NSW leads the charge with the REV-OLUTION electric vehicle
New South Wales will be the best place in Australia to buy and drive an electric vehicle (EV) as part of the NSW Government’s National Electric Vehicle Strategy, with an investment of nearly half a billion dollars in tax cuts and incentives to drive an electric revolution.
Treasurer Dominic Perrottet said $ 490 million was committed in New South Wales’ 2021-22 budget to cut taxes, drive adoption and lower barriers to purchasing electric vehicles over the years. next four years.
“Our overall strategy is to make sure we have the right mix in place to drive the adoption of electric vehicles while ensuring that everyone who drives our roads contributes to their funding and maintenance,” said Mr. Perrottet.
âOur strategy also initiates a major long-term tax reform. Today we begin the process of phasing out the stamp duty on electric vehicles and a deferred transition to a fair and sustainable road user charge per kilometer for electric vehicles.
“Starting in September of this year, we will remove the stamp duty for qualifying electric vehicles under $ 78,000 and rebates of $ 3,000 will be available for the first 25,000 buyers of battery and battery electric vehicles. hydrogen fuel less than $ 68,750.
“From young adults saving for their first car in West Sydney to retirees planning a road trip to Broken Hill, these incentives will make electric vehicles accessible and affordable for all New South Wales residents.”
Transport and Roads Minister Andrew Constance said the EV strategy will help the NSW government take action on climate change.
“Our transport sector currently accounts for 20 percent of state emissions, of which nearly 50 percent comes from passenger vehicles,” said Mr. Constance.
âElectric vehicles are not only cheaper to drive and quieter on our roads, but they also reduce carbon emissions and air pollution, dramatically improving the health of our communities.
âAs the global right-hand drive market evolves towards the manufacture of electric vehicles, we must ensure that we have the policies in place to give the industry the green light to increase model availability and reduce prices. ‘Entrance.
“The average driver in NSW will save about $ 1,000 per year in operating costs by switching to an electric vehicle, and those savings can be as high as $ 7,500 per year for businesses, taxis and freight.”
Energy and Environment Minister Matt Kean said we need to give drivers more options to make their next car an EV.
“Countries and automakers around the world are turning to electric vehicles and New South Wales consumers deserve to have access to the latest vehicle models when they buy a car,” said Mr Kean.
“We also know that with new cars staying on the road for an average of 15 years, the vast majority of new cars sold in NSW must be electric vehicles by 2035 to achieve net zero emissions by 2050. .
âOur goal is to increase EV sales to over 50% of new cars sold in NSW by 2030 and for EVs to account for the vast majority of new cars sold in the State of here 2035.
âThis national plan will help us meet those goals by addressing the three biggest barriers to buying an electric vehicle – range anxiety, upfront cost and model availability – and should see sales of new electric cars will reach 52% by 2030-31. .
“We want new, cheaper electric vehicle models to be available here in NSW and this strategy is designed to achieve that result.”
The $ 490 million in funding and tax cuts includes:
- The stamp duty will be waived for eligible electric vehicles (battery and hydrogen fuel cell vehicles) priced below $ 78,000 purchased as of September 1, 2021;
- Discounts of $ 3,000 will be offered on private purchases of the first 25,000 qualifying electric vehicles (battery and hydrogen fuel cell vehicles) under $ 68,750 sold in NSW from September 1, 2021 ;
- $ 171 million for new charging infrastructure across the state. This includes $ 131 million to spend on new ultra-fast vehicle chargers, $ 20 million in grants for destination chargers to help regional tourism, and $ 20 million for charging infrastructure at public transport hubs. on land owned by Transport for NSW.
- $ 33 million to help transition the NSW Government’s passenger fleet to electric vehicles, where possible, with the goal of a fully electric fleet by 2030. These vehicles are generally resold after three to five years, thus providing availability to private buyers in the used market.
The Strategy is based on State programs Net zero plan step 1: 2020-2030 and Future Transport Strategy 2056.
For more information visit: nsw.gov.au/electric-vehicle-reform