Australian Financial Institutions join the rEVolution as more and more EV's hit the streets, offering charging incentives.
In media releases this week, Pepper Money and Bank Australia announced that they would be putting their financial weight behind the rEVolution — the switch from fossil fuel vehicles to electric vehicles.
Pepper Money announced 12 months of free charging for those drivers taking out a loan to buy an electric car. Pepper has gone into partnership with Evie Networks, which will provide the charging. “We want to help accelerate the switch to EVs by removing the barriers and contribute to lasting, systematic change — from finance to infrastructure and beyond,” saidthat it will no longer issue loans for the purchase of fossil fueled cars.
Australia is awash with announcements promoting the uptake of EVs and the accelerated transition to renewable energy. The mainstream media is starting to take notice and the public is getting more and more accurate and positive news about the situation. It helps that Audi is taking out full page ads in Rupert Murdoch’s flagship newspaperto promote electric Audi models — specifically, the e-tron — with the caption “Accelerate Progress.
There will be some who will naysay and moan — these are two small financial institutions, what about the big four? It remains to be seen as to whether the two Davids in this fight can influence the Goliaths of Wespac, ANZ, Commonwealth, and NAB. But, who knows, market share is market share.pivots away from coal, hopefully we will see more Australian financial institutions join the rEVolution, giving incentives for EV purchase.
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