Chancellor Rachel Reeves has announced a £65 million investment aimed at expanding on-street charging options in the United Kingdom. This move is designed to encourage drivers to transition to zero-emission vehicles and aligns with the nation's net-zero ambitions.
Speaking at the Siemens Healthineers facility in Oxfordshire, Reeves emphasised the government's commitment to accelerating economic growth through innovative policies. She acknowledged the tough choices made in the Autumn Budget to address the financial challenges inherited from the previous administration.
A significant portion of this investment, £55 million, is allocated to Connected Kerb, a London-based EV infrastructure company. This funding is expected to quadruple the company's on-street charging points to 40,000, a substantial increase from the 10,000 currently installed. The remaining £10 million comes from private investment, notably from Aviva.
This initiative is part of Labour's broader economic growth mission, which includes providing local authorities with additional funding to enhance on-street EV charging infrastructure. This commitment was previously outlined in the party's election manifesto.
The investment has been welcomed by various stakeholders. Car manufacturers, facing increasing pressure to meet rising EV sales targets ahead of the 2030 ban on new petrol and diesel car sales, see this as a positive step. The Society of Motor Manufacturers and Traders (SMMT) highlighted the need for existing EV sales quotas to be confirmed and for barriers to charge point deployment, such as slow grid connections, to be addressed.
However, the timing of this announcement coincides with revelations that Connected Kerb's CEO admitted to deliberately failing to file company accounts to avoid including a "material uncertainty" statement about its finances. This disclosure came just a week after the company received £55 million from taxpayers through Labour's National Wealth Fund.
Despite these concerns, the government's investment reflects a broader strategy to enhance the UK's EV infrastructure. Recent audits have shown a significant increase in approved planning applications for charging points, totalling over £500 million. This surge is expected to result in hundreds of thousands of new charging stations across the country, signalling a robust commitment to supporting the growing number of EV drivers.
