EVs and hybrids in Australia
EVs (electric vehicles) and hybrid cars are becoming increasingly popular both in Australia and around the world. It’s not surprising when you consider the high cost of petrol these days. EVs and hybrid vehicles also have less environmental impact.
Read on to find out everything you need to know about EV and hybrid vehicles in Australia, including answers to FAQs.
What is an EV?
There are also hybrid EVs that we explain a little later in this article.
The pros and cons of EVs
EVs have their pros and cons. Let’s look at the main benefits first.
Pros
Compared to traditional vehicles, EVs have lower:
- Fuel costs.
- Maintenance requirements and costs.
- Greenhouse gas emissions.
You may also be eligible for a range of government financial incentives to buy an EV. See the FAQs later in this article.
Cons
On the flip side, EVs currently have these main disadvantages:
- They are still quite expensive to buy compared to traditional vehicles. However, the cost of EVs is expected to come down as more are made.
- Finding an EV charging station is more difficult than finding a traditional fuel bowser.
- However, the number of charging stations is likely to increase substantially over time.
- Charging an EV takes longer than filling up a traditional vehicle with fuel.
- You usually can’t drive for as long on a full EV charge as you can with a full tank of fuel.
- EV batteries are more likely to catch fire if they are damaged by a collision or a flood than traditional batteries.
What is a hybrid vehicle?
A hybrid vehicle runs on a combination of a traditional fuel engine and one or more  electric motors. These can work in conjunction with each other or in isolation in certain situations. For example, a hybrid vehicle will usually switch from the traditional combustion engine to the electric motor/s when you are idling or travelling at low speeds, and vice versa if you want to go faster)
There are currently 2 main types of hybrid vehicles in Australia:
The pros and cons of hybrid cars
Like EVs, hybrids have their
Pros
- Unlike fully electric vehicles and plug-in hybrids, non-plug-in hybrids don’t need to be charged by an electrical power source. They can generate their own power.
- Hybrid vehicles are currently cheaper than EVs.
- Hybrid vehicles have lower fuel costs and lower greenhouse gas emissions than traditional vehicles.
Cons
On the flip side, hybrid EVs currently have these main disadvantages:
- They still require traditional fuel.
- Hybrid vehicle models are currently slightly more expensive than traditional fuel models of the same vehicle.
EV and hybrid FAQs
Does Australia Have EV Incentives?
Yes, but only if you are buying a brand new EV, not a second hand one. The incentives vary depending on which State or Territory that you live in. You can check the incentive that’s available where you live here.
The federal government has also introduced a fringe benefits tax (FBT) exemption for the cost of buying an EV for business purposes as well as the associated ongoing vehicle running costs.
How Do You Qualify For An EV Grant?
How much does an EV cost to buy?
How long does it take to charge an EV?
How Far Can You Go On A Fully Charged EV?
Can You Get A Solar Powered EV?
Where Can You Get EV Finance In Australia?
EV and hybrid vehicle finance is widely available across Australia from any financial institution that offers car loans. There is a huge range of vehicle loans available. It’s best to use a car finance broker like one of our experienced team at National Loans to save yourself time and hassle in finding a suitable loan for your needs.
Car finance brokers work for car buyers, not car dealers. Avoid dealer-arranged finance because you will usually pay more.
