New South Wales announces massive EV incentive package

Electric vehicle lovers are in for a good time in New South Wales, Australia. The state has revealed a massive new EV incentives that is worth half a billion dollars. The incentives comprise tax exemptions, rebates and traffic avoidance perks.

New South Wales is simply giving its residents no reason to not switch as the whole package is among the best in the world. The incentives go into effect on September 1st.

The most obvious is the stamp duty exemption on electric vehicles that cost less than $78,000 AUD. This is usually 3-5% of the cost of any new or used vehicle, collected at purchase.

Residents who buy the first 25,000 new electric vehicles in the state will get a further $3,000 rebate, as long as the vehicle costs less than $68,000.

At these price points, many electric vehicles are expected to qualify, especially the base models, which gives the residents of the state many options to choose from actually.

Whatever model bought, the driver will be eligible for the carpool lane incentive that allows them use dedicated 2- and 3- passenger carpool lanes during rush hour traffic.

The state has allocated AUD$171 million for charging infrastructure, with most of it going to DC fast charging stations. The chargers would be installed at less than 100 km intervals along major highways and 5 km on major roads in Sydney. Destination chargers will also be installed on properties belonging to the state’s public transit agency. The state wants to ensure that every household is less than 5 km away from a charger.

New South Wales is leading by example as it is going to spend more than $30 million on switching government vehicles to electric.

Energy and environment minister Matt Kean said “We know that with new cars staying on the road 15 years on average, the vast majority of new cars sold in NSW need to be EVs by 2035 to achieve net zero emissions by 2050. Our aim is to increase EV sales to more than 50% of new cars sold in NSW by 2030 and for EVs to be the vast majority of new cars sold in the state by 2035.”

He added that he would like to see New South Wales become the Norway of Australia, as the Nordic country is one of the most advanced countries when it comes to electric mobility.