Smaller businesses lead the charge, for now
Micro and small businesses have been the fastest to use EVs, edging out their larger counterparts. The research shows that between 16-17% of micro and small businesses already use EVs or hybrid models, compared to 13.4% among commercial and corporate firms.3
Smaller businesses are expected to maintain this lead over the next 6-12 months, but larger businesses anticipate they will eventually overtake their smaller peers.
Moldrich says that employee-led uptake will likely play an even greater role in business EV adoption, with people drawn to novated leases that benefit from federal government exemption of fringe benefits tax (FBT). He notes that benefits employers too.
“However, the research also confirms that just 30% of all businesses are aware of the fringe benefits tax exemptions, and even fewer know about state government incentives such as stamp duty waivers or rebates.”
These concessions can vary for consumers and businesses and offer a range of savings. This includes Queensland’s Zero Emission Vehicle Rebate Scheme, where new EVs attract a $6,000 rebate, to New South Wales waiving stamp duty on electric light commercial vehicles. Reduced or zero registration costs are also not uncommon.
For larger businesses, there are a range of factors to consider that, once resolved, can pave the way for the introduction of larger EV fleets. Moldrich says fleet purchases are gaining momentum, but businesses must weigh supplying power on-premises or turning to fast-charge stations with added employee downtime.
“By default, many businesses are being asked to become experts in new areas and to run the numbers on how to run a fleet of EVs most effectively. This will change as more investment is directed towards charging infrastructure and battery technology advancements bring down charging times,” Moldrich says.