Bank announces 100% EV Electric Vehicle Car fleet by 2027, bans fossil-fuelled cars
TMBL more than doubles our previous climate investment with $2 million investment in a 100% EV corporate car fleet by 2027.
TMBL more than doubles our previous climate investment with $2 million investment in a 100% EV corporate car fleet by 2027.
- $2 million investment in a 100% EV corporate car fleet by 2027. Over six years, from 2022 to 2027, for 31 EVs and 12 charging stations at four Bank offices in Sydney (Homebush and Rooty Hill), Brisbane, and Perth, plus 2 EV utes.
- Ban on purchasing fossil fuel cars. In 2022, the last petrol car was purchased by the Bank and fossil fuel fleet cars were down to 34 from a peak of 60 in 2018, largely due to COVID-19.
- EVs more cost effective than Fossil fuel cars over 5 years. The business case for a 100% EV switch of 31 EVs is more cost effective with a phased fleet transition over five years. Whilst an EV is 1.7 times more than a petrol car, ($63,298 vs $38,233) running costs are far lower ($7,000 vs.$49,336).
- The EVs will run on 100% renewable electricity when charged at the office, however when charged at home or elsewhere it will be from the grid which is about 24% renewables.