An Aussie Start-up for Cheap Secondhand EVs Just Scored $10M in Funding, and of Course Mike Cannon-Brookes Is Behind It

An Aussie Start-up for Cheap Secondhand EVs Just Scored $10M in Funding, and of Course Mike Cannon-Brookes Is Behind It

Boundless, a philanthropic foundation founded by Mike Cannon Brookes and other climate conscious members, has invested in The Good Car Company, a Tasmania-based start-up focused on bulk-buying cheap EVs from overseas to resell in Australia.

As reported first by The Guardian, the $10 million investment is the first that Boundless has ever issued. The purpose? To make electric vehicles cheaper.

“To be the recipients of Boundless’ first ever investment is absolutely fantastic,” said Anthony Broese Van Groenou, a co-founder and director of The Good Car Company.

“Boundless wants to enable Australia to become a renewable energy superpower by 2030 and has invested in us as part of making that happen!”

The Good Car Company is an interesting start-up. Founded in 2019, the entire idea is based on allowing for a cheaper, easier switch to electric vehicles by functioning as an online ordering company for imported, secondhand EVs. It claims to be Australia’s largest importer of secondhand electric vehicles.

The cars are sourced from Japan and the UK, with orders reliant on community-led “bulk buys”, where secondhand EVs can be ordered in bulk and shipped to specific parts of the country. One is currently being performed in North Sydney.

Scanning through the website at the time of writing, the prices make me very excited as an inner city renter without the cash to spend on a Tesla Model 3:

  • The cheapest EV listed is $21,990
  • Most of the stock are Nissan Leafs, the oldest dating back to 2013
  • Their kWh capacity and odometer range is listed, along with range estimates
  • The most expensive car is an imported Peugeot e-Expert electric van for $85,236.

For comparison’s sake, the cheapest new EV in Australia, the MG ZS EV, costs $44,990. The price difference between that and these secondhand cars is quite stark. Additionally, although you can buy a secondhand EV the same way you might buy a secondhand ICE car, this website gives you another option, with a battery/warranty guarantee and a budget-focused approach.

Cannon Brookes’ unicorn has also been busy. As we reported earlier this week, Atlassian is going on a recruitment drive to try and bump up tech workers across the country.

But we’re getting off track. Coming back to this investment, it’s going to mean big things for The Good Car Company.

In particular, the amount of cars imported is set to increase tenfold, from 200 cars per year to 2,000 per year.

Additionally, the announcement says that the money will help The Good Company deliver to more parts of the country and help with the speed of the transition to electric vehicles.

“Australia is comparatively under-served by availability and affordability of EVs,” added co-founder and director, Sam Whitehead.

“We’re so excited to be able to bring more cars, to more people; empowering them to take control of what is often the most significant chunk of their household emissions budget.”

Good on these guys and their start-up. I wish an idea like this, that helps low-income drivers and helps keep our planet from burning, all the success in the world.

You can learn more about The Good Car Company on its website or read the press release online.

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