Media Release Teachers Mutual Bank drives into an electric car future Talk to us Phone us Email us Breadcrumbs Teachers Mutual Bank About us Media releases Media releases 2013 Media Release 26 September 2013 26 September 2013 Teachers Mutual Bank drives into an electric car future Teachers Mutual Bank has strengthened its already significant commitment to sustainability, by purchasing an electric car for its HQ fleet use. The ‘game-changing vehicle’ is a Long Range Holden Volt electric car, which is free of the normal range anxiety, having two power sources and a total driving range of 600km. ”We continually manage our environmental footprint, and utilising this innovative technology is another way of putting our sustainability money where our mouth is,” said Steve James, CEO of Teachers Mutual Bank. As its HQ fleet vehicle, the Teachers Mutual Bank car will be used throughout urban and suburban Sydney. Because it’s state-of- the-art, with no outward signs that it’s battery electric, the mutual bank has added the livery ‘This car is electric’ to spread the message that it’s a touch-point of sustainability in action. “The Teachers Mutual Bank electric car will be visible to thousands of people as our staff drive it between our offices and to schools around greater Sydney, and our aim is to send a positive message about practical environmental solutions.” The Volt is not a hybrid, it is a battery electric car with an on-board generator, and is designed to spend most of its life being propelled by battery power alone, powered by General Motors’ revolutionary electric propulsion system with a 16.5kWh lithium ion battery that provides an electric charge of 87km. “We just plug the car in and charge it like a mobile phone. A typical 60km a day commute means that the purchase of petrol is generally unnecessary. The electric car will be 100% carbon neutral, as any minor additional fuel use will be offset,” said Steve James. Quick facts There are 11 million cars in Australia, and 600 electric cars. The Volt has an electric drive motor of 111kW and generator motor of 55kW on two wheels front drive. A 1.4 litre petrol engine extends the range by 600km by maintaining a charge in the battery to power the wheels. The fuel tank is 35.2 litres capacity. Teachers Mutual Bank and sustainability As a mutual bank, we believe that profit has a purpose. In the past 12 months, we’ve continued to improve our organisational performance to become a national and international leader in sustainability. Highlights include; named ‘Best Bank in Socially Responsible Performance’ in the prestigious Asia-Pacific Banking and Finance Awards. achieved Gold status (90%) in the Corporate Responsibility Index (CRI), a leading benchmark of corporate responsibility for business. named a global leader in the London Benchmarking Group (LBG) Index for spending 4.2% of profits on community investment. This is over ten times the financial sector average. Further information: Gillian Tatt, PR and Corporate Affairs Specialist, Teachers Mutual Bank, on 02 9735 9825 and 0448 259 942. Back to top.