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The Clean Energy Finance Corporation (CEFC) is committing $20 million to add about 500 more electric vehicle units to Australian car hire platform Splend. This will bring the latter’s EV fleet to 1000 units by the end of the year.

According to the CEFC, this is the first time that it has backed a clean energy solution specifically targeting rideshare drivers, who can cover as much as 60,000km each year.

As part of the agreement, rideshare drivers will be able to enter a flexible short- or long-term vehicle subscription.

“Decarbonising Australia’s car fleet and transitioning fleet vehicles to EVs represent an important opportunity to further accelerate the decarbonisation of the transport sector,” says CEFC chief executive Ian Learmonth.

“High kilometre drivers like those in the rideshare services industry can lead the electrification of Australia’s transport sector, which will also require increased investment in our charging infrastructure to meet demand as momentum in the transition to EVs builds,” Learmonth explains.

“Due to the significant distance that rideshare vehicles travel, transitioning this fleet to EVs marks a significant opportunity to cut transport emissions.”

Meanwhile, sccording to Chris King, the CEO of Splend, the company’s goal is to take the lead in guiding rideshare towards a sustainable future and providing cost-effective vehicle subscription options for on-demand drivers.

With a significant number of rideshare vehicles in Australia, where only 1% are electric vehicles (EVs), and serving millions of Australians weekly, King emphasizes the immediate need to prioritize the decarbonization of this sector.

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