More than half of Australian drivers would consider making the switch to an electric vehicle in the next five years, but hybrids are likely to lead the transition, according to new research from Money.com.au.

The nationally representative survey of more than 1,000 drivers found that 52 per cent are open to moving away from petrol and diesel cars by 2030. However, only 17 per cent would choose a fully battery electric vehicle (BEV), while 35 per cent say they would prefer a plug-in hybrid. Just three per cent of respondents already own an EV or hybrid today.

Money.com.au finance expert Sean Callery said the findings suggest hybrids will serve as the “stepping stone” for many Australians before going fully electric.

“While the majority of drivers may be in an EV by 2030, most will take an interim step with a hybrid, particularly until prices fall and confidence in battery performance improves,” Callery said. “Hybrids also provide more model choice across familiar brands, making them more accessible than BEVs for now.”

Generational differences were also highlighted. Gen Z drivers were the most likely to consider an EV in the next five years (58 per cent), but 42 per cent of them would opt for a hybrid over a BEV. By contrast, Gen X were the most likely to favour a fully electric car (23 per cent), followed by Millennials (20 per cent).

Despite rising interest, almost half of drivers (45 per cent) say they will stick with petrol or diesel. The main barriers to EV uptake include distrust in battery performance or longevity (21 per cent), high upfront costs (21 per cent), and limited charging infrastructure (18 per cent).

Other concerns raised were battery replacement costs, insurance premiums, resale value, and limited model choice.