Victoria extends EV purchase subsidies
State government gives more Victorians the chance to capitalise on electric vehicle incentivesThe Victorian state government has committed $7.2 million to the extension of its electric vehicle purchase subsidy program, resulting in the availability of $3000 rebates for another 2600 EV buyers.
The move comes after a positive response to the initial batch of 20,000 subsidies available to those who purchase an electric vehicle with a retail price of up to $68,750.
In a press release issued at the weekend, the state government said more than 4000 Victorians had taken advantage of the program since May last year, helping push up EV sales by 310 per cent in 2021 compared to 2020.
The biggest demand for EVs in Victoria is coming from the Wyndham, Boroondara and Monash local government areas, where new EV customers are reportedly enjoying monthly fuel savings of $500.
Federal Chamber of Automotive Industries (FCAI) chief Tony Weber said car manufacturers have welcomed the program’s extension but reiterated that more needed to be done at a national level.
“The Victorian Government’s announcement of an additional $7.2 million in purchase incentives for electric vehicles is welcome news for motorists who have been considering the move to an electric vehicle,” he said.
“This additional spending complements the Government’s charging infrastructure investment across the state.
“Our overall policy objective is to reduce CO2. While subsidies for specific technologies are welcome, our journey to reducing emissions in the transport sector needs to be a holistic one.”
Weber added that meaningful CO2 reductions would be made through the adoption and support of multiple low-emission technologies like hybrid, plug-in hybrid, and even “highly efficient internal combustion engines”.
Victoria’s now-extended EV incentive program forms part of the state government’s $100 million Zero Emissions Vehicles Roadmap and is intended to encourage and accelerate the adoption of EVs.
The southern state’s interim goal is for zero-emissions vehicles to account for half of all new car sales in the state by the end of this decade.
Related: Victorians get $3000 subsidy for electric cars
Related: Study: EV ownership costs now on par with ICE vehicles
Related: Which Australian states offer the best EV incentives?
Related: Consumer interest in EVs at record high
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