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Electric vehicle fleets incentive: Competitive bid funding

Latest updates

Applications for round 5 are now closed. Round 6 opens soon. 

Register for updates to be notified when the next round opens.

Review the Guidelines

Your business can soon apply for a share of funding as part of our latest round of competitive bid funding to fast-track the purchasing of electric vehicles and smart chargers.

Round 5 closed on Friday 17 January 2025. Round 6 will open soon.

Competitive bid funding supports organisations to electrify their fleets

The competitive bid funding option of the electric fleets incentive is designed to support organisations with larger fleets that are beyond the pilot phase of their transition to EVs.

The competitive bid funding option is split into two streams:

The individual stream
For businesses that own or lease vehicles to support its operations in NSW including also vehicle rental/subscription services.   

The aggregator stream 
For businesses providing vehicles to customers in NSW through leasing arrangements and will pass the incentive onto customers.  

About the funding

Businesses like yours submit a bid for a share of the funding available as an incentive to partly cover the total cost of ownership (TCO) gap between the battery electric vehicles (BEVs) and equivalent internal combustion electric vehicles (ICEVs). Your applications are ranked against other bidders based on the funding requested per tonne of CO2-equivalent of emissions abated ($/tCO2e).

Ceiling price on average incentive per vehicle 

The Department may set a ceiling on the average incentive per vehicle requested, which will not be disclosed for the current round. For reference, final ceiling prices set in previous rounds were:

  1. Round 1: $12,500
  2. Round 2: $11,000
  3. Round 3: $9,899
  4. Round 4: $9,400
  5. Round 5: No ceiling price set

How to apply for the incentive

Step 1: check your eligibility

Are you ready to take your EV transition to the next level and are you looking for funding to procure larger volumes?

The competitive bid funding is open to any organisation that:

  • operates a fleet of 21 or more vehicles (ICEVs or BEVs), and
  • is applying for funding for 11 or more brand new BEVs.
Step 2: read the guidelines

Our guidelines and other resources have everything you need to know to complete eligibility criteria, understand compliance requirements and application process for the competitive bid incentive.

Step 3: sign up to the bidding platform

Once you have read the guidelines and supporting documents, sign up to access the online bidding platform and participate in the reverse auction. A summary of the bidding process is detailed below.

Bidding process

Stage 1 – Prepare for the bid

Select the type and number of BEVs you’re looking to procure.

The bidding platform will calculate the difference in the total cost of ownership (TCO) compared to vehicles that would have otherwise been purchased or leased, as well as the carbon dioxide equivalent (CO2e) emissions saved.

Once these amounts are calculated you’ll be able to request funding per vehicle, and the $/tonne CO2e (which is how you will be ranked against other bidders). This will be automatically calculated in the bidding platform. You can also indicate if you would like to receive an incentive for a smart charger and request the desired quantity. Once finalised, this information will be used for your initial bid.

Stage 2 – Register and place your initial bid

You’ll need to register to the online bidding platform to place your initial bid. You’ll also need to confirm that your organisation meets the eligibility criteria and can procure your nominated vehicles and smart chargers in the required timeframe. You won’t be required to provide upfront evidence to support the information in your bid (e.g., estimated annual mileage). We advise you to keep this information on record as the department will run sample checks on participants.

Stage 3 – View ranking and place your final bid

At the beginning of the final bidding stage, bidders will be provided with their current ranking compared to the most competitive bidder in the stream. You can either confirm or update your bid. You’ll only have just over a week to make your final bid. Refer to the key bidding dates outlined above.

Stage 4 – Results and funding deed for successful bidders

We’ll contact bidders to let them know whether they have been successful.

If successful, a funding deed will be supplied and must be signed by an authorised representative of your business and the department before your business is entitled to receive the incentive.

BEVs will need to be purchased and registered within 180 business days and evidence provided as noted in the guidelines before funding is provided.

Chargers procured and installed by 10 June 2025 are eligible for acceleration funding, otherwise they can be procured within 180 business days and receive the standard incentive outlined in the guidelines.

Information about EVs

Whether you’ve already started your EV transition journey, or you are still planning, there is a suite of NSW Government resources available. These will help you figure out costs, driving range, charging and more.  

Electric Vehicle tools and resources

Why buy an electric vehicle?

Which electric vehicle should I buy?

List of available EVs in Australia

Cost to own and drive an EV

Charging an electric vehicle

Find out where to charge your electric vehicle

Register your interest

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