Back in July, the ACT government revealed their plans to shift the territory to zero-emission vehicles, introducing a ban on new fossil fuel-powered vehicles from 2035. Last month’s budget included a $345 million Electric Vehicle Discount. Yesterday, the Climate Council published their Race to Zero Emissions Ranking on Australia’s top-selling car makers.
With Electric Vehicles being such a trending topic, we’ve been getting a lot of questions surrounding them over the past year. Are they the future? Should businesses and families buy EVs instead of normal petrol vehicles?
The Case for EVs
Look at the way the ACT government is investing, there are a lot of incentives to move to EVs now:
EVs are also significantly cheaper to run, with fuel savings of up to 70% and maintenance savings of around 40%. This means that having an EV could save you thousands of dollars each year, potentially millions for a transportation business.
The Math
If you’re still not convinced that an EV will be a worthwhile investment, have a look at the difference in tax savings on a novated lease agreement. Using leaselab, under the following assumptions:
An EV will save you $14,078 more than a Fossil Fuel Vehicle over 4 years from just the novated lease! Try out this calculator for yourself.
An EV does everything a normal fossil fuel vehicle does. So if a vehicle is a must-have for you now, why not get an EV instead for the additional benefits to both the environment and your wallet?
However, an EV is not all sunshine and roses. Part 2 of this series will discuss the biggest dilemma for any EV owner – charging it.
Source: Harry Hoang | CEO of Tailored Accounts
The biggest barrier to owning an EV is having to charge it but what do you do on a long road trip when there is no charging station in sight?
