A previously little-known chargepoint provider called Believ has secured £300m of private funding to install public chargepoints across the UK.
The financial injection makes the firm “one of the UK’s best-backed chargepoint operators”, and the investors comprise Liberty Group and Zouk Capital, plus Santander, ABN Amro, Natwest and MUFG.
Believ has worked with a number of UK councils over the past three years in its mission to install public chargepoints, with the firm pledging that all its points charge vehicles using 100% renewable electricity. The company says it will continue working with local authorities, and also partner with private firms.
The firm says it believes “sustainable transport should be accessible to everyone”, and promises its chargers are “fairly priced and offer users great value”.
Believ’s current rates for ultra-rapid chargers are 66p per kWh for non-members and 60p for members, who pay a £5 monthly subscription.
Those prices compare favourably with Instavolt, which has a flat rate of 87p per kWh; Osprey, which charges 82p; and BP Pulse, which charges 87p for non-members and 69p for members, who pay £7.85 a month.
The UK has a target of 300,000 public chargers by 2030, with only 80,000 operational at present.
Announcing the investment, Guy Bartlett, Believ’s chief executive, said the landmark funding “recognises the scale of investment required and the urgency of the need”, adding that “confidence in EVs will continue to grow as drivers see more infrastructure going into the ground”.
