By 2040, electric vehicles (EVs) are projected to account for 70% of new vehicle sales and 30% of the vehicle fleet in Australia. Currently, there are approximately 2,300 EVs on Australian roads.
Moving from internal combustion engines to electric vehicle technology will result in nationally significant fuel and maintenance cost savings, and environmental benefits.
However, lack of access to charging stations has been identified by around two-thirds of motorists as a key barrier to the adoption of EVs. Australia currently has less than 800 charging stations, of which approximately 70 are fast charging. Other key barriers to the adoption of EVs include the currently high vehicle prices, model availability, and the distance over which they can travel on a single charge.
Establishing a network of fast-charging stations on the national highway will help to overcome the ‘access to charging facilities’ barrier and reduce consumer anxiety about EV range. It is expected that the distance vehicles can travel on a single charge will continue to improve with technological advancements, and that vehicle prices will reduce as production scale increases and the cost of batteries reduces.
National policies and regulation to complement the roll-out of fast-charging infrastructure would reduce the risk of competing standards and redundant investments, and maximise inter-operability.
The initiative includes:
- developing a network of fast-charging stations on the national highway network to provide national connectivity
- developing policies and regulation to support charging technology adoption.
Complementary investment in network infrastructure may be required to ensure that the electricity generation and distribution network can provide reliable electricity supply for additional electric vehicle chargers.
Proponent(s) to be identified.