Australian fuel efficiency standards aimed at cutting petrol bills, ‘catching up’ with US

AutoExec Summary
The Albanese Government has announced the New Vehicle Efficiency Standard (NVES) for new cars, aiming to come into effect by January 1, 2025. Car companies will be given CO2 emission targets and can offset heavier fuel consumption vehicles with more fuel-efficient models. The government expects the standard to save $108 billion in fuel costs and reduce CO2 emissions by 369 million tonnes by 2050. The Climate Council and Electric Vehicle Council have welcomed the announcement, stating it will lead to cheaper, cleaner transport and better access to electric vehicles for Australian consumers.

Brands mentioned: Toyota, Ford