May 2025 EV Market Update: Global Acceleration, Local Action

May 2025: Sustained Growth & New Opportunities

Electric vehicles (EVs) are continuing to gain momentum across New Zealand - mirroring a global surge in adoption and innovation. As outlined in the IEA’s 2025 Global EV Outlook, the EV transition is speeding up faster than many predicted, and New Zealand is poised to benefit. Here's your summary of the latest EV statistics, key trends, and why now is the time to go electric.

🚗 New Zealand EV Statistics – May 2025

EVs made up 11.1% of all new light passenger vehicle registrations in May, continuing a strong national trend:

• Battery Electric Vehicles (BEVs): 6.5% (down slightly from 7.3% in April)

• Plug-in Hybrid Electric Vehicles (PHEVs): 4.6% (up from 3.4% in April)

NZ’s total EV fleet has reached 123,759, including:

• 87,103 BEVs

• 37,740 PHEVs

This represents 2.56% of the total vehicle fleet on New Zealand roads.

Top EV models in May 2025:

• Polestar 2

• Tesla Model Y

• BMW i

• Polestar 3

• Kia EV3

🌿 NZ EV Trends & Positive News

New Zealand’s EV ecosystem continues to evolve in step with global developments:

• Fleet electrification is accelerating, particularly among large corporations required to report emissions under the Climate-Related Disclosures (CRD) regime. The IEA notes that commercial and fleet EV deployments are among the most cost-effective routes to scale.

• Businesses are embracing the long-term savings, as EVs offer significantly lower total cost of ownership through reduced fuel, servicing, and emissions obligations.

• Public-private partnerships are growing, with local councils, government bodies, and providers like Xube Energy working together to deploy more depot, kerbside, and destination chargers.

• Light commercial EVs and depot-based solutions are gaining momentum, following a pattern the IEA identifies as a global best-practice approach for logistics and utility fleets.

🌍 Global EV Highlights – IEA 2025 Outlook

The world is transitioning to electric vehicles faster than expected:

• EV sales are on track to exceed 20 million units in 2025, accounting for more than 25% of global new car sales—up from 14% in 2023.

• China leads with EVs expected to comprise ~60% of new car sales in 2025, thanks to domestic production capacity and policy support. Europe follows closely with strong regulation and incentives pushing uptake past 25%.

• Battery costs continue to decline, making EVs more affordable. The IEA reports that two-thirds of BEVs sold in China are already cheaper than their petrol or diesel equivalents.

• EVs are cutting global oil demand, displacing an estimated 1.3 million barrels per day in 2024. This trend is expected to intensify as EV penetration deepens.

• Charging infrastructure is scaling rapidly worldwide. With over 4 million public chargers now installed, the IEA highlights that fleet charging hubs are essential to sustain deployment and improve accessibility.

⚡ Why Make the Switch Now?

The global EV shift is no longer a trend—it’s a transformation. For New Zealanders, the benefits are clear:

• Growing model variety across all price points

• Increased public and private charging availability

• Financial savings across fuel, servicing, and emissions

• Alignment with corporate sustainability and ESG goals

Ready to electrify your fleet or home?

Xube Energy provides end-to-end EV charging solutions tailored for New Zealand businesses and property owners. Let’s drive your electric future together.

📩 Contact us today to learn more.