Zero interest loans for electric vehicles in Australian first: 2 years free registration and $15,000 interest free loans
From today, May 24, the Australian Capital Territory (ACT) became the first jurisdiction in Australia to incentivise EV uptake, by offering a raft of measures it hopes will reduce the territory’s emissions, and provide great zero-emission vehicle choice to its residents.
From today, May 24 2021, the Australian Capital Territory (ACT) became the first jurisdiction in Australia to incentivise EV uptake, by offering a raft of measures it hopes will reduce the territory’s emissions, and provide great zero-emission vehicle choice to its residents.
Already offering zero stamp duty for zero-emissions vehicles, the Labor-Greens government has added two years free registration (a saving of $317-573 per year depending on vehicle weight) and the ability to access an interest-free loan of up to $15,000 to assist with the purchase of an EV.
The ACT’s nation-leading incentives show a firm commitment to address emissions within the territory, and is part of a broader plan to support clean energy job-creation, decarbonise public transport, and roll out a fast-charging network. More information can be found on the ACT Government’s website.
Under the ACT government’s new incentives, MG’s ZS EV could cost around $28,990 with the $15,000 interest free loan applied. Image: MG Motor Australia
Policy certainty is key to receiving investment from overseas manufacturers in Australia, and increasing consumer choice in the marketplace. “We already adopted a zero-emissions vehicle action plan in 2018, and it was first and foremost about transitioning our own government fleet.” according to Shane Rattenbury MLA, Attorney-General and Minister for Water, Energy, and Emissions Reduction, who spoke with us on a recent podcast. “We wanted to help create a more stable market so that the car companies would start bringing vehicles to Australia. We now want to move into encouraging more private uptake.”
The ACT should also be commended for recognising that cost is a huge barrier to entry into a zero-emissions vehicle for many Australians, and that by electrifying government fleets, they are creating a secondhand EV market in three or four years time.
The ACT government has also committed to electrifying their entire bus fleet, and has recently acquired 20 hydrogen fuel cell Hyundai Nexo vehicles — the first hydrogen vehicles to be registered in Australia — which it will lease from the Korean manufacturer.
You can view our full interview with Shana Rattenbury MLA below.
Toyota reveals first battery EV concept at Auto Shanghai, the BZ4X Concept Crossover
Many in the motoring media thought this day wouldn’t come, but Toyota has finally unveiled its BZ4X Concept crossover, and the Japanese automaker says that it “hopes to begin worldwide sales of the model by the middle of 2022”.
Toyota BZ4X marks start of 15 model BEV rollout by 2025
Many in the motoring media thought this day wouldn’t come, but Toyota has finally unveiled its BZ4X Concept crossover at Auto Shanghai 2021, and the Japanese automaker says that it “hopes to begin worldwide sales of the model by the middle of 2022”.
Taking its ‘BZ’ moniker from the concept of ‘Beyond Zero’ emissions, The BZ4X carries familiar toyota design elements, wrapped in a shape that mimics Kia’s EV6 in its cab-backward squared-off look. Based on the e-TNGA platform co-developed with Subaru, all wheel drive (AWD) variants of the BZ4X will utilise Subaru’s proven AWD technology.
Of course while many people were quick to herald the arrival of the BZ4X Concept as a Hyundai and Kia challenger, Toyota has released very limited information on the car, preferring to wax lyrical about the company’s planned EV rollout over the next decade.
Speaking of, Toyota plans to expand to its model lineup to around 70 electrified vehicles globally by 2025, however this includes non-plug-in hybrids powered by combustion engines. Toyota has labeled its/Lexus’s hybrids as ‘self-charging’ in a jab at BEV owners having to stop to charge; a dishonest description of the technology. Norway has even banned this advertising language, calling it “misleading consumer practice”.
Toyota’s BZ4X Concept looks production ready.
Toyota’s BZ4X Concept
The company plans 15 dedicated BEVs, including seven carrying the bZ (Beyond Zero) brand moniker. In addition, Toyota intends to bring electrification to its pickup truck lineup in the near future, including hybrid and BEV powertrains.
Toyota continues to hedge its bets on vehicle technology, committing to internal combustion, hydrogen fuel cell and battery electric vehicle development.. Toyota Australia vice-president of sales and marketing Sean Hanley stated: “Our approach reiterates Toyota Australia's absolute commitment to reducing its CO2 footprint and the adoption of new technologies across our extensive range of vehicles, whilst recognising the different practical needs of Australian customers and geographies”
We’d have to question Toyota’s approach; with most major global auto manufacturers facing declining sales revenue, increasing operating costs and capital expenditure, and strict emissions controls across China, North America and Europe over the coming decade, many manufacturers such as General Motors, Volkswagen and Volvo are settling on Battery Electric Vehicle technology. It’s unlikely that any one company —even one as big as Toyota — can afford to back three different propulsion technologies in the medium-to-long term.
