Chancellor, Rachel Reeves, has announced a £65 million initiative to expand on-street charging options for EV drivers. The move comes as part of the Government’s continued efforts to encourage more drivers to switch to EV.
The Government’s National Wealth Fund (NWF) is committing £55 million to acquire part ownership of Connected Kerb, a green EV charging company, with Aviva Investors providing an additional £10 million in funding.
Lilian Greenwood, Future of Roads minister, said: “Our charge point network is going from strength to strength, and it’s brilliant to see Connected Kerb secure a £65m boost to expand its charging network – a great vote of confidence in the EV transition. The funding follows a record of nearly 20,000 public charge points added last year.”
Speaking on the Government’s investment, Chris Pateman-Jones, Connected Kerb CEO, said: “This investment combines Connected Kerb’s proven hardware and advanced software infrastructure with the financial resources of NWF and Aviva to deploy public charging at scale, to all corners of the UK. This is a game-changing investment that will give individuals and businesses the confidence to make the switch to driving electric, dramatically reducing carbon emissions and air pollution.”
While positive about this step forward, Asif Ghafoor, CEO of national charging network BeEV cautioned: “It’s crucial we ensure it’s part of a larger vision – one that offers drivers a range of charging options, not just a one-size-fits-all approach. We need to ensure this investment supports a mix of solutions – from ultra-rapid hubs to convenient on-the-go charging points – so that every driver has reliable options, no matter where they live.”
The news comes in light of recent reports that the Government may also be working to lower the overall cost of EV vehicles for private consumers.
