Fijians now have access to affordable electric vehicles following the signing of a Memorandum of Understanding between Fiji Development Bank (FDB) and FMF Electric Vehicles PTE Limited.
FDB Chief Executive Officer Filimone Waqabaca announced that the bank will offer EV loans at an interest rate of 3.99%, with financing up to $200,000 over a maximum term of seven years. This makes it one of the most competitive vehicle loan options currently available in Fiji.
FDB Chief Executive Officer Filimone Waqabaca said, “Fiji, like many small island developing states, remains on the frontline of climate change, with rising fuel costs and environmental vulnerabilities driving the need for cleaner and smarter transport solutions.”
He added, “This EV loan scheme is part of our expanded green financing initiatives, including renewable energy support and energy-efficient investment products.”
FMF Marketing Manager Maria Kumar, speaking on behalf of CEO Sanjay Punja, stated, “This collaboration goes beyond vehicle sales and focuses on making sustainable transport accessible, practical, and affordable. It will give consumers confidence to invest in 100 percent electric vehicles while contributing to reduced emissions and lower fuel dependency.”
FMF Electric Vehicles General Manager Reshmani Murti addressed rural concerns, saying, “The vehicles have been tested on rural road conditions and perform similarly to petrol-powered cars. Entry-level models can travel up to 330 kilometres on a full charge, with battery life lasting up to 6,000 full charge cycles.”
The partnership aims to enable families, businesses, and communities to transition to electric mobility while supporting long-term savings, energy efficiency, and environmental responsibility.
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