Supercars management are currently scoping the Taupo facility as an alternative to the now-closed Pukekohe.
It is thought that Taupo is now leading the race to host a return to New Zealand, taking over the favourite mantle from Hampton Downs.
Both circuits are owned by Tony Quinn, with Taupo's more regional location thought to be a hook to secure funding for the event.
Federal government backing is now required for the event to happen given there is no suitable circuit inside the Auckland state borders.
Auckland Unlimited had funded the Pukekohe event but, understandably, won't fully fund an event being held interstate.
Both Taupo and Hampton Downs are located in Waikato.
Supercars is hoping to return to NZ next season, however CEO Shane Howard has previously said that will require a green light on both funding and a venue by the end of this month.
As for this latest exploratory trip across the Tasman, Howard said: "Currently, our focus is on finding a new racing location in New Zealand as we have progressed quite far into the process.
“Taupo and Hampton Downs are two potential circuits that could meet our requirements, and we are currently assessing Taupo with a team on-site this week.
“Given that there is no circuit in the Auckland area, we have proposed the opportunity to Major Events New Zealand, and they are currently in the process of evaluating our submission.
“Given its location in a regional area that can host major events, Taupo has been identified as a potential option, and we are exploring this avenue.
“We have a huge fan base in New Zealand and want to get back there as soon as we can to show off our Gen3 product and the best touring car category in the world.”
Taupo, a 3.5-kilometre, FIA Grade 3 circuit has hosted international categories before, most notably A1GP.
However there have been concerns over whether the lakeside resort town would be suitable for accomodating both teams and visitors to the area should it host a Supercars round.
Series champion Shane van Gisbergen, who has been fiercely advocating for a return to New Zealand, highlighted that concern to Motorsport.com recently.
"I've been vocal about [returning to New Zealand] every chance I get and I won't stop," said the Kiwi. "I know Supercars is truing a hard as it can, and that's awesome.
"For me, I think A1GP showed that Taupo can't host big events – the town's not really big enough with the distances people were having to travel to get accomodation.
"I think it's tough with Hampton [Downs] being just outside Auckland, to get Auckland council support. But really that's the biggest track we could have [Supercars] at on the North Island."
