Carly Holdings launches EV Trial program to ease transition to electric vehicles

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By Colin Hay - 
Carly Holdings CL8 ASX electric vehicle EV trial

With Australian electric vehicle (EV) sales expected to hit $3.3 billion this year, car subscription industry specialist Carly Holdings (ASX:CL8) has launched a new product to provide buyers with key information when making decisions on purchasing an EV.

Carly chief executive officer Chris Noone said the Carly EV Trial provides a simple and cost-effective way for car buyers to try an EV before they buy.

“EV Trial is a perfect extension of our existing car subscription product that significantly expands the potential market to high-growth consumer and corporate markets,” Mr Noone said.

“Many people are keen to transition to an EV, but they want to know it is the right decision for them before they make a very expensive and important purchase.”

“It’s not just buying a new car, it’s adopting a whole new technology, vocabulary and set of considerations that take time to appreciate.”

EV sales booming

According to Statista, the projected revenue in the Australian EV market in 2024 is expected to reach $3.3b.

It is anticipated that this revenue will exhibit an annual growth rate of 17.05%, resulting in a projected market volume of $6.2b by 2028.

The EV Trial will utilise vehicles owned by Carly and those provided by OEM partners Hyundai and Genesis and automotive dealers including Hyundai Kona, Ioniq 5 and Ioniq 6, Genesis GV60, MG MG4, BYD Seal and Atto 3 and Cupra Born.

Carly currently has more than 50 EVs in its fleet, which is expected to increase to over 80 by 30 April 2024.

A major component of the Carly EV Trial is the education and support the company offers before and during the experience.

Every Carly EV Trial also includes a free 200kWh charge pack that can be used at any of the 1,500 Chargefox charging locations across Australia.

Carly says it is in discussions with several potential commercial partners aligned to the EV market to promote the EV Trial concept to their customer bases.

Strong start to 2024

The new product comes after Carly revealed in early February that it had recorded an exceptionally strong start to 2024 with record results for cash receipts and subscriber growth and a strong uplift in fleet utilisation.

Fleet size had continued to increase as new vehicles ordered in December are progressively delivered.

24 of the 109 vehicles ordered in December 2023 have been delivered to date, with 18 of those deliveries occurring in January 2024.

Additional asset light vehicles have also been received, bringing the total fleet size to 400 vehicles.