The electric car revolution is about to take off in NSW.
The NSW Government is leading the electric revolution in Australia with a $490 million dollar investment in the NSW Electric Vehicle Strategy, with the goal for battery-powered cars to account for more than half of all new car sales by 2031.
Ahead of this week’s 2021-2022 budget, the NSW Government has unveiled a plan to cut taxes, incentivise uptake and reduce barriers for electric vehicle purchases.
The $490 million in funding and tax cuts will include:
- $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 assist regional tourism, and $20 million for charging infrastructure at public transport hubs on Transport for NSW owned land.
- Stamp duty will be waived for eligible electric vehicles (battery and hydrogen fuel cell vehicles) priced under $78,000 purchased from 1 September 2021;
- Rebates of $3,000 will be offered on private purchases of the first 25,000 eligible EVs (battery and hydrogen fuel cell vehicles) under $68,750 sold in NSW from 1 September 2021;
- $33 million to help transition the NSW Government passenger fleet to EVs where feasible, with the target of a fully electric fleet by 2030. These vehicles typically are onsold after three to five years, providing availability for private buyers in the second hand market.
Energy and Environment Minister Matt Kean said we need to give drivers more options to make their next car an EV.
“Countries and car makers around the world are moving to EVs and NSW consumers deserve access to the latest vehicle models when they go to buy a car,” Mr Kean said.