Electric Vehicles: Charging Points

(asked on 17th December 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what investments the UK Charging Infrastructure Investment Fund, managed by Zouk Capital, has made to date; in which companies those investments were made; and the amount of each investment.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 11th January 2021

The CIIF was launched in August 2019, and Zouk Capital LLP was appointed to manage £200m of Treasury funds and raise matching funds from private investors. The aim of the CIIF is to accelerate the roll-out of publicly accessible charging infrastructure by investing in new and existing companies and projects that produce and install charge points; this is so that charging infrastructure is not an impediment to the growth of the electric vehicle market in the UK.

The fund's first investment in August 2019 was into InstaVolt, the UK’s largest owner and operator of rapid EV charging stations with plans to nationally bolster rapid charge points to a total of 5,000. The second investment in May 2020 focuses on providing on-street charging facilities in large cities and towns where many residents have no access to off-street parking; Liberty Charge, a joint venture between multinational telecommunications company Liberty Global and Zouk Capital, will roll out on-street residential electric vehicle charging points in the UK to address this shortage.

The investment amounts are commercially sensitive and therefore confidential.

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