When organisations electrify their fleets, they are not only presented with a huge opportunity to reduce their emissions and save money but can have a powerful impact on the national market, spurring demand for and increasing supply of electric vehicles, both new and used.
The incentive will help bridge the cost of transitioning passenger, light commercial or sports utility vehicles to either battery EVs or fuel cell EVs through a reverse tender auction process, with additional funds also available for smart base charging.
Registrations for the first round of funding opened on 30 November 2021, with funding rounds offered around every six months until the end of 2024.
This incentive will help meet outcomes of the EV Strategy to increase EV sales to 52% by 2030- 31 and see the vast majority of new car sales being EVs by 2035 while working towards net-zero emissions by 2050.
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