Sales for EV giant BYD, which entered the Australian market in 2022, increased nearly sixfold to more than 12,000 vehicles last year.
That’s created a powerful tailwind for electric car demand. EVs accounted for 7.2% of Australian new car sales in 2023, up from 3.1% a year earlier. “The opportunity is very clear,” said David Smitherman, chief executive at EVDirect, BYD’s distributor in Australia. Chinese state-owned SAIC Motor will launch three new models this year under its MG brand, including the MG3 plug-in hybrid and MG Cyberstar electric roadster, taking its EV/hybrid product line-up in Australia to five.
Chinese startup Leapmotor, which has partnered with Stellantis to expand globally, has designated Australia as a priority market noting its lack of local car makers. The country’s three most populous biggest states — home to Sydney, Melbourne and Brisbane — have also set goals for EVs to account for 50% of all new car sales by 2030, giving generous rebates on EV purchases and investing heavily to build charging stations.
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