The Australian Government is a partnership with Hyundai Capital Australia Offer discounts Hyundai And Light up Electric Vehicles (EVs).
The Clean Energy Finance Corporation (CEFC) has committed up to $60 million to the initiative, which will see Hyundai Capital Australia (HCAU) offer discounted financing for eligible Hyundai and Kia electric vehicles.
HCAU offers discounts of 0.5 percent to 1.0 percent per annum on customers’ financing rates, depending on the model, with the government citing a 1.0 percent discount on a $70,000 loan, resulting in potential savings of more than $1,900 in interest costs.
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The discounts apply to vehicles priced under $91,387 – the Luxury Car Tax (LCT) threshold for fuel efficient vehicles – while demonstrator vehicles must have driven less than 5,000km.
Hybrid and plug-in hybrid models (PHEV) are excluded from the offer, as are novated leasing customers and the discounted financing cannot be combined with other financing.
The following Hyundai and Kia models currently have variants below this threshold:
“This CEFC investment will help lower the cost barrier for households and small businesses and make electric vehicle ownership more accessible,” said Chris Bowen, the Federal Minister for Climate Change and Energy.
“Transportation is one of our largest sources of emissions, and electric vehicles are an important way to reduce pollution while saving people money.”
“Electric vehicles are an important part of Australia’s mobility future, but acquisition costs can be a barrier for many customers,” said HCAU CEO Donglim Shin.
“Working with the CEFC allows us to offer discounted finance on eligible Hyundai Motor Group electric vehicles, making electric vehicle ownership easier for Australian customers.”
Hyundai Capital is the financial services unit of Hyundai Motor Group, which includes Hyundai, Kia and Genesis.
The CEFC is Australia’s specialist climate investor, backed by more than $33 billion in capital from the Australian Government, and has invested in a range of initiatives from hydrogen production to refueling facilities to electric vehicle chargers.
Kia electric vehicle sales rose 125.2 percent last year, with the EV5 properly entering service following its launch in late 2024 and the EV3 launching later in 2025, although sales of the EV6 and EV9 fell significantly. Overall, the brand’s sales increased by 0.4 percent compared to the previous year.
In contrast, Hyundai electric vehicle sales overall fell 30 percent, with the Ioniq 5 and Ioniq 6 declining significantly and the launch of the Inster and Ioniq 9 failing to offset this.
Despite this decline in electric vehicle sales, Hyundai increased its sales by 7.7 percent overall – significantly stronger growth than Kia, but not enough to move past its sister brand in the sales charts.
Luxury brand Genesis fared worse in electric vehicles, with sales of its electric vehicle range falling 42.9 percent, although the brand was up 14.4 percent year-on-year.
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