Press conference, Kemps Creek, Sydney, NSW

MINISTER FOR CLIMATE CHANGE AND ENERGY, CHRIS BOWEN: Thanks for coming, everyone. Today, the Treasurer and I have announced our reforms to the EV tax cut. These are sensible reforms, which will continue to help Australians with the choices they want to make to purchase more electric vehicles.

The EV tax cut will continue, but will apply from 1 April 2027 to cars under $75,000, with lesser support for those cars between $75,000 and just over $90,000. This is very sensible. It is a save for the Budget, but it keeps that support going and encourages Australians to keep making the choices they want to make for cheaper, cleaner cars.

And we can only do this because our New Vehicle Efficiency Standard has brought so many more affordable vehicles into Australia. When we came to office, there was no EV available for under $40,000. Now Australians do have those choices, and certainly many more choices, right up to $75,000.

For $75,000, you can get a great EV, and the FBT exemption will continue until 2029 to enable those Australians over the next three years to make the choices that increasingly Australians want to make. We have seen in the release today of the EV sales figures that, just in the last month, EV sales are absolutely exploding, as Australians make the choice to buy cheaper, cleaner, better cars, which we are requiring car manufacturers, now as a matter of law, to send to Australia.

Australia and Russia were the only two major economies without these rules until the Albanese Government brought them in. They are working, and we are providing that support for Australians to buy the EVs they want to continue to buy. We acknowledge the Traditional Owners of country throughout Australia and recognise their continuing connection to land, waters and culture.

We pay our respects to their Elders past, present and emerging.