NSW Government to co-fund 1,000 electric vehicle charging stations

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on February 03, 2022 Fact Checked
NSW Government to co-fund 1,000 electric vehicle charging stations

The New South Wales Government announced Wednesday it's set to launch the most extensive EV charging network in the country.

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


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    Jacob Cocciolone joined the Savings team in 2021 as a Finance Journalist. Driven by a passion for keeping Australians up to date with the latest financial news and trends, his areas of interest include financial technology, investing, property and motoring.

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