Australia Institute Welcomes NSW Nation Leading EV Strategy

The Australia Institute has welcomed the New South Wales Coalition Government’s Electric Vehicle Strategy released today.

The NSW Government electric vehicle strategy includes:

  • $3,000 rebates on the purchase of 25,000 new EVs under $68,750,
  • Exemption from stamp duty for EVs below $78,000 from September 2021 and all EVs from 2027,
  • A deferral of their EV tax of 2.5c/km until 2027 or when EVs make up at least 30% of new car sales.

“New South Wales has shown other states what a genuine electric vehicle strategy looks like,” said Richie Merzian, Climate & Energy Director at The Australia Institute.

“When combined, this rebate and stamp duty exemption should reduce the upfront cost of a fully electric Hyundai Ioniq in NSW by around $4,500, to $44,500.

“New South Wales and Victoria both had intentions for an EV tax, but only New South Wales listened to industry and the experts and have now deferred their tax until later this decade.

“The race is now on between jurisdictions like NSW and the ACT to become the hub of EVs in Australia.

“Purchase incentives, stamp duty exemptions, infrastructure investment and deferring an EV tax all show that the NSW Coalition Government understands that we need to transition our vehicle fleet to the clean, healthy technologies of the future. The only thing missing is a clear 2030 target for EV uptake, which should be at least 50% of new vehicle sales.”