Economic Headwinds Have Not Blown Out EV Charging Demand, Says ChargeNet CEO

ChargeNet, New Zealand’s leading EV charging network, has pushed against Aotearoa New Zealand’s economic headwinds, reporting a 29% increase in year-on-year revenue growth from July to December 2024.

Despite a changeable market, with increased competition in the sector, utilisation of ChargeNet’s network outpaced an 11% increase in EV registrations over the same period. Over the July to December 2024 period, ChargeNet saw a 20% increase in energy delivered compared to the same time in 2023. ChargeNet says the continued growth highlights how the ongoing expansion and upgrade of its network has risen to accommodate unmet demand for reliable, high-speed charging infrastructure across the country.

ChargeNet CEO Danusia Wypych says the traditional summer peak in December 2024 saw record-breaking utilisation, with sessions exceeding 3,000 on several days, as EV drivers embraced the benefits of electric travel over the summer holidays.

“EV adoption in New Zealand continues to grow, and our latest data shows that drivers are actively using our network to explore the country,” she says.

“We’re seeing a positive shift towards greater utilisation of our high-powered 150kW and 300kW chargers, which make long-distance EV travel easier and more efficient.”

As expected, enroute charging (hyper-rapid charging points located on motorways, expressways, and highways) saw an uplift in activity over the summer period, with drivers relying on ChargeNet’s network for a smooth, efficient journey. Destination chargers (such as those installed at Foodstuffs supermarkets) have also proven their value, with new installations meeting customer needs and showing strong early usage.

In 2024, ChargeNet added or upgraded more than 150 new fast-charging points across the country—expanding its network by more than 50%. This ongoing investment aligns with ChargeNet’s commitment to doubling the number of chargers in its network within three years, an ambitious target announced in 2023. The acquisition of a majority stake in ChargeNet by Genesis Energy in 2024 will enable the company to maintain its investment in the country’s critical EV charging infrastructure.

Wypych acknowledges the increasing pressure of rising energy costs and the need for continued innovation within the sector to manage these and ensure the long-term sustainability of the EV sector. ChargeNet is partnering with Vector to conduct a Distributed Energy Resource Management Systems (DERMs) pilot programme this quarter, an initiative aimed reducing costs through optimising charging efficiency.

“Scaling a charging network in the face of rising costs and evolving market dynamics requires constant innovation. But we’re in it for the long game.

“If we look to established EV markets like Norway and China, the sale of new EVs has now overtaken ICE vehicles. In Norway, nine out of every 10 cars sold in 2024 was fully electric. In some markets EVs could reach price parity with their petrol counterparts as early as 2026, which will put some real juice behind the uptake of EVs in New Zealand.”

ChargeNet’s expansion and continued investment reinforce its role as the backbone of New Zealand’s EV charging infrastructure, ensuring that as EV adoption accelerates, the charging network is future-proofed and ready to support the transition.

For more information on ChargeNet and to find a fast charging station near you, please visit www.charge.net.nz/map.

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