About 50 people were in the Octagon to see the new Mercedes Benz ambulance unwrapped at an unveiling ceremony at which ASB general manager branch banking Grant Gilbert, of Christchurch, said the Mercedes-Benz ambulance was worth $186,000.
The money raised was from donations and fundraising, mostly from a campaign selling more than 10,000 toy ambulances in branches across New Zealand, for $15 each, in December last year.
St John Dunedin area committee chairwoman Annette Tiffen said the campaign was akin to the saying "mighty oaks from little acorns grow".
"From the sale of 10,000 of these little ambulances, we now have a mighty big one."
Mr Gilbert said the new technology inside the ambulance including an automated Powerload Stryker Stretcher, which could carry 318kg and was expected to help reduce ambulance crew lifting injuries in Dunedin.
St John South Island fundraising and marketing manager Debbie Pipson said the ambulance was a "much-needed" replacement in the Dunedin fleet of nine ambulances.
The new ambulance would be "on the road saving lives" next week, she said.
