Thanks to lowered battery production costs EV prices have decreased significantly in recent years. Price drops look set to continue further in the near future. BloombergNEF predicts that sedan and SUV EVs will be cheaper to produce than their petrol-powered equivalents by 2026, followed by smaller EVs by 2027.
Nevertheless, there has never been a better time to make the switch to zero-emission driving. With more EV models available than ever before, lower prices, and 3,000 public charging stations across Australia, 2022 is a great year to invest in an electronic car.
Here’s why you should seize the opportunity:
Record high petrol prices
As global events have shaken supply chains, fuel prices have skyrocketed in the last twelve months. In Australia, prices have soared above $2 per litre and look set to keep escalating. EVs can be charged for a tenth of that, at just $0.20 per litre. While EVs may be more expensive on the lot, they are a smart long-term investment that will save you thousands in fuel expenses over time.
More EV choice
Until recently Australia has had about 20 EV models on the market. But with a strong demand, supply is increasing, with at least 30 new models arriving in 2022. That’s a marked increase of 150%.
Some of 2022’s most exciting EV arrivals in Australia include the Tesla Model Y, BYD Yuan Plus. MG ZS EV, Volkswagen ID.4 and Cupra Born. To date, EV entry level prices have sat at around $50,000, but that will likely drop to around $40,000 due to new Chinese brands arriving on the market.
More public charging stations than ever
With 50 total charging points, the ACT has been leading the way when it comes to boosting Australia’s electric vehicle charging infrastructure. What’s more, ActewAGL have partnered with Evie Network to create our very own charging network across the territory.
With three rapid chargers and eight fast chargers currently available and 20 more arriving by the end of 2022, you can drive with peace of mind. Subscribe to our evCharge subscription and you will receive 12 months free charging on the ActewAGL Evie network.
Summary
- EVs are set to be cheaper to produce than petrol cars by around 2026-2027.
- 2022 is a great year to switch to an electrified vehicle.
- EVs can be charged for a tenth of the price it costs to fill a petrol or diesel equivalent.
- 2022 welcomes an increase of 150% new types of EV to the market.
- The ACT has 50 charging points across the region.
- The ActewAGL Evie network has 11 charging points which you can receive 12 months free use of when you subscribe to our monthly evCharge package.
Are you considering making the switch to an electric vehicle? ActewAGL can help you effortlessly find, finance and charge your EV. Discover how ActewAGL can support your transition to sustainable driving today.
Sources
https://www.gizmodo.com.au/2022/03/everything-you-need-to-consider-before-buying-an-electric-vehicle-in-australia/
https://thenewdaily.com.au/life/auto/2022/01/30/electric-vehicles-ten-new-2022/
