In February 2024, Bank Australia made a bold move that captured national attention. It became the first bank in the country to stop offering loans for new petrol, diesel and hybrid vehicles. Now financing only new electric vehicles (EVs), the mutual bank has drawn a clear line in support of a cleaner, greener transport future. It is a step that aligns closely with the work we do at EVX and highlights the urgency of transitioning Australia’s vehicle fleet.
Bank Australia’s decision comes at a critical time. With 2025 expected to bring a wave of more affordable EVs to market, the bank saw an opportunity to support a growing demand for electric transport while staying true to its environmental values. As manufacturers introduce more competitively priced EVs, some starting from as low as $27,000—the barrier to entry is beginning to ease. But as more Australians consider making the switch, it is crucial that the infrastructure is there to support them.
That is where EVX comes in.
At EVX, we believe the rise of affordable EVs must be met with public charging that is accessible, reliable and designed for Australian streets. Our EVX Polechargers are built to make EV ownership practical. Installed on existing utility poles and powered by renewable energy, they provide charging where people live, work and travel, helping remove one of the most common barriers to EV adoption.
Bank Australia’s move sends a strong message: EVs are no longer niche. They are essential to achieving national emissions targets and reducing reliance on fossil fuels. But finance and policy shifts must be matched with real-world infrastructure. As EV uptake continues, we need to ensure drivers have the confidence and tools to charge with ease.
By focusing on key challenges like cost, accessibility and public understanding, we can help more Australians embrace the benefits of EVs. That’s why we are proud to be part of that solution, offering smart and sustainable charging to support a greener future.
To learn more about how our EVX Polechargers are making the EV transition easier, visit us here.
