$105 MILLION ‘PLUG-IN’ FOR ELECTRIC VEHICLE FLEETS

Road trips and ridesharing are set to become electric, with the New South Wales Government announcing $105 million worth of new incentives to drive up electric vehicle (EV) purchases for commercial and council fleets.

Treasurer and Minister for Energy and Environment Matt Kean is encouraging fleet operators to reduce their emissions and save money by switching their fleets to EVs.

“NSW is on track to have EVs make up more than half of new cars on the road by 2030, thanks to the NSW Government’s nation-leading Electric Vehicle Strategy – which has now been bolstered to $595 million,” Mr Kean said

“Fleet buyers make up about 50 per cent of new vehicle sales and usually sell them after three to four years, creating a great opportunity for us to increase the second hand EV market for the whole community.

“EV’s are cheaper to run, quieter on our roads, reduce air pollution and are better for our health – all great reasons why we want more and more people enjoying electric vehicles right across our State.”

Fleet operators will be able to reduce their emissions by an average of five tonnes of CO2 per vehicle and save up to $3,100 on annual running costs compared to an internal combustion engine.

“Whether you’re a hire car operator, in the delivery business or own a construction company, these new fleet incentives will make it easier for your business to transition to EVs while enjoying the benefits of reduced costs and emissions,” Mr Kean said.

The NSW Government’s Electric Vehicle Strategy was announced in June, with an initial investment of $490 million. It also includes:  

·         Waiving stamp duty for eligible electric vehicles (battery and hydrogen fuel cell vehicles) priced under $78,000 purchased after 1 September, 2021;

·         $3,000 rebates offered on private purchases of the first 25,000 eligible EVs (battery and hydrogen fuel cell vehicles) under $68,750 sold in NSW after 1 September 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 assist regional tourism, and $20 million for charging infrastructure at public transport hubs; and

·         $33 million to help transition the NSW Government passenger fleet to EVs where feasible, with the target of a fully electric fleet by 2030.

The first round of the EV fleets incentive will open on 30 November 2021. The incentives will be delivered through a reverse auction process, with bidding rounds open approximately every six months until the end of 2024.

Fleet operators can register their interest and access the fleet incentive guidelines at energysaver.nsw.gov.au/EVfleets