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Queensland Government launches $3,000 electric vehicle subsidy

The Queensland Government has announced from 1 July, motorists will be offered a $3,000 electric vehicle subsidy to boost the uptake of electric vehicles.

The launch of the subsidy forms part of a $55 million Zero Emission Vehicle Strategy that includes thousands of dollars in incentives to supercharge clean energy transport.

Premier Annastacia Palaszczuk said the investment would make electric vehicles more affordable for Queenslanders.

"There are plenty of Queenslanders out there who want to make the switch to electric; that’s why we are going to do what we can to make the cost of electric vehicles that little bit cheaper,” the Premier said.

The Government will also commit $10 million as part of the strategy to build more public charging stations jointly-funded between local government and private sector firms.

The subsidy is open to the first 15,000 electric vehicles (EVs) purchased from July 1, to the maximum value of $58,000.

Popular EVs eligible for Queenslanders up to the $58,000 limit include the Hyundai Kona, Hyundai Ioniq, Nissan Leaf, and MG ZS.

Electric vehicles taking off

Aussies are showing a wilingness to adopt EVs with sales of plug-in EVs tripling in the past year from 6,900 in 2020 to 20,665 in 2021.

EVs now account for 2% market share of new cars, up from 0.78% in 2020.

Motorists are keen to take advantage of a number benefits EVs offer including a range of State Government incentives, transitioning to cleaner energy to benefit the future yet most significantly reducing fuel and maintenance bills.

Fuel prices have risen to an eight year high according to the most recent Australian Competition and Consumer Commission (ACCC) report for the December quarter, with an average price now north of 200 cents per litre across all capitals.

The ACCC reported the last time prices in Australia were as high as they are currently was in January 2014 when strong international demand, conflicts in the Middle East and Ukraine, and lower exchange rates pushed real daily average petrol prices to 182.7 cents per litre.

In June 2008 during the Global Financial Crisis, daily average prices reached a record high equivalent to 212.9 cents per litre.

Join the EV movement

To help combat the rising price of fuel, loans.com.au recently launched a new electric vehicle car loan product with one of the lowest car loan rates on the market of 2.89% variable (3.43% comparison rate).

The electric vehicle loan product is available for people purchasing new electric cars, with the option of extra repayments and the ability to redraw with no fee.

Additional car loan discounts will also be extended to those purchasing other vehicles, starting at 2.99% (3.53% comparison rate) if they own their own home.

Interested in taking advantage of state subsidies and beating rising petrol prices? Check out our range of electric vehicle car loans to help electrify your new car journey.

View Electric car loans

About the article

As Australia's leading online lender, loans.com.au has been helping people into their dream homes and cars for more than 10 years. Our content is written and reviewed by experienced financial experts. The information we provide is general in nature and does not take into account your personal objectives or needs. If you'd like to chat to one of our lending specialists about a home or car loan, contact us on Live Chat or by calling 13 10 90.

Tags: electric cars electric vehicles