EV and Hybrid vehicle types
Battery electric vehicles
Battery electric vehicles (BEVs or most commonly referenced as EV's) are fully electric and powered only by electrical energy stored in a battery. A BEV produces no tailpipe emissions. They are charged using an external electricity source, plugged in at home or at a public charging station. According to Genless, most new BEVs are capable of making a 300km drive on a single charge.
Plug-in hybrid electric vehicles
Plug-in hybrid electric vehicles (PHEVs) have two engines, both a conventional internal combustion engine (ICE) fuelled by petrol or diesel, and an electric motor and battery, which can be powered by an external source. They have a smaller battery than a fully electric car, limiting the range the vehicle is able to travel in pure EV mode to between 15-20km for older vehicles (newer models can travel up to 60km). Once the power stored in the battery has been used, the petrol / diesel engine will automatically take over.
Hybrid vehicles
Hybrid vehicles have a conventional internal combustion engine (ICE), which is aided with a small electric motor which supports greater fuel efficiency over regular petrol / diesel vehicles. The electric motor is charged through regenerative braking, rather than being plugged in to an external source.
You can read more about EV vehicle types at Genless.
Upfront costs of an EV
The costs of EV's vary substantially, and there's a range of vehicles catering for different budgets. We recommend checking out Drive electric where you can find detailed information, including the upfront costs, range and performance stats, for all models of EV and Hybrid vehicles that are currently available in New Zealand.
See what you could save
Rewiring Aotearoa have built a tool to show what you could save by going electric in your household.
Answer the questions about your household and you'll get an assessment showing:
- What you could save on your energy bills
- What upfront costs you may have to pay
*The calculator provides an estimate of cost savings for the average household and should not be used as financial advice. We recommend carrying out further due diligence and consulting with professionals before making any decisions or carrying out installation work.
Get an EV with the ASB Better Homes Top Up
You could access up to $80,000 at 1.00% p.a. interest, fixed for 3 years (minimum 20% equity), to make electric upgrades to your home.
Put it towards an EV and charger, the installation of solar panels, or a range of other appliance updates aimed at improving the efficiency of your home.
ASB Bank Limited's lending criteria, terms and exclusions apply. Rate, offer and fees may change. Refer to asb.co.nz for eligibility criteria and other fees and charges. At the end of the fixed rate period our Housing Variable Rate will apply. See asb.co.nz for details. An early repayment adjustment may apply if you break a fixed rate term.
Charging your EV
Using an EV should mean that you'll be spending far less at the fuel pump (and none at all if the car is fully electric), but you will need to ensure your vehicle is charged.
Electric home report
Most EVs come with a three-pin plug and can be charged at home either using a regular power point or a wall mounted charging unit. According to EECA, wall mounted charging points will charge your EV faster and more safely than a regular three pin plug. Expect to pay about $1,500 - $2,500 for a smart charger installed (and more if wiring needs to be changed). You can find more information on EV chargers and a list of approved products at EECA.govt.nz
The public charging network
The public charging network is expanding and according to Genless, you can now find public chargers at least every 75km along most of New Zealand's state highways. The New Zealand Transport agency (NZTA) has compiled a map of all public charging stations from across the country.
There is also an increasing network of charging stations available in public spaces such as shopping centre carparks.
Why switching to an EV could be right for you:
Cheaper running costs
Charging your EV at home could mean that you'll be paying about $3 per 100km travelled. This could reduce even further if you have solar panels installed.
Low maintenance costs
EVs have fewer moving parts than petrol combustion engines, so there are fewer bits to service or replace over the years, typically reducing the cost of ongoing maintenance.
Low emissions
EVs are powered by electricity from our large renewable grid system and do not emit any tailpipe emissions.
The best time to switch
The best time to get an EV is up to you. If you already favour lower emission transport options or rarely drive, it might not be a financially practical choice for you in the short term.
If you have already installed solar and can charge at home, the running costs are likely to be very low compared to a petrol equivalent. A home battery alongside solar would mean you can charge from your solar reserves at night, minimising your energy bills.