The report states that by the end of 2024, New Zealand had 1,378 public electric vehicle chargers, with a ratio of approximately 84 vehicles per charger. The government’s goal is to increase the total number of charging stations to 10,000 by 2030, improving the ratio to 40 vehicles per charger, thereby eliminating consumer "range anxiety" and making electric vehicle ownership as easy as possible.
Pead stated that electric vehicles currently account for over 2% of New Zealand’s light vehicle fleet, and this is expected to reach around 11% by 2030. Under the current circumstances, the private sector is often reluctant to invest in charging infrastructure due to insufficient demand, and the growth in charging needs is limited by the shortage of public charging stations. This "chicken or egg" dilemma is hindering the widespread adoption of public chargers, and government intervention is needed. The government plans to learn from the successful ultrafast broadband program and adopt a more mature, commercialized procurement approach.
Pead mentioned that up to 68.5 million Singapore dollars have been reserved to provide concessional loans to assist private operators in co-investing in public charging infrastructure. Compared to traditional grants, loans can be implemented more quickly, while reducing complexity, costs, and risks, thus encouraging private sector investment in public chargers sooner. Maximizing private sector participation also helps achieve more outcomes with less taxpayer money. These concessional loans will cover up to 50% of project costs and will be awarded through a competitive joint investment bidding process, with zero interest and a maximum term of 13 years. Applicants can submit bundled proposals for constructing multiple charging stations.
The report states that in New Zealand, electric vehicles emit at least 60% less over their entire lifecycle compared to petrol cars. The new electric vehicle charging initiative will be managed by NIFFCo (New Zealand Infrastructure Funding and Finance Corporation), with support from EECA (Energy Efficiency and Conservation Authority) as needed.