Chancellor Rachel Reeves has announced £65m of investment in Connected Kerb, an electric car charging firm.
Revealed as part of her growth speech today (Wednesday, January 29), the investment will allow Connected Curb to extend its current electric car charging network.
It is believed that the injection of funds comes from the Government’s National Wealth Fund (NWF), which will take up an equity stake in Connected Kerb alongside an additional £10m from Aviva Investors. In total, £65m will be invested in Connected Kerb.
🚨 Breaking News! 🚨 @ConnectedKerb has just been acknowledged by Chancellor of the Exchequer, Rachel Reeves in her recent speech, announcing Connected Kerb's whopping £65m investment from @NatWealthFund & @avivainvestors to expand the UK’s public EV charging network to 40,000… pic.twitter.com/5us7XEz1r9
— Connected Kerb (@ConnectedKerb) January 29, 2025
The charging specialist firm aims to improve the accessibility and availability of chargers to those who aren’t able to top-up their electric vehicles at home. Its range of chargers are situated in areas such as supermarkets and residential streets and, to date, it has installed some 10,000 chargers across the UK.
The news has been welcomed by the car industry, with Adam Wood, Renault UK managing director stating: “Investment in on-street charging infrastructure is especially welcome, both for addressing a critical requirement to give people without a driveway an easy, affordable way to charge an electric car, and for signalling a firm Government commitment to making the transition to electric vehicles happen to the timescales it has set with its mandate.
“Today’s announcement gives confidence that legislators are ready to back their ambition with investment.”
