Australia unveils its favored approach to emission regulations aimed at accelerating the adoption of electric vehicles

SYDNEY, Feb 4 (Reuters) – Australia unveiled its “preferred model” for upcoming standards on vehicle emissions on Sunday, marking a significant step toward finalizing regulations to encourage the widespread adoption of electric cars. This aligns with the standards prevalent in the majority of developed economies.

Australia's Drive Towards Fuel Efficiency: Unveiling Policies and Targets for Electric Vehicle Adoption and Cost Savings

The plan for fuel efficiency standards, a policy championed by advocates for its potential to prompt manufacturers to introduce more electric vehicles to Australia and drive further adoption, was introduced last year by the center-left government. This government, elected in 2022 with a commitment to climate policy reforms, initiated the roadmap.

According to the Labor government, aside from Russia, Australia stands as the sole developed country without established fuel efficiency standards or ongoing development in this regard.

When unveiling its “preferred model” on Sunday, the government expressed a preference for an option that aims to “align Australia with U.S. standards by 2028 and deliver the best cost-benefit outcomes for Australian car buyers.” The proposed new standard, intended to be implemented from January 1, 2025, is projected to result in savings of A$100 billion ($65 billion) in fuel costs for motorists through 2050, as stated by Energy Minister Chris Bowen.

Australia Achieves Record Electric Vehicle (EV) Sales in 2023, But Emissions-Intensive Trucks and SUVs Still Dominate Light Vehicle Market, Posing Challenges to Emission Reduction Goals" Transportation, a major contributor to Australia's emissions, sees a surge in electric vehicle sales in 2023. However, the continued dominance of emissions-intensive trucks and SUVs in light vehicle sales poses challenges to the government's commitment to reducing emissions by 43% by 2030. ($1 = 1.5356 Australian dollars)

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