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How Australia Plans to Boost EV Sales Through Unleashing Fuel Efficiency Standards

April 26, 2023

Latest company news about How Australia Plans to Boost EV Sales Through Unleashing Fuel Efficiency Standards

Energy minister added that this initiative will help reduce the nation’s emissions by at least 3 million tonnes of carbon by 2030, and over 10 million tonnes by 2035

The Oceanian country Australia has now proclaimed that it is going to unleash new regulations targeting vehicle emissions in an effort to boost electric vehicles. According to the experts, Australia is undertaking this initiative to compete with other developed countries in the electric vehicle market.

As per media reports, a year back only 3.8 percent of electric vehicles were sold in the Oceanian country and it is lagging behind Europe and Britain where there are 17 percent and 15 percent of sales of electric vehicles. The country’s first of its kind EV strategy will unleash a fuel efficiency standard that will showcase how much a traditional car emits carbon dioxide while in use.

Energy Minister Chris Bowen told the media, "Fuel-efficient and electric vehicles are cleaner and cheaper to run – today’s announcement is a win-win for motorists. Details would be finalized in the coming months."

According to a Reuters report of Reuters, Australia was the only developed country after Russia that did not have fuel efficiency standards that will help car-makers to produce more no-emission or electric vehicles. In Australia, carbon emissions from cars are the third biggest source. Energy minister added that this initiative will help reduce the nation’s emissions by at least 3 million tonnes of carbon by 2030, and over 10 million tonnes by 2035.

The move has been gratified by the EV council but the country must introduce strong regulations or “remain the world’s dumping ground for dated, high-emission vehicles,” says chief executive Behyad Jafari.

Bowen further added that around 40 percent of fuel is used by Australia’s new car than the EU and 20 percent more than the U.S. In Australia, the demand for EVs are escalating among the consumers, but the supply is not meeting up the demand because the car-makers do not have ample incentives.

A year back, the labor government of the country aimed to unleashed new regulations to augment electric cars’ sales and in fact, the new PM reduced taxes for EVs and also increased Australia’s 2030 target for cutting carbon emissions to a 43 percent.