18 March

Finance for SEA Electric Trucks

Australia has been relatively slower in adopting electric vehicles compared to the global trends. However, a Melbourne-based company, SEA Electric, is making significant strides in the electric truck sector. They have recently commenced production of electric trucks, marking a noteworthy milestone. In March of this year, SEA Electric announced the availability of two electric truck models for purchase.

The first model, SEA 300m, is based on Hino's light-duty 300 Series, while the second model, SEA 500, is derived from Hino's widely popular medium-duty 500 Series. Considering that electric trucks might be a novel concept for many fleet operators, we're delving into various aspects to provide a comprehensive overview for your reference.

Loans for Electric Trucks

The initial concern for many operators revolves around whether there are disparities in financing deals for electric trucks as opposed to conventional vehicles. At Jade Truck Loans, we extend the same array of loan options, featuring our extensive loan portfolio, budget-friendly interest rates, and favorable loan terms and conditions, regardless of whether you’re considering electric trucks or traditional-powered vehicles. Rest assured, our offerings remain consistent and competitive across the board.

Jade Truck Loans portfolio covers:-

Our loans include:-

  • No deposit finance, 100% of the purchase price can be included in the loan
  • Cheap interest rates Truck Finance
  • Fixed interest rates, fixed loan terms, fixed repayments
  • Flexible and negotiable loan terms
  • Finance sourced from a large lender panel to ensure the cheapest loans possible

To obtain a clearer picture of repayment estimates for SEA Electric's electric truck models, you can employ our truck loan calculators. This will allow you to make a comprehensive comparison with what we could potentially secure for you on other types of trucks. The process of applying for a loan for electric trucks remains identical to that of traditional vehicles—you can submit your application through our online form or by phone.

Turning our attention to the electric trucks themselves and the entity responsible for their production, let's delve into the specifics.

SEA Electric: The Company

According to the company’s website SEA Electric is an e-mobility tech company, founded in 2012 here in Australia but with headquarters in California, USA. It has created its own electric power system technology and its first model was launched in 2017. Their truck models including tippers, garbage trucks, tilt trays, delivery trucks as well as vans and buses. Apparently the power system is adaptable to many glider chassis across Class 3 to 8 vehicles.

The company has a presence in many countries and apparently is considered as a market leader in its field.

SEA Electric Truck Models

In collaboration with Hino, SEA Electric has embarked on a partnership that has led to the development and launch of their first branded electric vehicles in the Australian market. These vehicles are now accessible through an established dealer network. At the core of these electric trucks lies the SEA Drive proprietary system, a 100% electric propulsion system designed for commercial vehicles that boasts zero emissions.

In a noteworthy development, the ACT Government incorporated a SEA Electric tipper truck into its EV trial, which spans 12 months. Similarly, Blacktown City Council in Sydney's western region conducted a trial involving a SEA Electric garbage truck, garnering positive feedback from drivers.

While the initial purchase cost of electric vehicles tends to be higher than their conventionally powered counterparts, SEA Electric suggests that the cost differential can be offset through a 2-4 year "payback" period. Additionally, the operational expenses, servicing, and maintenance costs of electric trucks can be substantially reduced. Charging these trucks takes approximately 4-8 hours, yielding a range of 300-350 kilometers. The company has established a nationwide network of dealers and has partnered with NTI to offer roadside assistance. A warranty period of 150,000 kilometers or 3 years is provided.

Reports indicate that SEA Electric received pre-orders for 46 vehicles prior to the March launch, indicating a promising market for these vehicles in Australia. This launch marks a significant advancement, as the SEA system was previously available only as a retrofit. The newly introduced models are manufactured in Australia using a "semi-knocked-down" kit approach, with the SEA Electric power system seamlessly integrated into these Hino-based trucks—a substantial stride in the domestic electric truck manufacturing landscape.

Sourcing an Electric Truck

For those eager to delve deeper into the world of electric trucks and explore this exciting development in Australia, a great opportunity awaits at the Brisbane Truck Show. SEA Electric, a key player in the electric truck industry, is listed as an exhibitor at the event. If you haven’t secured your plans to attend the show yet, mark your calendars for early May and secure your tickets, which are currently available for purchase. This event promises to be an insightful platform for discovering the latest advancements in electric trucks and engaging with industry representatives first-hand.

For details of SEA dealers, they are all listed at SEA Electric Australia and cover several states.

To be ready to order when you arrive at the dealership, speak with Jade Truck Loans about a pre-approved truck loan.

Contact Jade Truck Loans on 1300 000 003 to discuss a truck loan on an electric truck from SEA Electric.

DISCLAIMER: THIS INFORMATION IS ISSUED PURELY FOR THE PURPOSE OF GENERAL INFORMATION PROVISION. IT IS NOT TO BE TAKEN AS THE ONLY SOURCE OF INFORMATION FOR BASING FINANCIAL DECISION-MAKING. THOSE REQUIRING FINANCIAL GUIDANCE AND ADVICE SHOULD CONSULT WITH THEIR FINANCIAL CONSULTANT OR ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY MISREPRESENTATION OF POLICIES, DATA OR ERRORS IN THIS CONTENT.

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