Bidding opens for management of UK electric vehicles charge fund

The bidding has opened today (23 July) for the management of the UK Government’s £400m Charging Infrastructure Investment Fund.

According to the Treasury Department, the fund will enable businesses to access the finances they need to build more charging points – which in turn will make it more viable for drivers to switch to electric vehicles.

The bidding process follows the launch of the Road to Zero Strategy which sets out the UK government’s plan to have at least half of new cars be ultra-low emission by 2030 and all new cars and vans be effectively zero emissions by 2040.

In a statement issued today, the Exchequer Secretary to the Treasury, Robert Jenrick, said: “We want the UK to be a world leader when it comes to the number of electric cars on our roads. Uptake is increasing and we want the opportunity to own an electric vehicle to be available to all.

“But crucial to encouraging the take-up of these cars across the country is increasing people’s access to charging points. We want to scale up at pace and ensure interoperability for ease of use.

“This fund is a vital step in our mission to change the way we travel, create new jobs and protect our environment for future generations.

“This builds on our ambitions set out in The Road to Zero to encourage new homes to be built with charging-points.”

The Chancellor of the Exchequer announced the £400m fund as part of his 2017 Budget. The fund is made up of £200m of government investment, which is to be matched by another £200m from the private sector.

The Request for Proposals (RFP) published today sets out the Treasury’s requirements and the necessary information for fund managers to submit a bid.