£400m to help develop rapid charging points for electric vehicles

The Treasury has launched a £400 million fund to increase Britain’s electric vehicle charging infrastructure, with the first £70 million allocated for 3,000 charge points – more than doubling the number across the UK to 5,000 by 2024.

Rapid charge points can recharge a car in 20 minutes, compared to existing technology which can take 40 minutes.

A review is currently underway to explore the provision of charge points across major road networks.

What's more, £31.5 million has been announced for research into pioneering technologies to remove greenhouse gases from the atmosphere, and £22 million to research new kinds of air pollutants and minimise their effects on public health.

The Charging Infrastructure Investment Fund will be managed and invested on a commercial basis by private sector partners, and government will invest up to £200m to be matched by private investors.

The fund is leveraging private investment to support the rollout of charge points for electric vehicles across the UK. The initial £70m investment has been provided by government and Masdar.