Queensland offering Australia’s most generous electric car incentives

The Queensland Labor authorities authorities has doubled its household EV rebate from $3000 to $6000 and accrued the terms headdress for caller vehicles eligible nether the strategy to $68,000 – widening the scope of cars available. 

Applicants indispensable person a combined household income of $180,000 oregon little to get entree to the maximum rebate nether the Zero Emission Vehicle Rebate Scheme.

The doubled rebate is exclusive to eligible households according to today’s announcement – meaning 2 idiosyncratic rebates of $3000 – but idiosyncratic buyers, arsenic good arsenic households, supra the income threshold volition inactive person entree the older $3000 discount.  

Applicants who person already applied and received a $3000 rebate nether the earlier scheme, and who are nether the full gross income threshold, are considered eligible for reassessment and further outgo of the $3000 rebate.

Upping the threshold to $68,000 means buyers person entree to acold much prime than the aged $58,000 headdress allowed, with the nett expanded to see vehicles similar the Cupra Born, Nissan Leaf e+ and Polestar 2.

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And of people astir importantly, it besides opens eligibility to the top-selling Tesla Model 3.

Electric vehicles that commencement nether the threshold:

• BYD Atto 3
• Cupra Born
• Fiat 500e
• Hyundai Kona
• Kia Niro
• Mini Cooper SE
• MG ZS EV
• MG 4
• Nissan Leaf
• Polestar 2
• Tesla Model 3

Never 1 to miss a accidental to people governmental points, Queensland Minister for Energy, Renewables and Hydrogen Mick de Brenni said:

“We’re seeing the prices of EVs fluctuate connected the backmost of rising materials costs and ostentation near by the Morrison Government, truthful we’ve accrued the eligible terms cap… and accrued the rebate amount.”

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“We privation much zero emanation vehicles connected Queensland roads with Queensland families to person entree to cheaper and cleaner vehicles.”

The strategy tin besides beryllium tapped by businesses, with the government’s strategy allowing Queensland companies to use for up to 5 rebates per fiscal year.

“This is an accidental for Queensland businesses to measurement up and lend to emissions simplification done transitioning their fleet operations,” added Mr de Brenni.

Electric cars managed oregon leased done a lease oregon fleet organisation look to beryllium excluded however, arsenic are utilized cars.

Details of the caller requirements and an updated exertion signifier volition beryllium disposable online from July 1, 2023. The existent strategy volition stay successful spot until then, truthful the authorities advises “any idiosyncratic who purchases a caller EV… to grounds impervious of acquisition to entree the rebate”. 

• Australia’s 2 cheapest EVs: BYD Atto 3 and MG ZS

The authorities besides says the strategy volition bolster the secondhand market, making EVs much affordable successful the years to come.

The Queensland Government has committed $45 cardinal (theoretically adjacent to 7500 payments of $6000) to the rebate strategy which volition beryllium offered until backing is exhausted. As of this week, 1135 of the aged $3000 rebates had already been approved. 

The RACQ motoring nine praised the move, saying its probe showed the afloat $6000 rebate would person a affirmative interaction connected EV prices, making immoderate electrical models the aforesaid outgo oregon adjacent cheaper than their petrol comparisons.

“For example, with the accrued rebate, the MG ZS Excite EV and its petrol counterpart, the MG ZST Excite 1.3L would some outgo astir $1032 per period to ain and run implicit a five-year loan,” it claimed.

“A Tesla Model 3 would beryllium cheaper than its closest petrol comparison, the Honda Accord Vti Turbo 1.5, costing $1534 and $1550 per period respectively.”

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General Manager of Advocacy Joshua Cooney said it was wide that much Queenslanders were funny successful purchasing EVs with the Australian Automobile Association’s (AAA) EV Index showing caller electrical car income successful the State soaring by 79.6 per cent successful the archetypal 3 months of 2023.

The assemblage urged the authorities to marque the strategy disposable for cars purchased utilizing novated leases.

As we precocious reported in our quarterly EV report, Queensland’s EV marketplace stock sits astatine 6.5 per cent, greater than Victoria (5.3 per cent) but little than New South Wales (7.6 per cent).

EV income implicit Q1 2023 by State:

• New South Wales: 6399, 7.6 per cent marketplace share
• Queensland: 3892, 6.5 per cent marketplace share
• Victoria: 3621, 5.3 per cent marketplace share
• Western Australia: 1524, 5.5 per cent marketplace share
• Australian Capital Territory: 838, 18.9 per cent marketplace share
• South Australia: 787, 4.4 per cent marketplace share
• Tasmania: 295, 6.5 per cent marketplace share
• Northern Territory: 43, 2.0 per cent marketplace share

While Queensland’s EV rebates are present the highest successful Australia, each regions present connection their ain enactment packages to turn uptake.

For lawsuit New South Wales is backing 25,000 rebates of $3000 connected EVs nether $68,750 and removing stamp work connected EVs nether $78,000, portion successful Victoria there’s entree to $3000 rebates connected EVs nether $68,740.

The erstwhile highest rebates belonged to Western Australia, which successful May 2022 announced an EV enactment bundle including $3500 rebates for buyers spending little than $70,000.

MORE: What electrical car purchaser incentives are offered crossed Australia?