NAB Executive Business Metro and Specialised Julie Rynski said the data highlighted Australian businesses increasing efforts to improve their sustainability credentials and reduce greenhouse gas emissions.
“We’re seeing more business owners choose to make investments that help reduce their carbon footprint. A popular option being EVs, especially now that we’re seeing more models from more manufacturers become available here in Australia,” Rynski said.
“Just last year we were providing funding for around 16 different EV models – with Tesla being the most popular – now it’s 25.”
States leading growth in business finance for EVs include:
- South Australia (up 629%)
- Victoria (up 393%)
- West Australia (up 281%).
NAB research shows one in five SMEs strongly intend to make an investment to improve the sustainability of their business over the next two years.
“It’s our job to make cutting emissions easier for our customers,” Rynski said. “And as Australia’s largest business lender and leading equipment finance provider, we’re focusing on practical solutions – such as business finance for green equipment – to help businesses work towards and achieve their transition goals.”
“Last December we launched our business finance product for green equipment, and since its introduction we’ve seen demand for EV finance soar.”
“The product has clearly made financing electric vehicles more attractive as many business owners look to electrify their fleet to reduce their carbon footprint and business costs.”
Car hire company SIXT Australia’s Chief Financial Officer Peter Sowinski said it is using NAB’s business finance for green equipment to progressively electrify their commercial hire vehicles.
“SIXT’s rental fleet of 500+ electric vehicles are one of the largest fleets of EVs for rent in Australia, we’re embracing the change to eco-friendly and sustainable driving,” Sowinski said.
“With the help of NAB’s business finance for green equipment, 10% of our hire vehicles are now electric and we’re looking to grow this to 50% by 2027 to further expand our EV network.”
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