Australia has long been among the less developed countries in the world in terms of electric vehicles, and now the country is finally going to make a push in this area. The Australian government is seeking input from automakers this month to help it develop a strategy that will catch up with other countries in the electric vehicle space.
The new regulations will go some way to addressing Australia’s lagging position in electric vehicle development. As a developed country, Australia is one of the biggest polluters per capita, and last year its electric car sales accounted for only 2 percent of new car sales.
Australia’s Climate Change and Energy Minister Chris Bowen said the country is the only OECD country other than Russia that does not have or is in the process of setting fuel efficiency standards. Bowen said only eight electric cars cost less than $60,000 (about $41,000) in Australia, compared with 26 in the UK.
Global automakers such as the Volkswagen Group and Nissan have supported the introduction of new fuel standards in Australia. VW said deliveries of electric vehicles have been rising in countries that have fined car companies for failing to meet emissions standards. Paul Sansom, VW Australia’s managing director, said, “Increasing the availability of electric car vehicles will contribute to lower selling prices.” Nissan said, “The current selectivity of electric vehicles in Australia is not as abundant as in other markets. Without a long-term transport decarbonization target, Australia will continue to lag behind other countries in terms of electric vehicle penetration.” The Electric Vehicle Council of Australia says the government should achieve a goal of zero emissions from all new vehicles by 2035 to meet the country’s commitment to achieving net zero emissions by 2050.
Typically, under fuel efficiency standards, car companies are penalized if the carbon emissions of new vehicles exceed a certain level. And when a car company’s fleet meets emissions targets, it can earn points and trade them with other manufacturers.
We can see that Australia will certainly implement various subsidies to stimulate the demand for electric vehicles, while the lack of charging infrastructure will also occur. Therefore, investors interested in the charging business can pay attention to the changes in the Australian market and grasp the business opportunities in time, and SETEC POWER can be your partner in this process.
