The Government is providing interest-free loans to two companies to boost the number of electric vehicle public chargers around the country. Video / Mark Mitchell
The Government has announced more than $50 million in interest-free loans to double the number of EV public chargers across New Zealand.
ChargeNet and Meridian will also co-invest $60m in the scheme, raising the total to $110m.
The 2574 new charge points include 1374 DC fast chargers and 1200 ACchargers.
Transport Minister Chris Bishop said research showed that the lack of public chargers was holding many back from switching to an electric vehicle.
“Concessionary loans bring forward private investment in public EV charging infrastructure by lowering the cost of capital, while keeping the taxpayer’s contribution to a minimum.”
Bishop said the average loan per charge point is $20,000.
“But once repayments are factored in, the net cost to the Crown is around $10,000 per charger, roughly a quarter of what a direct grant would cost.
“We’re also changing our planning rules to make the installation of public EV chargers a permitted activity under the RMA, meaning in most cases no consent is required.”
DC fast chargers deliver power directly to the battery and can charge a car in 20 to 60 minutes, making them suited to highways and destinations where people stop briefly.
AC chargers are slower and better suited to places where cars are parked for longer periods, like shopping centres, workplaces and residential areas.
Bishop said half the new chargers would be spread across Auckland, Hamilton, Tauranga, the Wellington region, Christchurch and Dunedin.
“The other half throughout the regions, so drivers outside the main centres will benefit too.”
According to government figures, New Zealand has roughly 1800 public charging points – the lowest charger-to-EV ratios in the OECD.
Since the start of the war in Iran and increasing fuel insecurity, electric-vehicle sales have jumped by up to 50%.
Transport Minister Chris Bishop. Photo / Marika Khabazi, RNZ
EV City owner Dave Boot said sales of electric vehicles at his Christchurch business had increased by at least half this month compared with February, while Auckland’s ACEV director Greg Larsen said his firm’s EV sales were up about 30%.
