The UK’s electric vehicle (EV) charging infrastructure is set to double in size this year, a newly launched trade body says.
Including the EV charging arms of Shell PLC (LSE:SHEL, NYSE:SHEL) and BP PLC (LSE:BP.), the 18 founding members of the ChargeUK body say they are planning to invest a combined total of at least £6bn in installing and operating new EV charging points and stations by 2030.
This comes just days after vehicle manufacturers noted that the rollout of public charge points for electric cars had gone into reverse, with growth in EV ownership outstripping the increase in the supply of public charging infrastructure needed for using a battery-powered car at longer ranges.
ChargeUK, whose other founding members include Pod Point Group Holdings PLC (LSE:PODP), Gridserve, char.gy, ESB and ionity, said in a statement that it will "work collaboratively with government and other stakeholders to break down barriers and shape the policies and regulation needed to enable transition".
Ian Johnston, chief executive of Osprey Charging Network and now also chair of ChargeUK, said the formation of the trade body is "a demonstration of the electric vehicle charging industry’s growing size and importance to the UK economy".
Transport decarbonisation and technology minister Jesse Norman said it "shows how industry working together, alongside the government, can release private investment, improve delivery, raise standards and promote the use of electric vehicle charging infrastructure for drivers across the country".
But the data from the Society of Motor Manufacturers and Traders (SMMT) earlier this week showed there was one standard public charger for every 36 electric cars on the road, down from 31 in 2021.