One third of Australians plan to buy an EV within the next 5 years

One third of all Australians plan to buy an electric vehicle (EV) within the next 5 years, and nearly half of all Australian drivers are actively contemplating the switch.

These are the main findings from the Future Forecast Report 2024 published by Evie Networks, Australia’s largest fast EV charging network.

“Electric vehicles are no longer a thing of the distant future; they are becoming a tangible reality for Australian drivers. Our report showcases the evolving mindset towards sustainable transportation,” said Chris Mills, CEO of Evie Networks.

The report is based on a sample survey of 1,011 Australian drivers aged 18 years and older and weighted by gender, age and location.

It investigated the shifting landscape of Australian driving habits and the accelerating adoption of EVs and found that a few specific considerations are driving thoughts of purchasing an EV.

70% of the survey respondents who are considering purchasing an EV cited cost savings as a main reason behind their thinking. Other factors included environmental benefits (69%), energy efficiency (56%), and quiet transport (41%).

“Consumers are increasingly recognising the noticeable benefits of electric vehicles, not just for their wallets but also for the environment,” said Mills.

“This surge in interest signifies a crucial moment in the transformation of the automotive industry.”

The biggest barriers to EVs cited by the respondents are that they remain too expensive (55%), concerns about range (47%) and a perceived lack of charging infrastructure (46%).

Drivers in all states say that the main factor that will encourage them to buy an EV is lower prices.

Evie also found that 76% of Australians believe that more EV charging stations are needed across the country. Western Australian drivers were most concerned about infrastructure and charging stations, followed by South Australians, Victorians, Queenslanders, and those from NSW.

NSW drivers are leading the way in terms of EV adoption, with the greatest number of drivers of any state (51%) considering a switch to an EV at some point in the future, with Victorians close behind at 47%.

Conversely, South Australians are lagging behind and are the slowest of all states considering a switch to EVs. Of all the states they're the most concerned about the cost of an EV and have the greatest concerns about range anxiety.

Chris Mills says that it's important for prospective drivers to know that EVs are not only eco-friendly but economically advantageous.

“When comparing an EV to a petrol car (based on an average consumption of 30 litres of petrol per week) the cost savings range between an impressive 45% to 75% - which translates to a substantial weekly saving of $27 to $45, achieved through a combination of both home and public fast charging."