New government funding to increase EV uptake and stimulate new technologies
A total of 15 projects have been conditionally approved to receive around NZ$3.5 million from the Low Emission Vehicles Contestable Fund, says Energy and Resources Minister Judith Collins.
The Fund was established as part of a package of initiatives to help stimulate electric vehicle uptake and meet the target of 64,000 electric vehicles on New Zealand roads by 2021. This first funding round was heavily oversubscribed with around 80 applications.
“The funding will provide up to 50 per cent funding for projects that will demonstrate and showcase low emission vehicle technologies in high-profile, visible ways that will help to normalise these technologies, and that can be implemented relatively quickly. I’m delighted that we’ve managed to achieve that in such a compelling way in the first funding round.”
“Electric vehicles are cheaper to run than petrol or diesel vehicles and, because they’re powered by our abundant renewable electricity supply, they will reduce the emissions that come from the country’s vehicle fleet. An electric vehicle in New Zealand produces 80 per cent fewer carbon emissions than a petrol or diesel powered vehicle,” Ms Collins says.
The second funding round, with up to $6 million available, is likely to open for applications in late February/March 2017. The Fund is administered by the Energy Efficiency and Conservation Authority (EECA).