UK electric vehicle supercharging firm to expand to US, Asia

A UK company Gridserve Holdings Ltd that builds solar and battery farms to power its electric vehicle chargers already has a network of fast-charging hubs in Britain and now is planning to expand further.
By : Bloomberg
| Updated on: 08 Nov 2021, 13:04 PM
File photo of electric vehicles charging used for representational purpose only. (REUTERS)
File photo of electric vehicles charging used for representational purpose only. (REUTERS)
File photo of electric vehicles charging used for representational purpose only. (REUTERS)
File photo of electric vehicles charging used for representational purpose only.

A UK company is in discussions with fuel forecourt operators in Europe, Asia and the U.S. to install vehicle-charging facilities that use electricity generated from renewable sources. 

Gridserve Holdings Ltd. is already building a network of fast-charging hubs in Britain and now is planning to expand further afield. The initial international projects will be announced within the next few months, said Toddington Harper, founder and chief executive officer.

(Also read | EV charging shifts gears from range to speed)

The company builds solar and battery farms to power its electric vehicle chargers and plans to create more than 100 all-electric forecourts in the U.K. as part of a billion-pound ($1.35b) investment program. The company’s backers include Richard Branson’s The Rise Fund and Hitachi Capital U.K. Plc. 

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There are about 12 million passenger EVs on the road globally, according to BloombergNEF. With governments under pressure to reduce emissions and with battery prices falling, annual EV sales are expected to increase from 3.1 million units in 2020 to 14 million in 2025. The leading markets include China and Europe, according to BNEF.

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(Also read | One in every three new vehicles registered in Germany in October was an EV)

“Everything we have achieved in the U.K. has required us to overcome massive complexities and challenges -- experience we’ve spent years developing," Harper said. “It’s now time to share those learnings with partners across the world and accelerate the shift to net zero transport."

 

First Published Date: 08 Nov 2021, 13:04 PM IST
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