Government boosts on-street EV charging with £65m investment

The Chancellor has announced a £65 million boost for on-street charging, while reports suggest help could be on the way for private electric vehicle (EV) buyers.

In a major speech on economic growth yesterday, Rachel Reeves said that the Government’s National Wealth Fund (NWF) will take a £55m equity stake in Connected Kerb, with another £10m in investment from Aviva Investors.

The investment is one of the first announcements to come from the National Wealth Fund’s new remit.

Formerly, the UK Infrastructure Bank, it is the sovereign wealth fund of the UK. 

Future of roads minister, Lilian Greenwood, 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.

“With a further £6 billion in the pipeline from industry by 2030, the switch to EVs is driving investment across the country, supporting jobs and making the UK a clean energy superpower to deliver our plan for change.”

Chris Pateman-Jones, Connected Kerb CEO, added: “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. 

“We are delighted to have such high-profile investors who are deeply aligned with our sustainability and ethical goals.”

Vicky Edmonds, CEO of EVA England, says the investment is a “welcome boost at the right time”. 

“When drivers considering the switch to electric need the reassurance that EVs and their supporting infrastructure work for them,” she added.

By Gareth Roberts