Under this program, eligible customers can benefit from a reduction in their finance rates by a minimum of 0.5% and up to 1.0% across Hyundai and Kia's range of eligible EVs. For instance, on a loan of $70,000, a 1.0% interest rate discount over five years could result in savings exceeding $1,900 in interest costs. This financial incentive is available for new, fully electric vehicles priced below the luxury car tax threshold.

Donglim Shin, Chief Executive Officer of Hyundai Capital Australia, highlighted the importance of this collaboration, stating that the partnership with CEFC allows them to offer discounted finance on eligible Hyundai Motor Group EVs, making electric vehicle ownership more achievable for Australian customers.

This initiative aligns with Australia's broader goals of reducing carbon emissions and promoting sustainable transportation. By lowering the financial barriers to EV ownership, the CEFC and HCAU are playing a pivotal role in accelerating the adoption of electric vehicles across the country.

For consumers considering the switch to electric vehicles, this partnership offers a timely opportunity to take advantage of reduced financing costs, making EVs a more viable and attractive option in the current automotive market.