Discounted rates for Hyundai and Kia drive EV uptake
Supporting Australians to make the electric vehicle switch
Eligible customers could save on new fully electric Kia and Hyundai vehicles with discounted loans backed by CEFC finance.
$60 million
CEFC commitment
0.5 - 1.0%
discounted rates
New EVs
fully electric
By cutting finance costs, we’re not only making these vehicles more accessible, we’re also supporting Hyundai’s leadership in technologies like vehicle-to-grid, which can turn EVs into mobile batteries and strengthen our energy system. This investment is working to drive down emissions while giving Australians smarter, more thoughtfully designed transport options.Richard LovellExecutive Director - Debt Markets, CEFC
Our investment
The CEFC has committed up to $60 million to help reduce the upfront cost of electric vehicle (EV) ownership and enable more Australian businesses, fleets and households to make the switch.
The CEFC finance supports a discounted rate through Hyundai Motor Group’s finance arm, Hyundai Capital Australia (HCAU), which provides financial savings for customers purchasing new, fully electric vehicles priced below the luxury car tax threshold.
Under the program, eligible customers could save a minimum of 0.5 per cent up to 1.0 per cent on their finance rate across Hyundai and Kia. For example, on a loan of $70,000, a 1.0 per cent interest rate discount over five years could save customers more than $1,900 in interest costs.
OUR IMPACT
Around half of all light vehicles sold in the 10 years to 2035 would need to be electric if Australia is to realise the lower end of its 62 to 70 per cent emissions reduction target, according to the Climate Change Authority.1
However, the upfront cost of EVs has been a major deterrent for Australians considering a switch from petrol or diesel-powered internal combustion cars.
Discounted financing for eligible EVs makes them more affordable for households and small businesses and supports the transition to cleaner transport and emissions reduction.
The CEFC finance for Hyundai also backs the company’s leadership in technologies such as vehicle-to-grid, which can harness EVs as mobile batteries and strengthen the energy system.
1. Climate Change Authority Targets Advice
