ACT will have the power to give zero-interest loans to make electric vehicles affordable in Australia. After Labor and Greens signed a contract to facilitate the supply of electric vehicles at subsidized rates, this move came into action.
The introduction of zero-interest loans will make electric vehicles more affordable in Canberra compared to other areas in Australia. Greens party promised to champion for the uptake of more renewables.
Greens political party agreed to initiate the rEVolution program and realize the 90 percent uptake of electric vehicles by the end of this decade. The complete transition will be achievable in the next fifteen years. The party promises to make a turnaround in the transportation industry by introducing the electric mode of public transport. This new system not only entails the big buses carrying numerous people but also the garbage trucks.
The political agreement between Labor and Green intends to provide Canberra with clean energy by implementing the proposal emerging from the partnership. Greens political party had agreed to provide $28.5 million to realize the subsidization of electric vehicles to a minimum of $10000. These clean energy vehicles will attract zero interest for those who purchase them on loan. These loans will be given to the customer under a special agreement.
Places like California have already started implementing the zero-interest loans plan to supply $15000 electric cars for households with installed charging systems. This state agreed to provide the deposit for installing photovoltaic solar panels to maximize electric vehicles’ uptake.
Additionally, the government has agreed to offer free registration to register new electric vehicles in two years. This strategy will help customers who fear registration procedures to pass through this financial burden.
Furthermore, ACT provides a platform for the buying of electric vehicles without incurring stamp duty. California also provided that it would be developing more than 50 electric vehicle recharging centers in Canberra and its environs.
Currently, there are about five electric vehicle brands that are affordable. These brands include Renault Zoe, Nissan Leaf, Hyundai Kona Electric, Ioniq, and MG ZS EV. Every country is preparing to accept electric vehicles into their transportation system to accelerate the achievement of the climatic change objectives.
To sum up, countries are taking up electric vehicles and their hybrids to overcome the range anxiety. For instance, China has supplied over 144000 electric vehicles to its population. ACT will also be instrumental in the transition to net-zero emissions.