Electric vehicles (“EVs”) are still too expensive for the average buyer. Although EVs are poised to ultimately replace internal combustion vehicles as countries around the world strive to reduce carbon emissions, improve air quality and achieve climate goals, the initial purchase costs put them out of the reach of most households. To make them more affordable and boost EV adoption, authorities in several countries have been offering subsidies, incentives and tax credits for certain electric vehicle purchases.
Australia, however, has chosen to go a different route after the federal government recently announced that it was ruling out subsidies for private EV purchases. According to the 40-page Future Fuels Strategy, published last week, the government may subsidize businesses that replace their fleets with electric vehicles. The publication outlines the Australian Federal Government’s automotive policy platform, stating that it will focus…
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