The NSW Government kicked-off its first funding round as part of a $170 million EV program promising to build more than 1,000 fast-charging stations for electric vehicles over four years.

The announcement Wednesday comes after new data from the Electric Vehicle Council revealed the sales of plug-in electric vehicles tripled in 2021 from 6,900 in 2020 to 20,665. 

Of the 20,665 new electric vehicles registered in Australia, six in 10 were made by Tesla.

Electric vehicles are now reported to account for 1.95% of the total market share of new vehicles, up from 0.78% in 2020.

NSW Treasurer Matt Kean said the Government would offer $35 million to fund up to 50% of the costs for businesses to construct fast and ultra-fast EV charging stations along key travel routes. 

"EVs will play a critical role in halving our emissions by 2030 and achieving net-zero emissions by 2050," Minister Kean said.

"Construction is expected to start in the second half of 2022 with construction of all charging stations approved in this first round to be completed within two years."

Boost in EV sales driven by policy changes

Electric Vehicle Council Chief Executive Behyad Jafari said the boost in sales was being driven by positive policy change at a state level and that momentum could now be built upon.

"Governments that take the path of encouragement will capture myriad societal benefits – cleaner air, reduced respiratory illness, smaller carbon footprint, quieter roads," Mr Jafari said.

"Those that lag will make themselves a dumping ground for old tech, dirty vehicles."

Recently the ACT Government commenced applications for zero-interest loans to aid in the purchase of new and used electric vehicles.

Last year the NSW Government also introduced $3,000 rebates and stamp duty waivers for EVs.

Read more: A guide to the current Australian electric vehicle market

In the market for a new car? The table below features green car loans with some of the lowest interest rates on the market for low-emissions vehicles.

Rates
Features
Fees
Other
Lender
FixedNew1 yearMore details
Approval within 24 hours
  • Save the planet. Save thousands on your car loan.
  • 1% discount on qualifying electric cars
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
Approval within 24 hours

Green Car Loan Fixed

  • Save the planet. Save thousands on your car loan.
  • 1% discount on qualifying electric cars
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
More details
FixedNew, Used7 yearsMore details

Hybrid and Electric Car Loan

    More details
    FixedNew, Used99 yearsMore details

    Electric Vehicle Loan (Fixed)

      More details
      VariableNew99 yearsMore details

      Green Car Loan

        More details
        Important Information and Comparison Rate Warning

        All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

        The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates for car loans and secured personal loans for the relevant amounts and terms are for secured loans unless indicated otherwise. The comparison rates for unsecured personal loans are applicable for unsecured loans only. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

        Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of December 2, 2023. View disclaimer.