Press release

Volvo Financial Services launches Electric Ready Lease

2025-12-15

In conjunction with the Clean Energy Finance Corporation (CEFC), Volvo Financial Services has unveiled a new offering tailored specifically Volvo electric trucks. The $70 million finance package backed by the CEFC aims to lower barriers of entry for transport businesses of all sizes to encourage adoption and uptake of zero emissions heavy vehicles.

Left to right: Tom Chapman (Vice President Volvo Sales & Marketing, Volvo Group Australia), David McGuire (President and Managing Director, Volvo Financial Services Australia), Martin Merrick (President and CEO, Volvo Group Australia), The Hon Chris Bowen MP (Minister for Climate Change and Energy), Shylie Mackenzie (Vice President Public Affairs, Volvo Group Australia), David Bertini (Director of Sales & Market Development, Volvo Financial Services Australia).

Key features of the Electric Ready Lease by Volvo include:

An interest rate discount of up to 0.5 per cent for eligible Volvo Trucks’ customers to lease medium and heavy duty electric trucks including leasing of EV Chargers.
Finance for residual value support to reduce operating lease costs and support the future value of the Volvo electric trucks under lease.

Volvo Group Australia has committed to manufacture Volvo electric trucks at its Queensland production facility as part of its broader sustainable manufacturing plans. The company has produced more than 80,000 trucks since it began manufacturing at Wacol in 1972.

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.”

Volvo Financial Services Managing Director David McGuire added: “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.”

Transport accounts for up to 22.3 per cent of Australia’s national emissions and is the fastest growing source of emissions.

Road transport makes up 84 per cent of all transport emissions. However 34% of Australia’s transport task is urban distribution, A sector ideal for electric vehicle applications.

Volvo Financial Services is the captive finance arm of the Volvo Group, providing financial services and solutions that meet the needs of our customers today and into the future. Dedicated to innovation, VFS is supporting society in its adoption of sustainable transport and equipment solutions. VFS is headquartered in Gothenburg, Sweden, and serves Volvo Group customers and dealers in more than 40 markets. For more information, please visit www.volvofinancialservices.com or follow us on LinkedIn.

The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers’ uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 180 markets. In 2024, net sales amounted to SEK 527 billion (EUR 46 billion). Volvo shares are listed on Nasdaq Stockholm.