Believ has secured £300 million in funding to install at least 30,000 EV charge points across the UK.
The funding is led by the EV charge point operator’s joint owners Liberty Global and Zouk Capital, a private equity investor in EV charging, alongside four retail and infrastructure financing banks – Santander, ABN Amro, NatWest and MUFG.
Believ will partner with both public and private sector organisations to deliver the right chargers in the correct locations, and much of the investment will be dedicated to on-street, residential locations.
Significant funding will also be allocated to rapid and ultra-rapid charging hubs as well as rural, underserved locations.
Massimo Resta, Partner at Zouk Capital said, “The EV charging rollout required to support the transition needs long-term private investment with strong partners.
“With this level of funding, Believ has the commercial strength, operational expertise, and local insight to deliver what communities and landowners need – on-street, town-centre, destination, and on-route charging – at real scale and pace.
“We are very excited about the opportunity in front of us and are proud to support Believ as it helps build the infrastructure backbone of a net zero Britain.”
Guy Bartlett, Believ CEO, said the funding signifies a major commitment from private industry.
He added, “It recognises the scale of investment required and the urgency of the need.
“Confidence in EVs will continue to grow as drivers see more infrastructure going into the ground. At Believ, we are very proud to be at the heart of this journey.”
