Originally published: Yahoo Finance, 23 February 2024
The shift towards electronic vehicles (EVs) is happening, whether we are ready for it or not, and Australians are about to face some big changes when it comes to our cars.
The federal government, which unveiled its proposed New Vehicle Efficiency Standards (NVES) earlier this month, wants to see car companies supply more fuel-efficient vehicles by January 1, 2025, in the hopes of accelerating its ambition to reduce carbon emissions by 369 million tonnes by 2050.
New research from global data and insights company Pureprofile revealed close to two-fifths (39 per cent) of Australians were reluctant to purchase an EV due to high upfront investment, with almost two out of three (65 per cent) reporting the rising cost of living was hampering their ability to do so.
