A progressive-focused Australian bank has announced it will automatically decline loan applications for customers trying to buy petrol-powered vehicles.
Bank Australia, formally Bankmecu, says it will now only fund loans for fully electric vehicles.
Bank Australia to Reject Loans for Petrol and Hybrid Cars
The move comes as new EV car sales begin to stall.
A sign directing towards electric vehicle charging points is seen in a car park in Manchester, Britain, dated Sept. 8, 2023. REUTERS/Phil Noble
Crystal-Rose Jones
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Crystal-Rose Jones is a reporter based in Australia. She previously worked at News Corp for 16 years as a senior journalist and editor.
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