Cheaper electric cars, hybrids after Greens, Pocock strike deal | CroweDM
A federal law to cut the price of electric vehicles is one step closer after the Greens and crossbenchers reached a deal with Labor on Tuesday morning to pass the changes within two weeks.
There could be a discount of up to $9000 for staffers buying EVs as part of their salary package once the bill passes.Senate independent David Pocock will also back the bill after negotiating a sunset clause with the government to stop the benefits for plug-in hybrid vehicles in 2025 and focus the incentives on electric vehicles.
Labor unveiled the plan on May 1 during the election campaign and cited estimates from the Electric Vehicle Council that a $50,000 model such as the Nissan Leaf would be at least $2000 cheaper under changes if import tariffs were removed. It estimated the FBT exemption would save employers up to $9000 a year on vehicle costs.
The government stuck to its position on this even though the Parliamentary Budget Office found that carving out the plug-in hybrid vehicles would save $1 billion over a decade.
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