Jenny McAllister (NSW, Australian Labor Party, Assistant Minister for Climate Change and Energy) Share this | Hansard source

Nearly one in 10 new cars purchased is now an EV, and that's up from just two per cent under the former coalition government. The thing is that those consumers are making a choice, and the choice that they are making requires them to have access to charging facilities. Under this government, we think that's important because we know that when you purchase an EV there are substantial savings available to you on fuel. And it's why, under this government, the number of EV charging locations has nearly doubled in 16 months to around 900 as of March 2024. We've also seen a 131 per cent increase in ultrafast charging locations.

We want to make sure that existing industries, businesses and stations are part of that transition. We announced in August, as your question points out, that CEFC capital will be available to finance a range of clean energy technology measures at Ampol service stations across the country, and that is to accelerate the decarbonisation of its operations, to kickstart its biofuel development and to drive down national transport emissions. The thing that you need to understand, Senator Rennick, is that all of these CEFC investments are made with the expectation of a positive, risk based financial return.

It's a program that has actually been running for more than a decade. It's a legacy, in fact, of the last Labor government. It's been very successful and it's an important institution that has been able to leverage significant new capability and capacity in the Australian economy. It's a good application of the power of government. I am surprised that, for someone who's interested in how the economy develops, it's not of more interest to you. (Time expired)