The electric vehicle (EV) market in Australia is booming, with the Port of Melbourne filled with EVs awaiting owners.

A price war between Tesla and Chinese automakers like BYD has significantly reduced prices, making EVs more affordable for Australian consumers.

Chinese manufacturers are targeting the Australian market due to tariffs in other countries, offering more competitive options for buyers.

Despite a global slowdown in EV sales, Australia's market is thriving with EVs accounting for 8.1% of new car sales in May and sales up by 26%.

Models like the Tesla Model Y and BYD Seal are leading the pack, with popular models like the Tesla Model 3 and BYD Atto 3 seeing price cuts.

The BloombergNEF Electric Vehicle Outlook 2024 predicts a 20% rise in EV sales globally, indicating a bright future for EVs in Australia driven by competition and affordability.