Chris Bowen, the Minister for Climate Change and Energy, announced on 9th January, 2025 that the government will allocate AUD 50 million (US$ 31 million) to subsidise loans for electric vehicles (EVs).

The initiative targets farmers, freight companies, and small to medium-sized businesses. The scheme, to be administered through the government's Clean Energy Finance Corporation, aims to provide Australian motorists with expanded access to cleaner and more cost-efficient vehicle options.

"Clean technologies such as EVs, solar, batteries, and electric machinery are effective ways for businesses to reduce energy costs and decarbonise," Bowen stated.

A similar programme in 2024 enabled over 4,000 Australians to purchase EVs, supported by federally subsidised loans amounting to AUD 50 million.

In December, Bowen introduced an additional AUD 150 million initiative to assist individuals earning less than AUD 100,000 annually in acquiring EVs.

Data released on 6th January, 2025 by the Electric Vehicle Council, the peak industry body, indicated that EVs accounted for a record 9.6% of all new car sales in Australia in 2024, up from 8.4% in 2023.