We could have had fuel security by now. Let’s not make the same mistake twice
Australia's slow adoption of electric vehicles (EVs) has left the country vulnerable to global fuel shocks, despite EVs now being cost-competitive. The government is urged to continue supporting EV uptake through policies like FBT exemptions and workplace charging infrastructure.
Australia's delayed transition to electric vehicles (EVs) has resulted in the country being exposed to global fuel volatility. A Senate Select Committee report in 2019 recommended rapid EV adoption for economic and national security. EVs are now cost-competitive, with models like the BYD Atto 1 and MG4 Urban available for $26,000 and $31,000 respectively. The current government has introduced some supportive policies, including the New Vehicle Efficiency Standard and FBT exemptions for EVs. However, there are concerns that the government may reduce or remove these exemptions, which would be detrimental to EV uptake. To fully leverage the benefits of EVs, Australia needs to integrate its transport sector with its grid, including support for workplace charging infrastructure. Investing in a sovereign, electrified transport system is seen as a critical investment in national security, more effective than some hardware projects being funded.
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