£65m boost for on-street electric vehicle charging

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

In a major speech on economic growth, 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. 

“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”

However, while welcoming the investment as a postive step, Asif Ghafoor, CEO of national charging network BeEV, said: “It’s crucial we ensure it’s part of a larger vision – one that offers drivers a range of charging options, not just a one-size-fits-all approach.

“All charge point operators are committed to equity of access, and this investment must reflect that by prioritising solutions for drivers without home charging. These drivers face significant barriers, and we cannot afford to overlook them as the infrastructure expands.”

He explained: “While kerbside charging is one part of the solution, we need to think beyond this. Drivers want different charging types and speeds for different needs.

“We need to ensure this investment supports a mix of solutions – from ultra-rapid hubs to convenient on-the-go charging points – so that every driver has reliable options, no matter where they live.”

Ghafoor argues that the Government must address “regulatory gaps”. For example, he said: “Kerbside chargers are excluded from contactless payment and have looser uptime requirements, leaving drivers with unreliable options.

“To build a truly world-class network, we need to ensure these chargers meet the same high standards as other infrastructure.

“We need to make charging reliable for everyone and fix the reputation of chargers as being faulty – this will only happen if we stop putting bad chargers in the ground.”

Reeves also announced a £28m pound equity investment in Cornish Metals to provide the raw materials to be used in solar panels, wind turbines and EVs, saying that “there is no trade-off between economic growth and net zero”.

John Flint, National Wealth Fund CEO, explained that to get to net zero it needs 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,” he said.

“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.”

Vauxhall's MD, James Taylor, welcomed the new funding. “Support for kerbside charging is critical to ensure nobody is left behind on the UK’s electrification journey, with millions of drivers without access to driveways reliant on an effective public charging network,” he said. 

“Today’s announcement from the Chancellor that the Government will provide extra funding for kerbside chargepoints is a welcome boost to the UK’s electric vehicle charging network at a pivotal time.”

The Connected Kerb investment comes as a report in the Financial Times suggest that the UK Government is also in discussions to deliver low or even interest-free loans to assist EV sales. 

The Government could underwrite the loans, reducing the costs of monthly repayments for drivers, and therefore also lowering the overall cost of an EV purchase.

Read more from Fleet News about Connected Kerb and its public EV smart charging business.