An Australian bank is encouraging drivers to switch to EVs by refusing to offer loans for the purchase of ICE vehicles after 2025.
Bank Australia, which is owned by its 185,000 customers, said it would no longer lend people money to buy new combustion-engined cars, trucks and SUVs because it doesn’t want to “lock our customers into higher carbon emissions and increasingly expensive running costs.”
But the bank conceded it would still offer loans for second-hand ICE-powered machines because it realized that not everyone could afford a new EV. Which hopefully means delivery-mileage Porsches, Lamborghinis, Ferraris and BMW M cars should still be fair game (even if the police using them isn’t).
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