2 October 2024 – ChargeNet transaction enables acceleration of national EV infrastructure
ChargeNet, Aotearoa New Zealand’s nationwide EV charging network, said the acquisition of a majority shareholding in the company by Genesis Energy would accelerate the rollout of the public EV charging network.
For the last nine years, ChargeNet has pioneered investment in the country’s fast-charging public infrastructure. ChargeNet operates the country’s only nationwide EV charging network with 250 public charging sites and 430 individual charging points.
Chief Executive Danusia Wypych said the transaction with Genesis Energy came at the right time to continue to accelerate the company’s investment in the country’s critical EV charging infrastructure.
“We’ve worked with Genesis for a number of years and are delighted to be able to team up to take the electrification of transport to the next level. The cost savings of driving electric could save a family over $2,000 per year.
“Supporting EV ownership through investment in the infrastructure is one of the most tangible ways to make the switch easy and reliable and to drive long-term change towards a more affordable, sustainable transport system.”
She said the transaction was an acknowledgement and recognition of the courage and vision of ChargeNet’s original two founders, who invested their own capital in the early network, as well as the early support of cornerstone shareholder, Mercuria.
“There is real momentum in ChargeNet’s investment programme with 100 new or upgraded
charging points across 20 large-scale sites already completed over the last 12 months.
“Joining with Genesis is a recognition of the huge social, economic and environmental opportunity facing New Zealand to build new EV charging infrastructure on commercial terms in order to continue to support the rapid electrification of transport. The investment allows us to run hard at an intensified delivery programme which could double our rate of installation.
“Sustained and long-term commercial investment is now required to ensure New Zealand builds off its base and maximises the transformational opportunity of transport electrification. We’ll continue to look for ways to support the Government’s commitment to 10,000 chargers.
“There are no changes for our customers. They can continue to use our leading-edge app to charge their EV and then get on their way.”
Ms Wypych said even with ChargeNet’s investment leadership, New Zealand’s ratio of public EV fast chargers per EV was the lowest in the OECD and the scope for growth was significant.
“Over the last three years, EV ownership has increased by 200 per cent. There’s been a slowdown this year as policy has shifted but the fundamentals of electrification are sound, with at least 30 per cent of Aucklanders considering buying an EV over the next three years and with EV prices continuing to fall.
“The price of a brand new Nissan Leaf recently fell below $30,000, making it the cheapest compact new car in the market. With more than 120 EV options in the New Zealand market and a growing second-hand market, more and more New Zealanders can make the switch to electric with confidence,” she said.
Recent ChargeNet investments in major new multi-charge point hubs in places like Albany and Tauranga were showing rapid growth in demand.
For more information on ChargeNet and to find a fast-charging station near you, please visit charge.net.nz/map.
