Westpac and Australia’s largest electric vehicle charging network Chargefox have partnered to offer customers who are looking to purchase an EV free public charging. 

For a period of up to 12 months, customers will receive approximately 7,000 kilometres' worth of free public charging at more than 1,500 Chargefox stations across the country.

This equates to roughly $750 in savings on charging costs.

Westpac Managing Director of Consumer Finance Steve Rubenstein said the partnership with Chargefox will help enhance the affordability of EVs.

“We want to help increase access to charging stations and support our customers who want to make the transition,” Mr Rubenstein said.

“The average Australian passenger vehicle travels around 11,000 km a year, so this is a great way for our customers to save on charging.

“Today’s announcement is another step in helping our customers make the switch to a greener vehicle, following the launch of our EV loan last year.”

The Federal Chamber of Automotive Industries (FCAI) ‘VFACTS’ report revealed electric vehicles accounted for 8,124 sales in May, equivalent to 7.7% of the entire market. 

Luxury car rate tax thresholds increases

From 1 July 2023, the federal government will increase the Luxury Car Tax (LCT) thresholds helping many Aussies save thousands on the price of a new car.

The LCT threshold for ‘fuel efficient’ vehicles will be raised from $84,916 to $89,332 expanding the choice for buyers of EVs.

According to the ATO, a ‘fuel efficient’ vehicle has a fuel consumption that does not exceed 7.0 litres per 100 kilometres. 

Many electric and hybrid cars that were previously just outside of the LCT threshold will now fall into the category such as the Tesla Model 3 Performance and the Kia EV6 GT-Line, and not attract any LCT at all.

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