Car news today: Federal Government lowers cost of EV ownership with reduced-interest loans, Deepal S07 now officially on sale and in showrooms – 18 December 2024

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Thanks for joining us this Tuesday December 17th 2024. The Federal Government to offer EV ownership incentive from January 2025, Deepal S07 now officially on sale and in showrooms, first shipment of BYD Shark 6 utes en route to Australia, and more.

Browse this issue: 

Australian Government announces scheme to lower cost of EV ownership

• The Commonwealth Government has introduced $150 million dollars worth of low-interest loan incentivisation for potential EV owners. This applies to those making less than $100,000 per year as well as essential workers.  

• This scheme is backed by the Commonwealth Bank, and is said to cut five percent off a regular new vehicle loan. This translates to an estimated savings of approximately $8000 on a $40,000 loan running over a seven-year loan period. 

• These low-interest loans are for new or used EVs as well as EV charging equipment for households, and have been capped at $55,000. 

• Announcing the scheme to the media today, was Minister for Climate Change and Energy, Chis Bowen. “Discounted loans help remove barriers to ownership, helping more Australians drive cars than can save them thousands of dollars a year,” he said. 

Deepal S07 now officially on sale and in Australian showrooms 

• Deepal Australia has just revealed its S07 electric SUV is now in Australia. The first of their vehicles rolled out of the docks in Melbourne during this week. 

• The vehicles are available to test drive in four retail locations set up in Parramatta, Artarmon, North Melbourne and Doncaster across the east coast.   

• Pricing starts at $53,900 for the S07, which is powered by a 79kWh battery that provides a claimed range of 475 kilometres. 

• As part of the deal, Deepla is offering 12 months of unlimited complimentary charging across the EVIE charge network, if you purchase and have a vehicle delivered by the 31st of January 2025.   

First shipment of BYD Shark 6 enroute to Australia after 4000 orders placed  

• Customers who have put an order in for a BYD Shark 6 can expect them to start arriving in the new year. 

• First shipment of demonstrator models is slated to arrive in January 2025, with 2500 units to leave China soon after. 

• As reported earlier, BYD’s Australian distributor, EV Direct, claimed to have 4000 orders on the Shark 6 in November, showing there is demand for the Chinese ute. 

• Pricing starts at $57,990 plus on road coast for the BYD Shark 6, making it a sharp value proposition for potential new ute buyers. 

Honda and Nissan to begin merger discussion

• Reports in the Japanese media reveal that Nissan and Honda have had discussions regarding a potential merger. 

• This is after an agreement was made in March 2024, seeing both vehicle manufacturers co-develop strategies surrounding electric vehicles.  

• Nikkei newspaper reported recently that Honda and Nissan are in discussion to prop up Nissan, with the assistance of Mitsubishi Motors, allowing these three companies to remain competitive against the influx of EV manufacturers entering the market.  

• Although details are thin, this is an official quote provided by both companies: “As announced in March of this year, Honda and Nissan are exploring various possibilities for future collaboration, leveraging each other’s strengths.” 

2025 Volkswagen ID Buzz Cargo review 

• Chasing Cars contributor, Nathan Ponchard, had his launch review article and video of the new Volkswagen ID Buzz Cargo published.  

• This is off the back of yesterday’s published review from Ponch of the retro-inspired Volkswagen ID Buzz Pro people mover. 

• What he liked about the ID Buzz Cargo is how much fun it is to drive, the overall feeling of sophistication for a cargo van, and a great ride quality – the best in the ID Buzz range according to Ponch. 

• Where it could be improved is the pricing is up there, load carrying capacity isn’t class leading and it can only tow 1200kg. 

Read: Link to written review 

The next issue of Car News Today will be published on Friday 20th December at 4.30pm Sydney time.