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National

Jennifer Dudley-Nicholson

Discount loans to drive down the price of electric cars

Hyundai electric vehicle Kia

Loans for some new electric vehicles will become cheaper through energy subsidies on car loans. (Jono Searle/AAP PHOTOS)

Motorists will be offered another incentive to choose electric over petrol through a $60 million program to cut the cost of car loans.

The Climate Energy Finance Corporation announced the scheme in partnership with Hyundai on Tuesday, revealing it could reduce a $70,000 loan by more than $1900 over five years.

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