Why this is important to Wisconsin businesses: As the Australian electric vehicle industry develops, there will be an increased need for charging infrastructure and supporting products, presenting a potential opportunity for Wisconsin exporters.
Australia’s market for electric vehicles is expected to grow rapidly over the next several years, with the help of government funds to build more charging stations.
Sales during the first half of 2021 already eclipsed sales for all of 2020. In the first six months of 2021, 8,688 electric vehicles were sold, according to the Electric Vehicle Council—up from 6,900 in the full 12 months of 2020.
Australians can choose from 31 passenger models of electric vehicles, manufactured by 12 carmakers, and another 27 models are expected to be available by the end of 2022, the Electric Vehicle Council said. Industry experts predict the manufacturing cost will be on par with that of combustion engine cars by 2025.
The variety of motorcycles and electric scooters also has been increasing, with five manufacturers providing them, including Wisconsin-based Harley-Davidson.
Australia currently has more than 3,000 charging stations at more than 1,650 locations, and federal and state governments have announced plans to boost those figures in order to increase consumer confidence in the vehicles. The additional allocations include:
- $24.5 million AUD ($28.4 million USD) from the federal government’s Future Fuels Fund will be used for more than 400 new fast-charging stations.
- New South Wales is offering $3,000 AUD ($2,256 USD) rebates for buying electric vehicles and is allocating $171 million AUD ($128.6 million USD) to help finance more infrastructure.
Along with government-funded infrastructure, consumers are expected to demand fast and convenient charging stations at shopping centers, grocery stores, hotels, offices and residential homes.
With the electric vehicle industry still evolving, Wisconsin companies experienced in producing high-capacity inverters or DC fast charger infrastructure may want to consider opportunities in the Australian market. Opportunities may also exist for exporters specializing in electric vehicle technology, GPS tracking devices for fleet management, charging stations, tire technologies, software apps and vehicle accessories.
To find out more:
- Read the Australian Electric Vehicle Market Report to better understand the current state and road map for electric vehicles in Australia.
- Visit the websites of the Electric Vehicle Council and the Australian Electric Vehicle Association to stay abreast of industry developments.