The 2023 Melbourne EV Show, held at the Melbourne Convention and Exhibition Centre in September, was a celebration of all things electric vehicles, from rows of the latest makes and models themselves to well-crafted presentations from learned and passionate industry speakers.

EVs’ Growing Popularity

One key takeout from the day was that the Federal Government’s Electric Car (EV) Discount has been a game-changer in terms of EV affordability, as evidenced by the dramatic spike in take-up in 2023 reported in VFACTS’ December 2023 report, which saw battery electric cars (BEVs) increase by 161% when compared with 2022.

As of the end of 2023, VFACTS reported that BEVs comprise 7% of the Australian car market, up from 3% at the end of 2022.

One EV Show attendee, not sold on the idea of electric, asked one of the guest speakers just what makes EVs better, putting aside any environmental benefit. Her response was short and pointed: “They’re fun to drive.”

These sentiments are likely echoed by the thousands of Australians who have had the chance to get behind the wheel of an electric vehicle.

The Electric Point of Difference

Their point of difference is obvious as soon as you’re in the driver’s seat. You turn on the ignition and… there’s no sound. If the dashboard didn’t light up, you’d be forgiven for questioning if the car is even on, and it remains quiet as a mouse even when you’re moving.

Additionally, EVs ordinarily have a lower centre of gravity compared to petrol cars – which could offer better handling, comfort and responsiveness. But it’s the zippy, instant torque that really amps up the fun. You’ll be surprised just how quickly they accelerate from a dead stop – a bit like your own high-performance race car. Where petrol cards have multiple gears to navigate through, EVs have one gear, allowing for seamless acceleration, with barely little more than a gentle push on the accelerator. They’re designed for optimal driving in all road conditions.

One Maxxia staff member who test-drove a Tesla Model Y says: “The best metaphor I can conceive of… is that it’s like driving an enormous smartphone. Another way to put it might be: ‘the hype was all true.’ While it looks and feels like a car, and while the mind-bending acceleration and torque of the thing earn it top marks for performance, it really is the technology that makes the Tesla such a remarkable piece of engineering.”

The Value of Regenerative Braking

Most new EVs also offer the ability to extend range through what’s known as regenerative braking. Each time you brake or remove your foot from the accelerator when cruising along, such as on a downhill section, you effectively return energy to the battery.

A Tesla Model 3, for example, has three adjustable driving modes: “Creep,” (where the car slowly moves once you take your foot off the brake); “Roll” (similar to a conventional car in neutral, in which it will roll with the force of gravity); and “Hold (wherein the car will slow itself down once your foot is removed from the acceleration, in turn delivering a small charge to the battery).

The rEVolution is Here

A long-awaited mandatory fuel efficiency standard is expected to drop soon, helping reduce CO2 emissions through the launch of many new EVs into Australia – meaning many more opportunities for fun.

With government incentives, falling battery prices, and a willingness from car manufacturers to launch cars that fall within the Federal Government’s FBT exemption cap, electric vehicles are closing in on price parity with ICE vehicles.

Throw in the fact that charging infrastructure, like EV sales, is on a rapid ascent, and there’s never been a better time to switch to electric, and there’s no better way than through a Maxxia novated lease.