Why is there a price cap on BEV/FCEV passenger vehicles and sports utility vehicles (SUVs), but not light commercial vehicles (LCVs)?
Price caps are introduced to limit the use of the incentive to buy luxury vehicles. It also encourages original equipment manufacturers to prioritise bringing more affordable BEVs/FCEVs to NSW and Australia, helping to increase market options.
The RRP price cap on passenger vehicles and SUVs is $100,000 (including GST).
However, exemptions can be granted to the RRP price cap if the vehicle is required for a fleet’s business operation, and there is no alternate model that is fit-for-purpose.
Exemptions will be reviewed by the Office of Energy and Climate Change (the Office), and will require justification and evidence as to why an exemption is required.
Most LCV products fulfill the special purpose or fit-for-function criteria, and LCV products do not typically include prestige or luxury options. Encouraging new LCV models into NSW is a priority.
As such, there is no price cap on LCV models.