UK charge point operator Believ plans to install at least 30,000 public electric vehicle (EV) charging points nationwide following a new funding agreement backed by its owners and a group of infrastructure-focused lenders.
The company, jointly owned by Liberty Global and Zouk Capital, will receive support from both parent companies as well as from Santander, ABN Amro, NatWest and MUFG. Zouk Capital also manages the UK governmentās Charging Infrastructure Investment Fund (CIIF), which, along with the Local Electric Vehicle Infrastructure (LEVI) fund, has contributed to the expansion of the countryās public charging network.
Believ said the new investment would focus primarily on deploying on-street chargers in residential areas, targeting EV users without access to private parking. The company also plans to build rapid and ultra-rapid charging hubs to enhance its broader infrastructure offering.
Believ offers three charging tiers: ‘Fast’ chargers at up to 22kW costing Ā£0.56 per kWh, ‘Rapid’ chargers at 50kW or more for Ā£0.66 per kWh, and ‘Ultra Rapid’ chargers at the same rate. Each charger supports dual sockets, with actual output dependent on usage.
Massimo Resta, Partner at Zouk Capital, said, āThe EV market is at an inflection point. EV penetration is expected to accelerate driven by the arrival of new mass-market vehicles at attractive price points. The EV charging rollout required to support the transition needs long-term private investment with strong partners.ā
āWith this level of funding, Believ has the commercial strength, operational expertise, and local insight to deliver what communities and landowners needāon-street, town-centre, destination, and on-route chargingāat real scale and pace,ā he added.
In April, Believ was awarded a LEVI contract by Suffolk County Council to deploy 6,000 charge points in the county. The company is also installing 22kW units at six residential car parks under Luton Councilās jurisdiction.