Electric vehicles (EVs) are becoming mainstream, creating a soaring demand for charging networks across the UK. Among various operators, Be.EV has recently drawn attention by announcing a strategic partnership with Schroders Capital. With a steadfast goal to expand their infrastructure, Be.EV aims to address the urgent need for public charging facilities, catering to growing EV adoption in urban areas and community spaces.
Electric vehicle charging infrastructure has been rapidly evolving, as several companies across the globe invest in expanding their networks. Notably, Be.EV has emerged with a distinct approach by forming partnerships rather than competing solely on geographical coverage. In comparison, similar deals reveal an industry push for integrating charging solutions at multiple convenient locations, a pattern consistent in recent years.
What does the partnership entail?
Be.EV’s partnership with Schroders Capital involves a significant investment of £20 million towards the installation of 200 ultra-rapid charging bays. These will be strategically placed in 22 properties managed by Schroders Capital, including prominent retail entities like IKEA and McDonald’s. By undertaking the installation and maintenance, Be.EV is enhancing its scope while providing landlords with reliable, long-term investments.
How will this impact the UK market for EVs?
The UK’s EV market is anticipated to expand by 31 percent by 2025, underscoring the pressing need for robust infrastructure. Amid this growth, Be.EV offers a customer-focused solution that prioritizes partnerships with property and public sector stakeholders. By focusing on ultra-rapid hubs, Be.EV is positioned to become a vital component in the national drive for green energy solutions.
While other EV infrastructure providers like GRIDSERVE and Fastned are also expanding, Be.EV’s strategy is distinctive for its emphasis on community and partnerships. Feedback from Zapmap site users ranks Be.EV highly, suggesting that this reputation could bolster their ongoing growth. Aligning with the UK’s energy transition objectives, this approach involves not just technological expansion but also enhancing the overall EV driving experience.
CEO of Be.EV, Asif Ghafoor, highlighted the significance of the partnership, emphasizing its allocation of increased footfall benefits to retail park brands. As his statement suggests, providing EV charging options could lead to economic advantages for retailers involved.
“This is a landmark deal for Be.EV and we are excited to help the big brands who occupy the retail parks in Schroders’ portfolio benefit from the increased footfall benefits EV charging brings,” said Asif Ghafoor.
The widespread availability of charging stations facilitated by such partnerships supports broader environmental goals. Matthew Baddeley, Lead Asset Manager at Schroders Capital, also recognized the importance of this project for aligning business strategies with sustainability targets.
“Improving the UK electric charging network is essential in supporting the UK’s energy transition goals,” said Matthew Baddeley.
As the EV sector develops, partnerships like that of Be.EV and Schroders Capital represent a significant step in creating an interconnected network of electric vehicle infrastructure. Beyond merely addressing logistical considerations, the initiative may act as a catalyst for new collaborations in the industry. Such coordinated efforts could be instrumental in meeting the UK’s imminent emissions targets by 2030.
