By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Electric vehicle charging crisis is overdone
News

Electric vehicle charging crisis is overdone

News Room
Last updated: 2024/01/14 at 2:30 AM
By News Room
Share
3 Min Read
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

The debate about electric vehicles in the UK comes laced with scare stories about hidden costs, suspect environmental credentials, battery lifetime, combustibility and the lack of charging points.

The latter is off-putting for motorists considering making the switch. But the concerns, like most others, are exaggerated.

Carmakers want a rapid increase in public charging facilities to help meet new green targets. Telecoms group BT has declared plans to convert roadside cabinets — traditionally used for cables — into EV chargers.

In total, the UK has nearly 54,000 public charging points compared with 1mn fully electric vehicles, a ratio of just over 18:1. But charging app Zapmap estimates there are also more than 680,000 domestic and work charging points, the locations at which most drivers top up their batteries.

The UK actually ranks mid-table in a group of 10 large economies when comparing the ratio of plug-in vehicles on the road, including hybrids, to standard chargers.

Ratios are imperfect, however, given EVs are a relatively new technology, says Ralph Palmer of campaign group Transport & Environment: it is not yet clear what an EV-dominated UK market would need. These measures also mask the impact of charger speeds. An ultrafast charger at a forecourt would serve more cars in a day than a slow kerbside alternative.  

UK ministers are aiming for 300,000 public chargers by 2030. Rollout rates are improving. Last year, more than 16,600 points were added, says Zapmap, a year-on-year increase of 45 per cent. If annual additions increased at the same percentage rate, the 300,000 ambition would be surpassed by the end of 2028. 

Higher numbers are harder to sustain as markets become more saturated. But there are reasons for optimism. BT is not the only company with ambitions in this area: the oil majors are also rolling out chargers, particularly at forecourts.

Shell is committing $500mn a year in capital expenditure in 2024-25 to expand its EV charging footprint globally, including the UK. Privately owned Osprey, which installed 400 public chargers in the UK between 2018 and the end of 2022, raised its annual rate to 600 in 2023. 

The private sector has largely financed the rollout so far. Ministers have, though, agreed a £450mn fund that will allow local authorities to subsidise charging points in underserved areas. Importantly, the “Levi” fund will provide support for local authorities that do not have the resources to draw up charging plans.

Public charging needs to expand to support the EV market. But the cost of EVs, not insufficient charging infrastructure, is the real barrier to adoption.

Read the full article here

News Room January 14, 2024 January 14, 2024
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Bitcoin falls below $86K, Gold and silver rise on Fed rate cut optimism, Fed rate hopes and markets

Watch full video on YouTube

Why Lowe’s Is Betting On New Generations Of Shoppers

Watch full video on YouTube

US stocks and crypto are in the red to start December, the biggest stock surprises of 2025

Watch full video on YouTube

Why Major U.S. Allies Are Not Signing Up For Trump’s ‘Board Of Peace’

Watch full video on YouTube

Gold slides as rally loses steam

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

News

Gold slides as rally loses steam

By News Room
News

Golden Buying Opportunities: Deeply Undervalued With Potential Upside Catalysts

By News Room
News

NewtekOne, Inc. (NEWT) Q4 2025 Earnings Call Transcript

By News Room
News

Tesla lurches into the Musk robotics era

By News Room
News

Keir Starmer meets Xi Jinping in bid to revive strained UK-China ties

By News Room
News

Canadian Pacific Kansas City Limited (CP:CA) Q4 2025 Earnings Call Transcript

By News Room
News

SpaceX weighs June IPO timed to planetary alignment and Elon Musk’s birthday

By News Room
News

Japan’s discount election: why ‘dirt cheap’ shoppers became the key voters

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?