Fresh investment into the UK’s charging network is set to deliver thousands more on-street chargers in a boost to EV drivers.

The investment will back Connected Kerb’s plans to expand its UK on-street charging network towards 40,000 sockets

In a major speech on growth plans, Chancellor Rachel Reeves announced that the newly launched National Wealth Fund (NWF) has committed a £55m ordinary equity investment into on-street electric vehicle charging specialist Connected Kerb.

The investment, accompanied by a further £10m ordinary equity investment from Aviva Investors, will back plans for the electric vehicle smart charging infrastructure company to expand its UK EV charging network towards 40,000 sockets – up from 9,000 as of the end of 2024.

The UK’s public charging infrastructure is one of the NWF’s priority sectors and the investment is seen as crucial for delivering the government target of at least 300,000 public EV chargers by 2030.

NWF is also investing £28m in Cornish Metals to provide the raw materials to be used in solar panels, wind turbines and electric vehicles, supporting growth and jobs in the south west of England.

Chris Pateman-Jones, CEO of Connected Kerb, said: “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.”

A report from the National Audit Office (NAO) at the end of 2024 found that public EV charge point installations in the UK are on track for the Government’s 2030 target of 300,000 chargers but challenges remain, including on-street charging provision.

Millions of UK drivers without access to driveways are reliant on an effective public charging network. According to estimates, about 40-50% of drivers can’t install a car charger at home, but the Association of Fleet Professionals (AFP) has said the figure is likely nearer to 7o% when it comes to light commercial vehicle drivers.

Vauxhall – which is running its own Electric Street initiative to boost on-street charging – greeted the news and said support for kerbside charging is critical to ensure nobody is left behind on the UK’s electrification journey.

James Taylor, managing director at Vauxhall, said: “2024 saw a 21% growth in electric car uptake, and whilst the number of overall public charge points is increasing substantially – some 38% up last year – the vast majority of the UK’s on-street residential chargers are currently located in the capital.”

He added: “We need to ensure that these new on-street chargers, which are key to enabling those without a driveway to charge their EV, get installed in the right towns and streets where they will get used – our Electric Streets campaign sets out precisely to help with that.”

Vauxhall launched Electric Streets in 2023 to support the acceleration of the UK’s on-street charging network, working with leading charge point operators including Connected Kerb to help councils identify and install charging across streets that need it most.

Vauxhall invites drivers to register their on-street charging needs on one national portal and then that data is passed to councils for them to know where residents actually want to see them installed in their area. So far over 12,000 streets across the country have been logged as needing on-street charging through electricstreets.co.uk.

Industry reaction

Sam Rawson, enterprise director at EV charging platform Monta, said the Chancellor’s announcement was an “overdue but strong signal from the new administration that will hopefully start to rebuild confidence in businesses that want to invest in the UK”.

Rawson said the UK has made significant progress in recent years with over 73,000 chargers available on the existing public network. However, the difference in per capita availability compared to other countries such as Norway – which has embraced the transition to electric power and has 447 chargers per 100,000 people versus just 89 in the UK – is a stark reminder that the UK is still lagging behind.

He added: “For charge point operators, the cost of infrastructure development remains a challenge. Rapid deployment of fast-charging stations, particularly in rural and less densely populated areas, requires investment and innovative solutions – not just from the Government, but from the business community too. Collaboration across the entire EV ecosystem – government, manufacturers, energy providers and CPOs – is essential if these costs are to be addressed.

“Private–public partnerships and coordinated efforts will be the key to creating a charging network that serves the needs of millions of future EV drivers in the UK.

“Ultimately, we need to ensure that EV ownership and charging become more convenient, affordable and attractive than ICE vehicle refuelling. Norway’s journey to becoming a global EV leader was no overnight success; it was a long-term, well-executed plan – a blueprint the UK can and should emulate.”

Vicky Read, CEO of ChargeUK, said: “ChargeUK members are supporting economic growth by rolling out charging infrastructure at an incredible pace. A new public charge point goes into the ground every 25 minutes on average.

“We welcome the Chancellor recognising the important role of our sector in driving growth in her speech.

“Our members are committed to investing £6 billion in the UK up to 2030 to ensure we remain on track to deliver infrastructure ahead of demand, enabling the UK to switch to EVs.

“To secure this funding, and ensure it has maximum impact on the UK’s growth agenda and clear energy ambitions, we need to see existing EV sales quotas confirmed, barriers to charge point deployment, such as slow grid connections, addressed, and steps taken to ensure drivers can charge affordably, including equalising VAT on home and public charging.”

Vicky Edmonds, CEO of EVA England, said: “An additional £65m for on-street charging 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. 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.”