- The Charging Infrastructure Investment Fund will
support businesses to build electric vehicle charge points
across the country and boost jobs in the industry.
- The move will make it easier for the public to own an
ultra-low emission car, helping to improve air quality and
protect the environment.
Bidding has opened today for the management of the
Government’s £400m Charging Infrastructure Investment Fund,
marking a significant milestone in the future roll out of
electric vehicles across the UK.
The fund will enable businesses to access the finances they
need to build more charging points, making it easier and
more viable for the public to make the switcher to cleaner,
ultra-low emission cars.
The bidding process follows the launch of the Road to Zero
Strategy which sets out the government’s long term
plan to have at least half of new cars be ultra-low
emission by 2030 and all new cars and vans be effectively
zero emissions by 2040.
The Exchequer Secretary to the Treasury, , said:
“We want the UK to be a world leader when it comes to the
number of electric cars on our roads. Uptake is increasing
and we want the opportunity to own an electric vehicle to
be available to all.
“But crucial to encouraging the take-up of these cars
across the country is increasing people’s access to
charging points. We want to scale up at pace and ensure
interoperability for ease of use.
“This fund is a vital step in our mission to change the way
we travel, create new jobs and protect our environment for
future generations.
“This builds on our ambitions set out in The Road to Zero
to encourage new homes to be built with charging-points.”
The Chancellor announced at Budget 2017 the new £400
million fund to increase the rollout of electric vehicle
charging points and catalyse the available financing
market. The fund is made up of £200 million of government
investment, which is to be matched by another £200 million
from the private sector.
The Request for
Proposals (RFP) published today sets out the
Treasury’s requirements and the necessary information for
fund managers to submit a bid. The successful fund manager
will be appointed to raise and manage this investment fund
on behalf of the Treasury.
