“Petrol retailing and refining giant Ampol has landed another $100 million from the federal government to help roll out a further 200 electric vehicle fast charging bays by 2025, and to pursue efforts on renewable fuels and other technologies.
The new funds are being delivered as a loan through the Clean Energy Finance Corporation (CEFC), and will also support hydrogen refuelling infrastructure, (if it can find any hydrogen cars), and solar PV installations at its retail and charging sites.
Ampol has previously landed grants from both the NSW state government and the Australian Renewable Energy Agency to begin its rollout of EV fast charging stations under the AMPCharge brand.
However, it fell well short of its target of reaching more than 180 charging bays by the end of 2023, with just 82 charging bays installed across 36 sites. In the company’s 2023 annual report, it blamed delays with grid connections and landowners.”
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If electric cars are so cheap, then why is the Government lending taxpayers money at a subsidised rate to a Foreign Multinational.
$100 million for 200 charging stations works out at $500,000 per station. This does not seem viable.
You can bet your bottom dollar these loans won’t be repaid in full, if at all.
