Macquarie-CEFC deal to boost electric vehicle take-up

A $100 million agreement between Macquarie Group’s leasing arm and the Clean Energy Finance Corporation to support uptake of electric vehicles will provide critical support for the industry’s development.

With Clean Energy Finance Corporation support, Macquarie will offer electric vehicle leases at a 0.7 percentage point discount to the standard rate.

Approximately 1200 vehicles will be financed under the arrangement.

“An agreement such as this provides important support to Australia’s electric vehicle industry,” said Behyad Jafari, CEO of the Electric Vehicle Council. “The greening of Australia’s vehicle fleet represents extraordinary untapped opportunity to cut carbon emissions.

“Unfortunately, we lag advanced developed nations in the uptake of electric vehicles because we are not providing concessions in areas such as registration charges and fringe benefit tax.

“However, it’s not too late. By getting our tax and investment policies right, Australia can support the development of electric vehicle infrastructure, win a slice of a booming global market and support a cleaner, healthier environment.

“Minister Frydenberg and the CEFC have made an excellent decision in supporting electric vehicles and Macquarie Group has provided a powerful demonstration of support for the industry with this investment.

“We hope to see more agreements like this one.”



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