Slower EV adoption forecast

Electric vehicle adoption might slow down in New Zealand.

That’s the view of UBS New Zealand research analyst Jeremy Kincaid, the business providing services in investment banking, equities trading and research.

Kincaid pours cold water on the immediate threat posed by electric cars, saying he expects fuel demand to peak in 2030 as demand for aviation fuel is driven by tourism growth, the New Zealand Herald

reports.

“We have revised our EV uptake to mimic that of Japan as four out of five imports into New Zealand come from Japan,” Kincaid says.

“However, we have made some adjustments which slow EV adoption in NZ due to NZers’ love for larger vehicles, few EV options and no Government incentives.”

Kincaid this week released a note upgrading Z Energy to a “buy”, on the back of his analysis that the EV market is likely to take longer to develop than expected and the retail fuels market will not be regulated, the NZ Herald says.