The electric vehicle charging sector can deliver £15.5bn directly to the economy by 2035 and £385bn to wider transport electrification, but only with a “stable” ZEV Mandate, according to a report by LCP Delta.
LCP Delta’s report, Powering a decade of growth: the economic impact of UK EV charging, commissioned by charging industry association ChargeUK, provides analysis on the EV transition across the next ten years.
Charge point operators’ said investment could halve if the ZEV Mandate was altered again – reducing up to £2 billion in capital expenditure on infrastructure rollout – with a knock-on impact on the UK’s ability to seize the £385bn transport electrification prize.
It found that the 12,000 EV charging jobs in 2026 will scale up to 35,700, doubling to 71,500 including the supply chain if the Mandate remains the same.
Overall, it could facilitate 334,000 roles across the EV sector, including automotive and battery manufacturing, retail and servicing.
EV charging has a £2.5 billion annual turnover, a figure expected to climb to over £8 billion yearly by 2035 as both EV adoption and charging investment grow.
The industry spent £587 million in infrastructure capital in 2025 as it continued to invest ahead of demand and pre-profitability. This figure is expected to reach £8.4 billion over the decade and the analysis indicates the industry could attract £30 billion in external investment as margins improve and assets increase in value.
It also found if action was taken to address the cost of public EV charging, including VAT equalisation with home charging and relief from fixed energy costs, operators’ responses indicated an investment upside of as much as £5.7 billion in the same period.
A strengthening of the ZEV mandate, such as reversing the flexibilities which were introduced in 2025 allowing for manufacturers to borrow credits and sell more plug-in hybrid electric vehicles, has the potential to accelerate charging investment by 40% in the next five years.
Vicky Read, chief executive, ChargeUK said:
“The EV charging sector is already a British success story with more than 1.7 million chargers, including over 120,000 on the public network. This is the infrastructure that has made the sale of two million EVs possible.
“This new report shows that this success is just the start. There is a huge jobs and growth opportunity ahead, not just for our sector but for EV charging as a foundation for a globally competitive automotive industry, for a secure energy system, and for transport choices that deliver cheaper, cleaner driving. But the industry, which is pre-profit, is at an inflection point. Upcoming policy decisions are pivotal in determining whether it can deliver that growth.
“Government now has to choose. It can once again fold to voices calling for a slower transition, locking drivers into high petrol prices for longer and collapsing charging investment. Or double down to supercharge the transition with a stable ZEV mandate and lower cost public charging. This is the chance to unlock real growth and deliver a massive economic prize which improves the country’s energy security, health and climate impact.”
John Murray, head of EVs, LCP Delta said:
“Our analysis highlights the vast scale of the economic growth and job opportunities that the EV charging sector represents, unlocking up to £385 billion of GVA by 2035. As a cornerstone of the UK’s EV transition, the charging sector requires a clear and predictable pathway for growth — one that supports continued investment, keeps pace with rising demand, and enables operators to build sustainable businesses.
“As the market matures and utilisation increases, EV charging networks will increasingly generate the stable, long-term cashflows associated with infrastructure assets, attracting further investment from institutional and infrastructure investors.
“With a supportive and predictable policy framework, a future in which drivers benefit from a highly reliable charging experience, delivered by commercially sustainable businesses that contribute significantly to the UK economy — both directly and through wider multiplier effects — is well within reach.”
Image courtesy of Green Car Guide
