Affordable and sustainable
One reason people want to switch to an EV is to save money on petrol. While your exact savings will vary based on petrol and energy prices, you can use this calculator to estimate how much charging at home will cost.
According to the National Electric Vehicle Strategy report released in 2023, a petrol car consumes around 10 litres per 100 km and costs around $2,400 to fuel each year. In comparison, the average EV consumes around $400 worth of electricity per year (EVC 2022a).
Another way your new EV can help your wallet is by making less trips to the mechanic. Electric vehicles have fewer moving parts, so there’s less chance of things breaking and needing to be replaced.
Incentives for switching to an EV
As part of a national push for higher EV adoption rates, governments at both federal and state level have introduced incentives to make it easier to get into an EV.
At a national level, the electric cars exemption is the main one, which provides an exemption from Fringe Benefits Tax for novated leases (using salary sacrifice) and company cars. This incentive reduces the cost of paying for an eligible EV and covering car running costs through a novated lease by thousands of dollars per year. We even have options for salary packaged EV subscriptions, ask your employer if you’re interested.
Incentives vary across the states, including registration and stamp duty discounts in ACT and NT, while WA and TAS offer $3,500 and $2,000 rebates on EVs respectively. Check the Electric Vehicle Council website for a handy roundup of current initiatives.
There are plenty of reasons to join the change by getting behind the wheel of an EV, and we’re here to help. From EV subscriptions to at-home charging and off-peak discounts, we’re with you every step of the journey.