New research shows 23 per cent of Australians believe that insurers should offer additional discounts to EV drivers to boost uptake, according to finance experts Money.com.au.

But nearly a third (31 per cent) of those surveyed support extra discounts only if backed up by data showing that EVs are cheaper to repair or pose a lower accident risk.

However, almost half of Australians (46 per cent) oppose the same idea and argue that EVs are already subsidised enough through government incentives like the Fringe Benefit Tax exemption and state-based rebates.

According to Money.com.au, Australians are split between supporting discounts for green technology to accelerate EV adoption while wanting a level playing field when it comes to insurance pricing.

“We know from various studies that EVs are generally more expensive to insure, but many Aussies still don’t believe insurers should hand out discounts just for driving one, unless there’s clear data showing they pose a lower risk,” said Money’s Finance Expert, Sean Callery.

‘”While insurance costs for EVs are still higher today, they are generally offset by savings on running costs and the growing availability of cheaper finance options through green loans. As competition increases and EV prices continue to fall, the overall cost of owning an electric vehicle should become more accessible to more Australians.”

Based on current trends, Money.com.au reports that battery electric sales are projected to reach 126,279 units in 2025 – a 38.3 per cent increase year-on-year. If they continue to expand at a similar rate, that could double to 264,256 units by 2030.

Do you believe that EVs should be further discounted to accelerate adoption? Let us know your thoughts.