CEFC invests to accelerate EV uptake for small businesses and households
1 April 2026
The CEFC is committing $100 million to help more Australians and local businesses switch to electric vehicles (EVs), with discounted finance for new and used eligible EVs, across multiple brands.
Eligible customers who take up the discounted finance offering from Volkswagen Financial Services Australia (VWFS) could save up to 1.0 percent on standard loan rates for eligible EVs, with 0.5 per cent from the CEFC and 0.5 per cent from VWFS. The program covers:
- Consumer loans for passenger EVs, capped under the Luxury Car Tax threshold.1 For example, customers could save more than $1,900 on a typical $70,000 loan over five years
- Commercial loans for light commercial electric vehicles, including vans or utility vehicles, which are not capped by the luxury car tax threshold.
“We’re making it easier for businesses to choose advanced electric vehicles, including those with future-ready features like V2G, by reducing barriers like high upfront costs and by encouraging manufacturers to increase model availability in Australia. This investment helps lower costs today and builds a stronger market for affordable, second-hand EVs tomorrow, making clean transport more affordable for more Australians and their businesses.”Richard LovellCEFC Executive Director and Head of Debt Markets
The finance gives Australians and their businesses the freedom to choose brands and models that best meet their needs. Customers who purchase and finance an eligible EV through VWFS will be able to choose from brands including Volkswagen, Audi, ŠKODA, Cupra and Volvo, as well as other eligible EVs beyond these brands through VWFS’s accredited dealer network.
The investment supports electrification of Australia’s small-to-medium sized business fleets by reducing upfront costs and sends a signal to manufacturers to offer a broader range of EV model options to the Australian market.
The investment also supports the future integration of EVs into the electricity grid. Vehicle-to-grid (V2G) enabled models can act as mobile batteries, with the ability to charge or discharge to the grid.
CEFC Executive Director and Head of Debt Markets Richard Lovell said: “We’re making it easier for businesses to choose advanced electric vehicles, including those with future-ready features like V2G, by reducing barriers like high upfront costs and by encouraging manufacturers to increase model availability in Australia. This investment helps lower costs today and builds a stronger market for affordable, second-hand EVs tomorrow, making clean transport more affordable for more Australians and their businesses.”
Ralf Teichmann, Managing Director Front Office of Volkswagen Financial Services Australia, said: “This partnership with the CEFC is an important step toward accelerating EV adoption in Australia. Through partnerships with Original Equipment Manufacturers and our extensive dealer network, and by offering flexible finance options, we make it easier for individuals and businesses to transition to cleaner transport solutions. At Volkswagen Financial Services Australia, we are ‘The Key to Mobility,’ delivering innovative finance and insurance solutions that make vehicle ownership and usership easier and more accessible. Our goal is simple: make mobility smarter, greener, and more attainable for all Australians - while helping to build a strong second-hand EV market for the future.”
Transport is currently Australia’s second largest emitting sector, accounting for around 23 per cent of national emissions2 and without intervention is projected to remain one of the top-emitting sectors well into the mid-2030s.
In 2025, emissions across all sectors decreased, excluding transport, which went up by 0.3 per cent.3 Light commercial vehicles comprise nearly a quarter of new vehicle sales in Australia,4 and remain an important sector to electrify to drive down emissions. Switching to EVs, especially in commercial fleets, is a key step in cutting emissions and the transition to a low-emissions economy.
Since inception, the CEFC has helped finance more than 17,000 EVs, exceeding $1 billion in value, including third party capital. CEFC finance has supported discount finance to help put essential workers in the EV driving seat, new technologies like Battery Electric Trucks with Volvo and backed Australia’s first electrified bus fleet to help make clean transport accessible.
About Volkswagen Financial Services Australia
Volkswagen Financial Services Australia is The Key to Mobility, connecting Australians to innovative finance and insurance solutions through strong partnerships with OEMs and an extensive dealer network. We offer tailored products for a wide range of brands, including Volkswagen Passenger and Commercial Vehicles, Audi, Škoda, CUPRA, Porsche, Bentley, Lamborghini, Ducati, Volvo, Jaguar, and Land Rover.
As part of Volkswagen Financial Services AG - the global mobility and financial services provider - we combine international expertise with local market insight to support Australia’s transition to sustainable transport. By introducing new ownership and usership models and collaborating with industry partners, we help shape a cleaner, smarter mobility future for individuals and businesses nationwide. To find out more visit: https://www.vwfs.com.au/
1 According to the Luxury car tax threshold applicable at the time of the loan being taken out.
2 DCCEEW, National Greenhouse Gas Inventory Quarterly Update: June 2025.
3 DCCEEW, National Greenhouse Gas Inventory Quarterly Update: June 2025.
4 Federal Chamber of Automotive Industries, Light commercial vehicles account for 22.8 % of sales in October 2025.
