Car subscription service Carbar has earned a $50 million class A investment from Sydney-based credit investor Global Credit Investments (GCI). The funding will be used to grow the business and will allow Carbar to gain new car subscriptions.
The federal Labor Party has offered subsidies on electric vehicles, cutting import taxes and fringe-benefit taxes on all non-luxury vehicles that cost below $77,500. The Victorian Labor Party, meanwhile, has announced an annual tax of about $300 on EVs.
Attempts to find tension between the electric vehicle policies of the federal ALP and its Victorian counterpart is misplaced. One might even call it a beat-up.
Federal Labor leader Anthony Albanese is set to announce that the party will put in place some modest incentives that would help to push the take-up of electric vehicles in Australia, in the event that it wins the next election.
As the rest of the developed world looks to electric vehicles to help cut their output of greenhouse gases, Australia is firmly in the backseat, looking to the past and attempting to strangle a nascent industry.
China will sell 1.9 million electric vehicles this year, the technology analyst firm Canalys says, adding that this would represent growth of 51% year-on-year and a 9% share of all cars sold in the country.
Sales of electric vehicles increased by 39% year-on-year globally in 2020 to 3.1 million units, the technology analyst firm Canalys says, adding that, in comparison, the total passenger car market experienced a sales decline of 14% for 2020.
In what seems to be a rather strange reversal of roles, the Labor Government in Victoria has announced a tax on electric cars and hybrid plug-in vehicles from July 2021 while a Federal Liberal MP, Trent Zimmerman, has penned an op-ed castigating both Victoria and South Australia for their plans to tax EVs.
It would be great to hear an Australian utility announce a strategic plan for EVs along the lines of what is being done by DTE Energy in Michigan or PG&E in California says Kristian Handberg, Project Manager - Low Emission Vehicles, at the Australian Department of Transport.
Electric Vehicles will play a significant role as a storage facility of renewable energy according to Joerg Lohr, Senior Manager E-Mobility at the global utility leader RWE Effizienz. Joerg Lohr is one of several global experts who will share his insight and experience at the upcoming Smart Utilities Australia and New Zealand conference and exhibition in Sydney from 8-10 November.
A new IBM U.S. survey of consumer attitudes and a recent study of auto industry executives show that the latter will first have to address stringent consumer requirements about EV performance, recharging, and convenience before achieving high adoption this decade.
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