The government of the UK plans to invest over £500 million (about $626.4 million) in green technologies, including £400 million to develop rapid charging points across the country. The initial investment of £70 million will be used to create 3,000 rapid charge points by 2024. The UK currently has around 2,000 rapid charge points.
The Charging Infrastructure Investment Fund fund is part of the UK government’s aim to end the sale of gas and diesel vehicles by 2040 and reach net zero emissions by 2050.
“It’s fantastic there is already a rapid charge point at almost every motorway service station, and now more charging stations than petrol stations. But I want to see thousands more charge points installed across the UK,” said Transport Secretary Grant Shapps. “This fund will help drum up further investment in charging infrastructure from the private sector, so charging an electric car becomes as easy as plugging in a smart phone.”
“Britain already boasts one of the biggest networks of charging infrastructure in Europe, and soon we will have the fastest, thanks to this investment,” said Exchequer Secretary Simon Clarke. “This is the latest in our proud record on climate change – having slashed emissions by over 40 percent since 1990, whilst simultaneously growing our economy, and setting an ambitious target for net zero emissions by 2050.”
“Charging infrastructure will be a crucial part of our journey to Net Zero 2050 and will require substantial investment from the private sector,” said Matthew Vickerstaff, Deputy Chief Executive of the Infrastructure and Projects Authority. “The launch of the Charging Infrastructure Investment Fund today will help accelerate the building of charging points by increasing access to private finance for companies delivering them.”