EV infrastructure co-funding model welcomed – ChargeNet

ChargeNet, the country’s largest public EV charging provider, today welcomed government’s co-funding commitment to begin to address the significant infrastructure deficit in the country’s public EV charging network.

The government has confirmed $68 million in co-funding for public EV chargers, based on a concessionary debt model. The terms of the co-funding provide for zero per cent interest, with principle paid back over 13 years.

For the last decade, ChargeNet has led investment in the country’s public EV infrastructure. ChargeNet operates nationally with over 268 public charging sites and 510 charging points.

ChargeNet Chief Executive, Danusia Wypych, said the introduction of the new co-funding model was timely. She welcomed the commercial foundations of the scheme, including that it be overseen by the government’s new national infrastructure funding and financing body.

“When you look past short-term market fluctuations, it is clear that New Zealand’s passenger transport future is electric. There is more and more choice, EV prices continue to come down, and the economics of EV ownership are compelling and constantly improving,” she said.

“A significant barrier to the uptake in EV ownership is now the state of the country’s public charging infrastructure. New Zealand has the lowest ratio of public EV chargers per EV in the OECD and we must turn that around if we are to realise the massive economic benefits of electrification.”

Danusia said the concessionary debt co-funding model, the zero interest funding, and replication of the national ultra-fast broadband roll-out model would accelerate investment in EV infrastructure. The new governance structure would ensure financial discipline in commercial partnering, and the opportunity to submit portfolio bids could support investment in different charging locations and speeds.

She said that for company fleets looking to significantly cut operating costs, EVs made economic sense right now, and the expansion of public charging infrastructure would further support the practicality of large-scale fleet electrification.

“The public EV charging network is core strategic national infrastructure and we welcome the government’s acknowledgement of the need to increase investment ahead of rising EV demand. This co-funding is an important and timely step towards building the EV network that the country needs.

“ChargeNet looks forward to an opportunity to continue partnering with the government and co-investing in the infrastructure New Zealand needs in order to electrify our economy.”

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