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Charging Investment Infrastructure Fund hits brick wall

2 May 2018

 

 

The electric vehicle revolution seems to have hit a brick wall as the £400 million Charging Investment Infrastructure Fund stalls six months after it was first unveiled.

 

The scheme, which was announced late last year, is intended to support the evolution of the UK’s motor industry from petrol and diesel powered vehicles to ultra low emission vehicles.

 

£200 million of investment was ring-fenced by the Govetnment, with a further £200 million funded by private investors. An additional £100 million was also pledged by the Government to help support plug-in technology.

 

However it has emerged that a private sector fund manager may not be appointed until at least the summer. This delay has been compounded by the fact that despite the announcement of the scheme being made nearly six months ago, work is already behind schedule.

 

This delay could potentially put serious pressure on the limited network of charging points in the UK as diesel vehicle sales start to decline and electric vehicle sales increase. This, in tandem with the proliferation of Low Emission Vehicle Zones could also cause problems for transport based industries as they struggle to comply with new regulations.

 

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