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Billionaire s $20m bet on importing affordable EVs

Trevor St Baker s $20m TrueGreen Mobility stake to boost EV sales

Updated Save Share Energy investor Trevor St Baker has sunk $20 million into another e-mobility venture, TrueGreen Mobility, which is set to launch electric cars into the Australian market for less than $35,000 in a move that could accelerate their slow take-up. The cars will be imported into Australia from Chinese automaker BYD, the company backed by US billionaire investor Warren Buffett, and will be displayed in a public sales showroom in Sydney within months. The investment comes less than a week since the news that Tritium, an EV fast charger technology company that is also supported by the St Baker Energy Innovation Fund, will list on Nasdaq with a $2 billion-plus valuation thanks to a deal with a US blank cheque company.

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