EV drivers save up to $35,000 in fuel over vehicle lifetime – Evnex

New data from EV charger manufacturer Evnex suggests New Zealand electric vehicle drivers could save nearly $35,000 in fuel costs over the lifetime of a car, as rising petrol prices sharpen the cost advantage of going electric.

The company says EV drivers save an average of $2,364 per year compared with petrol vehicles, based on real-world charging data from its network of more than 9,000 chargers nationwide.

That equates to total savings of $34,987 over the average lifespan of a New Zealand vehicle, estimated at 14.8 years.

Evnex chief executive Ed Harvey says the scale of the savings is often underestimated.

“Most people know EVs are cheaper to run, but very few realise quite how dramatic the gap is,” Harvey says.

According to the data, charging an EV at home costs about $380 per year on average, compared with around $2,744 in annual petrol costs.

“When you break it down, the average EV owner is spending $7.30 a week on charging – barely more than an almond latte,” Harvey says.

“The idea that you can power your EV for a year for the same amount of money that a petrol driver spends in under two months is pretty staggering.”

Evnex says the figures are based on actual charging behaviour rather than modelled estimates, reflecting how EV owners charge their vehicles day-to-day.

The data also highlights how EV running costs compare with household energy use, with annual charging costs roughly equivalent to running two additional fridges.

Harvey says the findings come as petrol prices rise amid ongoing instability in the Middle East, placing renewed pressure on household transport costs.

“The cost-of-living conversation right now is real, and transport is one of the biggest household expenses,” he says.

“Petrol prices are rising significantly due to the Middle East crisis, and in the long term, we all know petrol prices only go one way: up.”

New Zealand has more than 135,000 registered plug-in electric vehicles, representing about 2.8% of the total fleet, while EVs accounted for around 11% of new vehicle sales in 2025.

Harvey says the country’s high share of renewable electricity adds a further advantage.

“With more than 80% of New Zealand’s electricity coming from renewable sources, this isn’t just a cost story – it’s an environmental one too,” he says.

“Every EV charged at home here is running on some of the cleanest grid energy in the world.”

He says the potential savings could make a meaningful difference for households.

“A saving of more than $2,000 a year is significant for any family. Over the life of a car in New Zealand, that’s enough for a decent deposit on your next vehicle – saved just on fuel.”