On top of that, it’s also waiving stamp duty on EVs that cost less than $78,000, meaning in some cases the policy could knock more than $5,000 off the cost of an EV.
The rebate policy will come into force on September 1, and will only be available on the first 25,000 vehicles sold under the new plans – an incentive to get people moving early, rather than waiting for prices to come down.
Both the rebate and the stamp duty waiver will only apply to full battery electric and hydrogen fuel cell vehicles. Plug-in hybrids will not be eligible.
So for NSW residents who suddenly find themselves able to afford an EV, we take a look at the models that meet the threshold requirements. The Victorian government, it’s worth noting, is also handing out $3000 rebates for EVs under the same threshold of $68,750, so all of these cars would be eligible for that as well – although they would not receive a stamp duty waiver.
Hyundai IONIQ Electric 2020
Hyunda IONIQ Electric has a starting price of $48,490, so this car is well within the threshold for both the $3000 rebate and the stamp duty rebate.
At that price, NSW would normally charge you $1,785 in stamp duty, so all told the NSW policy will save you $4,785 on an a new Hyundai IONIQ. Read our review here.
The Ioniq Electric. Source: Hyundai
Hyundai Kona Electric
The Kona Electric Elite has a starting price of $62,000, so the reforms will save you a total of $5,200. The more upmarket Kona Electric Highlander is $66,000 before on-road costs, so the reforms will save you $5,400. Read our review here.
The 2021 Kona Electric (LHD model shown). Source: Hyundai
MG ZS EV
The MG ZS EV is the cheapest electric vehicle available in Australia, at a starting price of $40,990 before on-road costs. It is therefore easily eligible for both rebate and stamp duty waiver, which will save you at least $4,230. Read the review here.
MG ZS EV. Image: MG UK
Tesla Model 3 SR+
At a starting price of $62,900 before on-road costs, this is the only Tesla in Australia that is eligible for the $3000 rebate and the stamp duty waiver (every other model, including the longer range Tesla Model 3s, cost more than $78,000). With 423km real world driving range and the ability to reach 100km/hr in 5.3 seconds, it is still very much a Tesla. NSW’s new policies will save you $5,245 on this car. Read our reveiw here.
Tesla Model 3. Source: Tesla
Nissan Leaf
At a starting price of $49,990, the popular Nissan Leaf will cost $4,600 less under the NSW policies. The newer Nissan Leaf e+, which has a bigger battery pack and an increased range, costs $60,490 before on-road costs. You’ll save $5,125 if you get in before the 25,000 rebates are used up. Read our review here.
Source: Nissan
Mini Cooper SE
The electric version of the classic British car costs $59,990 before on-road costs, so will be eligible for the rebate. In total, the NSW policy will knock $5,100 off the price.
New Mini electric hatch with multi-tone roof. Source: BMW
Kia e-Niro
The recently launched Kia e-Niro – which we reviewed here – starts at $62,590. So under the NSW incentives, you will save $5,230.
James Fernyhough is a reporter at RenewEconomy and The Driven. He has worked at The Australian Financial Review and the Financial Times, and is interested in all things related to climate change and the transition to a low-carbon economy.