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By Riz Akhtar
Back in 2022, the Future Vehicle Expo and Seminars was held in Manningham which saw many electric car brands, owners and industry experts come together to share all things EVs.
A lot has changed since then, with many new models, thousands of new charging stations and much more to come from recent announcements in the National EV strategy.
Let’s start with the many new models now available and how that’s increased competition in the electric vehicle market, reducing prices and increasing availability.
In 2022, there were a few popular models, mainly from brands like Tesla, Hyundai, Kia, MG, and various others. BYD had just launched the Atto 3 SUV into the market, but overall, the supply of these vehicles was the main bottleneck.
Fast-forward to 2024. The supply of vehicles has improved significantly, and there are many more options available. You no longer have to wait many months to receive a new electric car; in most cases, it’s come down to a few weeks. Many even have immediate delivery on popular models like those seen from Tesla, BYD, MG, and others.
On top of that, everyday drivers can enjoy significant savings on prices paid back in 2022. The pricing of models like Australia’s best-selling EV and the world’s best-selling car in 2023, the Tesla Model Y, has seen multiple price cuts and can now be driven away for over $15,000 cheaper than two years ago.
Other brands like MG are now offering some great deals on the electric model it sold in 2022, the MG ZS EV, which also made an appearance at our last Future Vehicle Expo in Manningham. Now, many variants of the ZS EV are priced under $40,000, with a recent offer hinting that some 2023-built cars will be as affordable as $34,990 driveaway. Two years ago, this was not even on the cards.
In addition, MG has recently shaken the EV market by setting a new benchmark in Australia by offering an industry-leading 10-year or 250,000km warranty across its entire range. That is a significant bump up from the 7-year warranty the company previously offered on its vehicles.
This move alone will help many buyers think about electric cars differently, alleviating some concerns about the life of the EV battery. After all, 10 years is a long time, and for many, they’d be in a new car in just over half that time.
Major shifts have also been spotted in the charging infrastructure rollout across the country. Back at the end of 2022, there were a total of 430 fast-charging sites in Australia. As of August this year, according to EV data company, carloop, we have seen that rise up to over 1,000 sites, up from 581 a year earlier as major investment goes into chargers across the nation.
This is much needed, after all, as EV uptake has gone from strength to strength, with over 60,000 electric cars being added in 2024 alone.
This has helped the fleet increase to over 210,000 electric cars on our roads and is expected to see continued growth in the coming months as 2024 comes to a close.
Part of this recent growth has come from the National EV strategy, which outlines key changes to make EVs more accessible to more people. This includes changes to fringe benefits taxation for many workers, helping them get behind the wheel of an EV much more cost-effectively than buying a petrol or diesel vehicle.
Charging these new EVs and the existing electric cars will need a lot of chargers across the country and the rollout is just getting started.
The total number of fast-charging sites now accounts for nearly 2,000 individual DC fast chargers with speeds of 25 kW and up to 350 kW. There are also thousands more slower AC charging stations nationwide, further supporting the rise in EVs.
Looking ahead, there is a lot of excitement with the number of new brands making it to the Australian market and a flurry of new models that will be at the Manningham Electric Vehicle Expo and Seminars in October this year. https://www.electricvehicleexpo.com.au
You will hear from experts in EVs, charging, clean energy, smart car technology, and all the things we can look forward to as we work towards making Australian roads cleaner and better for everyone.
The show will be held on Sunday, 27 October, at the Manningham Civic Centre and car park, with entry from 10 am to 4 pm. Join us to inspect the wide range of EVs on show, hear from experts in our Seminars on all things electric cars, and learn from industry experts and owners themselves. Book into our Seminars using the link - https://events.humanitix.com/ev-seminars
Riz Akhtar is Founder & CEO of carloop, a regular contributor of The Driven and a director of Australian EV Association. He will be a speaker at the Manningham Electric Vehicle Expo & Seminars in October.
