BP to inject £1bn into EV infrastructure amid calls to ease ‘charging anxiety’
BP has reportedly tabled plans to triple the number of charging ports for electric vehicles (EV), amid calls for greater investment into EV infrastructure.
The energy giant is aims to operations around 24,000 charging points in Britain by 2030, under a fresh £1bn investment plan due to be unveiled this week, the Financial Times first reported.
It follows BP reporting an underlying annual profit of $12.8bn last year due to soaring oil and gas prices.
The Society of Motor Manufacturers and Traders (SMMT) on Wednesday called on the government to improve the ratio of charging points to EVs, over so-called “charging anxiety”.
According to data from the industry body, the ratio between charging infrastructure and number of electric vehicles has worsened in the last year.
“Last year, it was about one for every 16 EVs on the road, this year it’s more likely to be one for every 32,” SMMT’s chief executive Mike Hawes told journalists during a press conference. “Things are getting worse because of that pace of market transition for EV sales.
“We need infrastructure to catch up.”
City PM has contacted BP for comment.