Zero-interest loans and free rego to boost EV sales in the ACT
The ACT Government will be the first in Australia to offer a loan-based incentive program for EV buyers, confirming an interest-free scheme to lure shoppers into sustainable vehicles.
The program – actually a watered-down version of the original vision, which included a $5000 subsidy – will see households offered zero-interest loans of up to $15,000, which can be used for anything from rooftop solar panels to home charging and battery infrastructure to the cost of a zero-emission vehicle.
The program would see a vehicle like the new MG ZS EV, which is $43,990 drive-away, become even more accessible. Alternatively, the money could be spent on solar panels and charging infrastructure at the owner’s home.
The program, a result of the Labor-Greens governing agreement, will include free registration for zero-emission vehicles for two years, as well as support to build 50 new public charging stations in the area.
The ACT is a fitting place to be crowned the most EV-friendly region in Australia, with Canberra already home to more Teslas per capita than anywhere else in the country.
There were 207 Teslas registered in the Australian Capital Territory by early 2020, and with the population of 429,800 people, it means there are 48.2 Teslas per 100,000 people, compared to 31.1 in NSW.
