Banks boost green loans as companies switch car fleets to EV

Two of Australia’s largest banks have recorded a three-fold annual increase in business loans for electric vehicles as companies increasingly make the switch to a greener fleet. National Australia Bank’s executive general manager of specialised banking, Julie Rynski, said cheaper loans, a greater range of EVs and government incentives was prompting the growth. Tesla remained the most popular EV make last year, followed by BYD and Cupra, according to NAB. Credit: iStock “Everyone’s trying to do their bit to make investments to reduce their carbon footprint,” Rynski said. “We’re expecting to see a further increase as the technology…