We’re pleased to share that a new $70 million financing initiative between the Clean Energy Finance Corporation (CEFC) and Volvo Group Australia represents a significant step forward in removing cost barriers that have traditionally slowed the uptake of electric trucks. 

As the transition to electric trucks is accelerates across Australia, this partnership offers Victorian operators a clearer, more practical and affordable pathway to a future of zero-emissions transport. We are proud to support this next phase of sustainable transport by helping companies understand more about the many benefits of Volvo’s electric vehicle range. 

We understand that one of the biggest challenges facing companies looking to purchase electric trucks has been the upfront cost and uncertainty around long-term residual values. The CEFC-backed funding package directly addresses these concerns by offering eligible customers discounted finance and residual value support when leasing medium and heavy-duty electric trucks, as well as ongoing support for charging infrastructure. 

By reducing financial risk, this approach is designed to bring total cost of ownership closer to that of diesel alternatives, making electric trucks a more viable option for a wider range of operators. 

For many Victorian businesses, this removes a key hurdle and opens the door to real-world adoption rather than future planning.

Volvo Group has been at the forefront of electric truck development globally and offers one of the most comprehensive electric truck line-ups available in Australia, all available from CMV Truck & Bus. 

This includes models such as the Volvo FL Electric, FE Electric, and heavier-duty electric solutions suited to urban distribution and regional applications. 

Volvo’s commitment to manufacturing electric trucks locally in Australia from 2026 reinforces long-term supply confidence, support capability and parts availability – important factors for companies making long-term investment decisions. 

Volvo Group Australia President and CEO Martin Merrick said, “The announcement of this finance comes at a critical time for Australia’s net zero ambitions. We know the cost of entry is a significant hurdle to overcome for many of our customers wanting to take the first steps towards implementing electric transport solutions in their businesses.”

For many companies, the shift to electric is not about replacing every vehicle overnight. It is about identifying the right applications – such as metropolitan freight, waste and construction support – where electric trucks can deliver immediate value.

Electric trucks offer lower operating and maintenance costs, reduced noise, zero tailpipe emissions and an improved driver experience. When combined with CEFC-supported finance and Volvo’s proven electric platforms, they represent a compelling option for businesses looking to decarbonise without compromising productivity.

Transport is on track to become Australia’s largest source of emissions by 2030, and heavy vehicles play a critical role in the freight task. Initiatives like this signal a collaborative approach between government-backed finance, vehicle manufacturers and dealers, like CMV Truck & Bus to accelerate change at scale. 

Volvo Financial Services Managing Director David McGuire said, “This program is designed to make the transition more affordable, allowing more of our customers to take that first vital step towards a fossil-free future for the benefit of all Australians. 

“I have no doubt that working with the CEFC will act as a key enabler that will help drive the uptake and adoption of heavy electric vehicles.”

At CMV Truck & Bus, we work closely with our customers to translate innovation into practical outcomes. From vehicle selection and financing pathways, to charging considerations and ongoing support, we are committed to making our customer’s transition to electric trucks simpler, achievable and commercially sound.

If you’re considering how electric trucks could fit into your fleet, the CMV Truck & Bus team are ready to help you take the next step. For further information, please contact Joe Di Santo, Market Development Manager at CMV Truck & Bus joe.disanto@cmvtb.com.au 

Read the full CEFC press release here.

Read the Volvo Press Release here: “Volvo Financial Services launches Electric Ready Lease”