- 2017 data shows stronger growth in Australian Electric Vehicle (EV) sales, to an annual total of 2,284 (a 67 per cent increase on the previous year)
- The number of EV models available in Australia increased by 44 per cent in 2017, although most of the new models were in the luxury category.
- Two critical tipping points are expected to be reached in the next few years. The total cost of ownership (TCO) of an EV is predicted to reach total-cost parity with conventional vehicles about 2020/21 and purchase-price parity between 2025 and 2027.
- These tipping points are expected to accelerate EVs’ share of Australian new passenger vehicle sales from their current level of 0.2 per cent to 1 per cent by 2020. This share is forecast to rise to 6 per cent by 2025, 28 per cent by 2030, and 60 per cent by 2040.
- This growth will be driven by a number of factors including falling EV prices, changing consumer preferences, public policies and global trends. Australia’s Clean Energy Finance Corporation (CEFC) predicts all new cars will be EVs by 2044 without incentives – or by the 2030s, if incentives are provided.