UK Government announced this week more than half a billion pounds of new investment in green technologies. As part of the investment, the UK government will set up a £400-million fund to help develop rapid charging infrastructure points for electric vehicles.
The first £70 million is allocated for 3,000 charge points—more than doubling the number across the UK to 5,000.
Rapid charge points can recharge a family car in as little as 20 minutes, compared to existing technology which can take 40 minutes- making the reality of driving electric vehicles easier and more accessible for people across the country. The UK already has one of the largest electric vehicle charging networks in Europe, and this investment will help make that the fastest by installing state-of-the-art technology.
A review is currently underway to explore the provision of charge points across major road networks, meaning drivers could charge their car whilst stopping for a coffee at a service station. This investment complements £1.5 billion support to boost the uptake of electric vehicles and make cleaner vehicles more accessible to everyone. This is part of the Government’s ambition to end the sale of petrol and diesel vehicles by 2040.
Also being announced is £31.5 million for research into pioneering technologies to remove greenhouse gases from the atmosphere, and £22 million to research new kinds of air pollutants and minimise their effects on public health.
The Charging Infrastructure Investment Fund will be managed and invested on a commercial basis by private sector partners, and government will invest up to £200m to be matched by private investors.
The fund is leveraging private investment to support the rollout of charge points for electric vehicles across the UK. The initial £70m investment has been provided by government and Masdar.