Lowering transport-related emissions is critical to the broader decarbonisation of the Australian economy. We actively support investment to accelerate the purchase of electric and plug-in hybrid electric vehicles, for individual, small business and fleet buyers. In addition, through the Clean Energy Innovation Fund, we are financing start-up companies targeting the EV market.
Modelling commissioned by the CEFC and ARENA found that EVs could represent 90 per cent of all cars and light commercial vehicles on Australian roads by 2050, requiring $1.7 billion in private investment in new charging infrastructure. Our research shows that with the right combination of incentives, models and infrastructure, EV sales could surge from as early as 2021.
Fleet buyers purchase as many as one in five new vehicles in Australia and for that reason we work with these buyers to help them make EVs their fleet vehicle of choice. Increasing the share of EVs on the road directly translates to lower emissions. While EV charging adds to the demand for electricity, the share of grid-supplied renewable energy continues to grow.
Discover how electric vehicles will be central to our clean energy economy with our Clean Energy Snapshot of the Australian Electric Vehicle Market or our full report into the Australian Electric Vehicle Market
Watch: CEFC Electric Vehicle drive day
Investing in the EV transition
Switching to greener vehicles
Business, government and not-for-profit fleet buyers are being encouraged to move to low emissions vehicles to tackle one of the biggest contributors to Australia’s greenhouse gas emissions – light vehicles.
Second life batteries
Relectrify’s ground-breaking technology gives used batteries a second life, optimising energy from stronger cells to unlock unused capacity. The recycled batteries can be used in the home as well as for utility-scale grid backup.
Making EV charging smarter
JET Charge, Australia’s leading specialist in electric vehicle charging infrastructure, is developing smart charging hardware that will reduce the cost of smart and connected charging stations and make them more user friendly.