The provided episode details a major policy shift by Bank Australia, which has completely ceased lending for new petrol, diesel, and hybrid cars as of February, focusing exclusively on financing electric vehicles (EVs). This strategic move is intended to spur growth in the bank's small vehicle lending portfolio and align with its broader climate goals, including achieving net zero emissions by 2035. While the bank acknowledges the current affordability issues for some consumers, it still offers higher-interest loans for used internal combustion engine (ICE) vehicles to avoid contributing to new fossil-fuel cars on the road. The source highlights that this transition is supported by the growing availability of more affordable EV models in the Australian market, which is expected to accelerate the move away from ICE vehicles. Furthermore, the shift has generated mixed public reaction, with some users online criticizing the bank for "playing politics," while others support the bank for adhering to its ethical branding.If you enjoyed this episode and found it helpful, please consider supporting the podcast with a donation at https://buymeacoffee.com/emotorselectricrevolution. Every contribution helps us create quality content and share valuable insights. Don’t forget to follow the channel so you won’t miss future episodes. Thank you so much to all our listeners!
