Oil giant Shell has today unveiled plans to install 50,000 electric vehicle charge points on the UK’s streets by 2025 through its Ubitricity subsidiary.
The FTSE 100 firm said that it would support local authorities in paying for the installation with special financing terms meaning that some will not have to pay.
As the government currently covers 75 per cent of the cost of installing on-street chargers, Shell has said it will cover the remainder.
At the moment, there are 3,600 Ubitricity chargers on UK roads, 14 per cent of current market share.
By the middle of the decade, it is estimated that the country will need 150,000 chargers in total.
A range of groups, from trade bodies to the UK’s competition watchdog, have warned ministers that failure to roll out enough charging infrastructure could imperil the government’s attempts to end the sale of diesel and petrol cars in 2030.
They have also warned of a potential “postcode lottery” facing EV drivers who live in rural areas or less well-connected parts of the country.
“It’s vital to speed up the pace of EV charger installation across the UK and this aim and financing offer is designed to help achieve that,” said David Bunch, Shell’s UK country chair.
“Whether at home, at work or on-the-go, we want to give drivers across the UK accessible EV charging options, so that more drivers can switch to electric.”
Transport Minister Rachel Maclean added: “Together with industry and local authorities, we can create cleaner, greener local communities – providing EV chargepoints for people without off-street parking across the country.
“As more and more people make the switch to electric, this is a great example of how private investment is being used alongside Government support to ensure that our EV infrastructure is fit for the future. This is crucial as we build back greener and accelerate towards COP26.”