New online tool demystifies cost of EVs

An online tool aimed at demystifying the cost of running an electric vehicle (EV) has been officially launched by Transport and Energy and Resources Minister Simon Bridges this morning.

Speaking at the New Zealand Transport Fuels and Fleet Management Summit, Mr Bridges says research - by the Energy Efficiency and Conservation Authority (EECA) and the Ministry of Transport - shows around half of corporate fleet managers do not have information comparing the running costs of EVs with petrol or diesel vehicles.

“With 70% of new car purchases in New Zealand made by corporate fleets, this lack of knowledge is a big hurdle to overcome,” he says.

The ‘total cost of ownership’ tool allows fleet managers to compare the total cost of owning electric, hybrid, petrol or diesel cars, to better inform their decision-making.

“Purchasing decisions are about good information and good incentives – commercial, environmental, reputational – which will help businesses position themselves in an increasingly carbon-conscious world.” 

A lifecycle analysis report commissioned by EECA – to be released next week – shows electric vehicles are better for the environment and use less energy than petrol or diesel powered cars.

“The report shows that across their whole life – from resource extraction and manufacturing to driving and disposal – electric vehicles have 60 per cent fewer CO2 emissions than petrol vehicles. And, because of New Zealand’s high renewable electricity generation, they have 80 per cent fewer CO2 emissions when driven here.

“As the renewable proportion of our electricity continues to grow, the CO2 emissions from an EV in New Zealand will reduce even further.

“Reducing carbon emissions through the increased uptake of EVs – making the most of our renewable advantage – is definitely worth investigating,” Mr Bridges says.

The tool can be accessed here