Chancellor of the Exchequer Rachel Reeves has announced a £55m boost for on-street charging, alongside reports the UK Government is set to support electric vehicle (EV) purchasing too.
The charge point cash will come from the government’s National Wealth Fund (NWF), which will take an equity stake in firm Connected Kerb, and it includes another £10m in investment from Aviva Investors, bringing a total of £65m for delivery.
This investment is one of the first announcements to come from the NWF’s new remit, and the UK Government hopes it will highlight its commitment to both the electric vehicle sector and the charging industry across the UK as it moves towards 2030 targets.
Connected Kerb is aiming to quadruple its charging sockets to 40,000 as a result of the fresh round of cash, and described the investment as “critical for delivering the forecast requirement of at least 300,000 public EV chargers by 2030”.
It also comes as reports in the Financial Times claim that the UK Government is also in discussions with the automotive financial sector to deliver low or even interest-free loans to assist EV sales. According to the news, the government would underwrite the loans, reducing the costs of monthly repayments for drivers, and therefore also lowering the overall cost of an EV purchase.
The moves is also ahead of the outcomes of its consultation on the ZEV Mandate and the 2030 phase-out of petrol and diesel vehicles, which is due next month.
The reports also follow last week when Reeves said she would introduce a new approach for the NWF, and the Office for Investment (OfI), in order to work with local leaders to build pipelines of incoming investment and projects linked to regional growth priorities.
This includes the NWF trialling Strategic Partnerships in Greater Manchester, West Yorkshire, West Midlands, and Glasgow City Region and the OfI piloting an approach in the Liverpool City Region and the North East Combined Authority to connect their regions to central government and industry expertise in order to unlock private 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. We are delighted to have such high profile investors who are deeply aligned with our sustainability and ethical goals.”
John Flint, National Wealth Fund CEO, said:
“To get to net zero we need to make it as easy as possible for people to change the way they do things. Providing convenient and reliable on-street charging is key to helping those without driveways make the switch to electric vehicles. Our investment in Connected Kerb will support one of the UK’s leading public charge point operators to continue its network expansion and deploy this much-needed EV charging infrastructure at pace and at scale to homes and businesses across the country.”
Angenika Kunne, Head of Infrastructure Equity, Aviva Investors, said:
“We are pleased to continue to support the journey to net zero with our ongoing support of Connected Kerb. Our increased commitment reflects our belief in Connected Kerb’s position as a leading EV charging network providing reliable end user solutions to enable the transition to electric vehicles for the mass market. The unique offer of Connected Kerb’s advanced site selection and user software provides a compelling proposition for both Aviva Investors clients and the end user.”
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 20k public charge points added last year.
“With a further £6bn 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.”
Juliet Davenport, Connected Kerb Chair, said:
“We are incredibly proud to receive this substantial investment from the National Wealth Fund and Aviva Investors. This funding will enable us to significantly expand our EV charging network, making electric vehicle charging accessible to everyone, especially those without driveways. This investment not only supports our growth but also aligns with our commitment to reducing carbon emissions and promoting flexible clean energy solutions across the UK.”
Additional industry reaction:
Dominic Phinn, Head of Transport at Climate Group, said:
“The Government’s pulling in the right direction. New incentives for private buyers and more accessible charging points are exactly what’s needed. But to keep the UK’s EV transition on track, Labour needs to go truly further, faster – and initiate a bold national mission around EV infrastructure. That means bringing together the energy, charging, automotive, and public sector to advance the UK’s charging and grid infrastructure with much greater urgency and ambition. There’s a huge opportunity here for a new deal that works for industrial growth, consumers – and the climate.”
Vicky Read, CEO of ChargeUK said:
“ChargeUK members are supporting economic growth by rolling out charging infrastructure at an incredible pace. A new public charge point goes into the ground every 25 minutes on average.
“We welcome the Chancellor recognising the important role of our sector in driving growth in her speech.
“Our members are committed to investing £6 billion in the UK up to 2030 to ensure we remain on track to deliver infrastructure ahead of demand, enabling the UK to switch to EVs.
“To secure this funding, and ensure it has maximum impact on the UK’s growth agenda and clear energy ambitions, we need to see existing EV sales quotas confirmed, barriers to charge point deployment, such as slow grid connections, addressed, and steps taken to ensure drivers can charge affordably, including equalising VAT on home and public charging.”
Trevor Hutchings, CEO of the REA, said:
“Whatever the merits or otherwise of expanding London’s airports, one thing is clear, Government must now work even harder to accelerate decarbonisation across the economy if we are to achieve net zero. This means ramping up ambition for sustainable aviation fuels, investing in new innovations such as battery electric and hydrogen planes. It also means addressing grid constraints, electricity market reform, ensuring Bioenergy Carbon Capture and Storage schemes get off the ground, addressing energy efficiency and heating in homes, and investing in EV charge points – all on the government’s to do list. The refreshed carbon budget delivery plan must reflect these challenges so that we can secure further investment in the UK’s renewables and clean tech sector and achieve the growth the Chancellor rightly has her eye on.”
Vicky Edmonds, CEO of EVA England, says:
“An additional £65m for on-street charging 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. We know many drivers don’t have the means of charging at home and it’s vital for this type of charging to continue developing at pace.”
Motoring Broadcaster, Transport Campaigner and Founder of FairCharge Quentin Willson, said:
“While I’m heartened to hear that improving the UK’s electric car charging infrastructure was part of the Chancellor’s announcements, it’s only £65 million, which given the challenges ahead, isn’t a huge amount. And, those new kerb chargers will still, as I understand it, have the contentious 20% VAT applied to their electricity supply, now known as the ‘Pavement Tax’.
“Yes, let’s help consumer make the switch to EVs and build more street chargers but let’s also make them cheaper to use.”
Sam Rawson, Enterprise Director at EV charging platform Monta, commented:
“Today’s announcement from the chancellor to expand the UK EV charging network is an overdue, but strong signal from the new administration that will hopefully start to rebuild confidence in businesses that want to invest in the UK.
“The UK has made significant progress in recent years with over 73,000 chargers available on the existing public network. However, the difference in per capita availability compared to other countries like Norway – which has embraced the transition to electric power and has 447 chargers per 100,000 people versus just 89 in the UK – is a stark reminder that the UK is still lagging behind.
“Perhaps the chancellor has taken inspiration from Norway’s success with its government-led support for electrification. For over three decades, Norwegian policymakers have embraced a consistent message and introduced driver incentives that make EVs a practical and cost-effective choice. These incentives have turned the tables of EV ownership from being not only an eco-conscious decision but also a financially savvy one.
“I hope this announcement from the chancellor manifests into long-term policies that prioritise EV charging infrastructure and support consumers in the transition away from internal combustion engine (ICE) vehicles.
“For charge point operators (CPOs) the cost of infrastructure development remains a challenge. Rapid deployment of fast-charging stations, particularly in rural and less densely populated areas, requires investment and innovative solutions – not just from the Government, but from the business community too. Collaboration across the entire EV ecosystem – Government, manufacturers, energy providers and CPOs – is essential if these costs are to be addressed.
“Private-public partnerships and coordinated efforts will be the key to creating a charging network that serves the needs of millions of future EV drivers in the UK.
“Ultimately, we need to ensure that EV ownership and charging become more convenient, affordable and attractive than ICE vehicle refuelling. Norway’s journey to becoming a global EV leader was no overnight success; it was a long-term, well-executed plan – a blueprint the UK can and should emulate.”
