UK GOVT PUTS PLANS IN MOTION FOR £400M EV CHARGING INFRASTRUCTURE FUND

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The world is adopting the EV technology so fast and the UK Government is not left out. The UK Government has started to establish its Charging Infrastructure Investment Fund, with bidding now open for those wanting to manage the £400 million project, that is intended to support businesses building electric vehicle charge points across the country.

Available for businesses to access the finances they require to build more EV charge points, the fund has been created following the announcement of the Road to Zero strategy, and was announced as part of Budget 2017.

These proposals say out – in part at least – the government’s plans to have at least half of new cars sold by 2030 made up of ultra low emission vehicles, and all new cars and vans by 2040 zero-emission capable.

The Charging Infrastructure Investment Fund will help make it easier for buyers to pick electric vehicles, by assisting in the expanding the number of charge points in the UK. The Chancellor revealed in Budget 2017 that £200 million will be put forward by the government, with the remaining £200 million matched by the private sector.

The Exchequer Secretary to the Treasury, Robert Jenrick, said: “We want the UK to be a world leader when it comes to the number of electric cars on our roads. Uptake is increasing and we want the opportunity to own an electric vehicle to be available to all.

“But crucial to encouraging the take-up of these cars across the country is increasing people’s access to charging points. We want to scale up at pace and ensure interoperability for ease of use.

“This fund is a vital step in our mission to change the way we travel, create new jobs and protect our environment for future generations. This builds on our ambitions set out in The Road to Zero to encourage new homes to be built with charging-points.” This is in contrast with Nigeria and Africa where EV is still far from being adopted.

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