Believ Raises £300M for 30,000 EV Chargers in UK Retail

Key Takeaways

1. Believ is investing £300 million to install 30,000 public EV chargers across the UK.
2. The company is focusing on retail and hospitality venues to enhance convenience for EV users.
3. Businesses can benefit financially from having EV chargers, as they attract customers and encourage longer stays.
4. The funding for the initiative involves multiple partners, including Liberty Global and Santander.
5. The UK government is supporting EV infrastructure with a £2.3 billion pledge, including £600 million for public charging improvements.

UK company Believ is set to enhance the availability of public EV charging with a significant £300 million investment. This financial boost will fund the installation of 30,000 chargers across various public locations throughout the country.

Targeting Key Locations

Believ identifies retail and hospitality venues as the main focus for these installations, enabling customers to “refuel” their electric vehicles while they engage in daily activities. The company asserts that the increased number of chargers will motivate more drivers to adopt vehicles with zero tailpipe emissions.

Financial Benefits for Businesses

In addition to easing concerns about range and charging, having EV chargers can prove advantageous for businesses financially. Research indicates that customers prefer destination chargers that offer faster charging than their home units. This preference often results in longer stays, increasing the chances of customers spending more at those locations.

The funding for this initiative comes from a variety of sources, including Liberty Global, Zouk Capital, Santander, ABN Amro, NatWest, and MUFG.

CEO’s Perspective

Guy Bartlett, the CEO of Believ, commented on the funding, stating, “This highlights the level of investment needed and the urgent demand. As drivers observe more infrastructure being developed, confidence in EVs will undoubtedly rise. We take great pride in being central to this progress.”

EV owners can look forward to positive developments as the UK government has pledged £2.3 billion to promote EV usage, with around £600 million specifically allocated for enhancing public charging infrastructure.

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