Chancellor Rachel Reeves has announced a £65 million investment in electric vehicle (EV) charging infrastructure as part of a broader plan to stimulate economic growth. A key focus of last week’s speech was improving on-street charging access to accelerate the UK’s transition to zero-emission transport.
The funding is earmarked for EV charging solutions provider Connected Kerb. The investment will come through the new National Wealth Fund (NWF) and Aviva Investors, with the NWF taking a 10% equity stake worth £55 million, while Aviva Investors contributes an additional £10 million.
A lack of on-street charging remains one of the biggest obstacles to EV adoption, particularly as a third of households in England lack off-street parking and rely on public charging points. With chargepoint availability uneven across the country, the government hopes this investment will help bridge the gap and boost demand for electric vehicles.
Labour has reaffirmed its commitment to banning new petrol and diesel car sales by 2030. The party’s pre-Election manifesto included targets for EV chargepoint rollout, as well as plans to ‘redirect the existing £950 million Rapid Charging Fund’ and ‘remove planning barriers to speed up deployment’.
In the Autumn Budget, the Chancellor pledged an additional £200 million for public charging between 2025 and 2026, with funding allocated to local authorities to support on-street charging projects across England.
See the BVRLA’s Road to Zero Report - an annual assessment of the UK’s progress towards zero-emission road transport.
