The Albanese Government is unlocking $20 million in concessional finance from the Clean Energy Finance Corporation (CEFC) to radically boost the number of EV’s used in rideshare fleets, like Uber.
The CEFC will provide $20 million to enable Splend, the biggest rideshare vehicle subscription provider in Australia, to double the number of electric vehicles (EVs) it offers on its flexible vehicle subscription plans.
This will bring Splend’s EV fleet to 1,000 EVs by the end of 2023, and means an extra 500 rideshare drivers, will be able to save around $100 every week on vehicle costs, fuel, and servicing.
Minister for Climate Change and Energy, Chris Bowen said the investment was excellent value because rideshare cars rack up a lot more kilometres than regular cars.
“Rideshare vehicles cover five to six times the distance of an average privately-owned car,” said Minister Bowen. “This is about making cleaner, cheaper to run more accessible for rideshare workers.”
“By encouraging more EVs in rideshare fleets, we’ll be able to reduce transport emissions in Australia. Fleets make up around half of all vehicle sales, so this initiative is a big deal, as well as boosting the market for second-hand EVs.”
“This builds on the work the Albanese Government has already done to drive up EV uptake, including our EV tax cut, and launching Australia’s first National EV Strategy give more Australian families and businesses access to cleaner, cheaper-to-run vehicles.”
Since starting their EV rollout in late 2022, Splend has become Australia’s top EV rideshare operator. Their fleet has travelled over 6.2 million kilometres and saved 1,000 tonnes of CO2 emissions.
Instead of buying an EV, drivers pay a weekly fee for a subscription and get access to a more affordable vehicle. Drivers will also have the option to own the vehicle when their subscription is up.
