The EV revolution is well underway, with more and more drivers making the switch to electric cars. Up until a few years ago, electric cars seemed part of a distant future, but now they’re slowly making their way onto Australian roads. Battery range and charging times have significantly improved, and, most importantly, prices have begun to come down thanks to the introduction of more affordable models to the Australian market.
The global EV industry had a boom in 2021, with 6.6 million EV and hybrid plug-in cars sold. There were more EVs sold in each week of 2021 than in the whole of 2012. The rising sales trend continued in 2022, with electric car sales increasing by 40%, more than one in ten new cars sold worldwide being an EV. In Australia, EV sales accelerated as well. The number of EVs on Australian roads almost doubled in 2022, growing from 44,000 in January to 83,000 in December, according to Electric Vehicle Council’s yearly recap. This figure is expected to top 100,000 in the coming months.
Even though they have a smaller market share in Australia compared to the rest of the world, the growing charging infrastructure and the financial incentives EV drivers can access prove that the EV industry is gradually expanding here.
We’ve highlighted five important reasons why this is the perfect year for you to upgrade to an EV.
One of the earliest concerns about electric cars was the relatively small distance they could travel between charges. Fortunately, car manufacturers have made significant improvements when it comes to driving range.
In 2013, when Nissan introduced the first modern, fully electric five-door hatch in Australia, the Nissan Leaf, it could only travel for 117 km on a full charge. Now, let’s take the game-changer Polestar 2 Long Range as an example. This premium EV has a range of 551 km when fully charged, thanks to its 170kWh reliable battery.
Tip: Most on-demand drivers travel an average of 150-250 km per day — so any EV that can cover that distance is everything you need.
If electric car range only continues to improve, when is the best time to make the switch? Since modern EVs have already been on the Australian market for ten years now, their battery life has significantly improved and they’re currently a piece of interest for most car manufacturers, this is the perfect moment to switch to EVs.
While Australia is still in its infancy stage of EV infrastructure, there are over 5,000 public charging points across the country, with new ones installed each month.
NSW is leading the way with 93 fast chargers and 463 standard public charging stations as of February 2023. Across Sydney and Greater Sydney only, there are around 190 public charging stations drivers can use, with more to be installed in the future. Thanks to a government initiative, 500 EV charging points will roll out across NSW over the next two years.
You also have the option to install a home charging dedicated unit. Its initial cost is a small investment compared to how much you’ll save over time.
Tip: Splend has partnered with JET charge to give their customers an exclusive offer to install a home charger at a preferred rate.
Not only has the car range improved over time, but the charging time was also significantly reduced. For reference, the Polestar 2 Long Range can charge up to 80% for its 551 km range in just 35 minutes. Access to these stations is much easier now, thanks to the numerous emerging EV charging apps. Check which are the best EV apps in Australia at the moment.
In 2022, fuel prices reached record highs, filling up the tank is now more expensive than ever. Fuel costs depend a lot on the crude oil price, which is easily influenced by any major change in the social and economic context.
If you switch to an electric car, you don’t need to worry about such drastic fluctuations since electricity prices are more regulated. You also get to save money, since electricity fares are currently much lower in Australia than petrol prices.
Did you know? The Australian Electric Vehicle Council states that for 15,000 km driven, you spend around $2,160 on petrol, while for the same distance with an EV, you pay just $600 on electricity costs.
Even if the upfront cost of an electric car might seem high at first, it’s an investment you will get back in time. Not only from reduced running costs, but also from the support you get from authorities and private companies in the form of subsidies that makes a huge impact.
Uber is also supportive of drivers who choose to go electric. Be one of the first 2,500 driver partners to register an EV on the Uber platform and enjoy a 50% reduction on Uber’s service fee, up to $3,500 per year, until 30 June 2025.
Splend has also partnered with Uber to bring an exclusive offer to its customers.
That’s an additional $2,500 of potential earnings per year, on top of the reduced commissions for driving an EV. This offer is eligible for NSW drivers only.
Read more about this experience here.
Contrary to popular belief, it’s cheaper to drive an EV than an ICE car. Despite having a higher upfront cost, once you start doing the math, you’ll realise that, in the long run, it’s more affordable to do ridesharing with an electric car.
The reason is simple — besides reducing your fuel costs, you can also cut down maintenance expenses and running costs that come with being an on-demand driver, such as insurance, specific licences or authorisations.
With fewer moving parts than a petrol or diesel car, an EV won’t need servicing or spare parts replacement that often. More than that, EV batteries generally have an extended warranty that would help you get reduced bills by going to the dealership for servicing.
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