Why electric vehicles could soon become cheaper
Electric vehicle manufacturers call for Australia to adopt the world’s best fuel-efficiency standards, otherwise they say it will continue to be a dumping ground for polluting cars. The federal government is yet to adopt an emissions target after announcing its EV strategy. Australia’s uptake is far behind the rest of the world.
The biggest markets are China, Europe and the United States. In 2022, Chinese car maker BYD overtook Tesla in sales. Tesla’s also cutting the price of its models to compete and drive demand, as interest rates eat into household budgets. Volvo’s Polestar says more EVs in the Australian market will bring prices down.
Source : ABC News (Australia) YT
