Aussie bank pledges all-electric vehicle fleet by 2027

Teacher’s Mutual Bank has announced the entirety of its vehicle fleet will be zero-emissions by 2027, and the cars in question will comprise 31 Kia Niro EVs (priced from $65,300 for private buyers) and a pair of yet-to-be-confirmed electric utes.

The bank has budgeted $100,000 for the purchase of the electric pick-ups, which are presently few and far between on the Australian market, where just one is currently available – the $92,990 LDV eT60.

That’s for the time being though – plenty more options are tipped to arrive between now and 2027 and it just so happens Teacher’s Mutual Bank isn’t expecting to take delivery until that transition deadline.

The all-electric switch forms part of a $2 million sustainability project which will also see a dozen EV chargers installed (in total) across the bank’s Sydney, Brisbane and Perth offices, for both staff and customers to charge their vehicles.

All the on-site chargers will be powered by 100 per cent renewable energy and available for customers to use free of charge.

“We’ve crunched the numbers and it just makes sense to go 100 per cent EV,” Teacher’s Mutual Bank boss Corin Millais said.

“Cars contribute 10 per cent of Australia’s greenhouse emissions, and company fleet cars are 50 per cent of sales – car fleets also play a huge role because they act as an important feed for the second-hand car market.

“If company fleets move fast to 100 per cent EVs… this will allow consumers to access cheaper EVs more quickly.”

This is hardly the first time we’ve heard of a corporate or government fleet making the move to zero-emissions technology, but it does mark a significant milestone in the future availability of affordable EVs, given the bank is planning a seven-year service life for its new Niro EVs – coinciding with the compact SUV’s warranty.

High miles and an expired warranty might not sound appealing, but the significantly lower resale value will undoubtedly appeal to younger private buyers, especially those in the market for their first car.

This is a key focus of the federal government’s national EV strategy released last month, along with improving EV accessibility; the more EVs inducted into fleets, the more used examples become available down the line.

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