ACT offers zero interest loans and two years free registration for EV buyers

Under a new governing agreement co-signed by Labor and the Greens, electric vehicle (EV) buyers in the Australian Capital Territory (ACT) will have access to zero-interest loans of up to $15,000 as well as free registration for two years.

According to the 2020 State of Electric Vehicles report published by the Electric Vehicle Council, the ACT is the highest rated state/territory within Australia with regards to policies that encourage EV uptake. EV owners in the ACT are already exempt from stamp duty, as well as receiving a 20 per cent discount on registration.

The new agreement will promote a range of new incentives, reinforcing the ACTs position as the most EV friendly jurisdiction in the nation.

Under the agreement, EV buyers will have access to “a program of zero-interest loans of up to $15,000 for households and not-for-profit community organisations to assist with the upfront costs of investing in zero-emission vehicles,” as well as “free vehicle registration for new zero-emission vehicles for two years, introduced as soon as practical.”

The aim of the agreement is to adopt an “ambitious target for the new ACT vehicle sales to be zero-emission by 2030”, with both parties promising to “significantly expand the number of zero-emission vehicles in the ACT.”

The contract also stipulates the construction of “at least 50 electric vehicle recharging stations across Canberra and the region.”

Finally, it vows to continue the transition of Canberra’s public bus fleet to zero-emission vehicles by “buying 90 electric buses in the next government term, building a new zero-emissions bus depot in Canberra’s North and building electric bus infrastructure at the new Woden Depot”

Source: Car Advice | ACT to offer electric car buyers free registration and $15,000 loans

20 November 2020

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