Believ secures £300 million to install 30,000 EV chargers across UK retail and hospitality
UK company Believ will expand access to public EV charging, thanks to a £300 million cash injection. The funds will be used to install 30,000 chargers at public facilities nationwide.
According to Believ, retail and hospitality facilities are the prime targets, as they allow customers to “refuel” their EVs while continuing with their everyday activities. It claims the increased charger availability will encourage more drivers to embrace zero-tailpipe emission mobility.
Apart from alleviating range and charging anxieties, hosting EV chargers can be financially beneficial for businesses. Studies have shown that customers are attracted to destination chargers that are faster than their home chargers. This leads to increased dwelling times, which makes them more likely to spend money at the location.
The funding is supported by Liberty Global, Zouk Capital, Santander, ABN Amro, NatWest, and MUFG.
Guy Bartlett, Believ CEO, talks about the funding, “This 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. We are very proud to be at the heart of this journey.”
EV owners are in for a good time as the UK government has committed £2.3 billion to drive EV adoption. About £600 million is dedicated to improving public charging infrastructure.
