Queensland, after initially rolling it out in Sydney and Melbourne late last year.

Starting from $299 per week, customers can choose from an MG ZS EV or a Hyundai Ioniq. For $599 per week, customers can get there hands on the Tesla Model 3 Standard Range Plus.

There's a one-off $800 sign up fee, plus a $150 fee if subscribers cancel within the first six months.

AGL is offering a month-to-month all-inclusive EV subscription plan

A range of models are available, including Nissan's Leaf and Hyundai's Ioniq.

For a higher weekly price, subscribers can access the excellent Hyundai Kona Electric or Tesla Model 3.

This equates to $15,152 per year for either the MG ZS EV or Hyundai’s Ioniq. If you’d like to step up to Tesla’s Model 3 Standard Range Plus, it’s going to cost you $29,552 per year (gulp). While there are many benefits to this program—the ability to change vehicles every six months, inclusive serving and insurance and no need to pay a deposit on the vehicle—this still appears to represent poor value compared to just leasing a vehicle over 3-6 years.

If one was to lease a Model 3 in Australia direct from Tesla/Pepper Finance on an 36 month term with a driveaway price of $71,996 for the Standard Range Plus vaiant, One would pay $1,232/mo in the first year for the car, plus the following:

• $150 deposit

• $2350 12 months comprehensive insurance (approx. average price)

• $500 for annual service (approximate)

• $1,000 wallbox charger + installation fee (approximate)

• $1,000 for tyres (unlikely, but let’s just include it)

If we add those costs to the vehicle repayments of $14,784 for the first twelve months, that’s $19,784 total for the first year of ownership, or around $10,000/$833 per month less expensive than AGL’s plan.

Despite appearing to offer poor value, many consumers not familiar with the EV market, or simply sick of having to deal with dealerships and sales staff may find benefits in a subscription plan like AGL’s. If you want to try a selection of EVs, you have the ability to change vehicles every 6 months, and you also have the peace of mind of no additional costs outside the monthly repayment.