Albanese, who is the Opposition leader, will tell the party's online national conference on Wednesday, that the policy would remove import and fringe-benefit taxes on all non-luxury vehicles that cost below $77,500, The Conversation reported.
The EV policy would cost about $200 million over three years. Labor also will say it plans to set up community batteries, which will cost an additional $200 million over the same period.
Such batteries would be able to supply about 500kWH of storage which is enough for roughly 250 local households.
According to the Victorian Treasurer Tim Pallas, he expects to see price parity between fossil-fuel vehicles and electric vehicles by 2025.
At the last federal election in 2019, the Labor Party offered subsidies to buyers of electric vehicles as an incentive to drive take-up to 50% of the vehicle population by 2030.
Albanese and energy spokesman Chris Bowen said in a statement that while many Australians have indicated they would like to buy an EV, the price of such vehicles is a disincentive.
The cheapest EV in Australia, the MG ZS EV Essence, costs about $44,000. [corrected]. The Nissan Leaf is next in line at about $53,000.
“By reducing upfront costs, Labor’s electric car discount will encourage uptake, cutting fuel and transport costs for households and reducing emissions at the same time,” the statement said.
Australia has about 20,000 electric vehicles on its roads and last year only 0.7% of vehicles bought were EVs. The report said the global average was 4.2%.