The NSW Government is investing $260 million in the 2023-24 Budget to accelerate the adoption of electric vehicles (EVs) and align with net zero emissions targets. This investment will support the development of a comprehensive NSW EV Strategy, in collaboration with industry partners, to improve critical EV infrastructure.
Prioritising inclusivity, the Government plans to invest in infrastructure that is accessible to regional NSW drivers, renters, apartment dwellers and those without home charging options. Initiatives include deploying fast chargers along commuter routes, expanding kerbside charging near homes, and upgrading grid capacity and charging hubs to support fleets. This strategic investment positions NSW for a widespread transition to EV ownership.
As part of the broader reforms, EV purchase rebates and stamp duty exemptions will end on 1 January 2024. However, transitional provisions will ensure eligibility for those who have ordered or placed a deposit on qualifying EVs, regardless of delivery date, safeguarding the benefits for early adopters.
Recognising the potential impact on the cost of EVs, these incentives will be phased out to prevent EV price inflation and ensure sustainable market growth. From 1 July 2027 or when battery electric vehicles account for 30% of new light vehicle registrations (whichever comes first), a Road User Charge will apply to all zero and low emission vehicles, including plug-in hybrids, registered or transferred from 1 January 2024.