Legal & General has bought a 13% stake in electric vehicle (EV) charging point operator Pod Point.
The financial services company said EVs are vital to cleaning up the environment and decarbonising the UK’s transport systems.
There are 32 million cars on the road in the UK and currently, only 0.6% of these are plug-in electric cars.
Legal & General expects this figure to rise sharply over the next decade and wants to get on board with the transition to low carbon transport – estimates suggest that by 2030 there could be up to 11 million electric vehicles on the road.
Pod Point has already installed more than 60,000 charge points across the UK and Norway.
John Bromley, Head of Clean Energy for Legal & General’s Future Cities business, said: “With an increased number of electric vehicles expected on the road over the next 10 to 20 years, the availability of home, destination, workplace and public charging points will be vital to support this growth.
“Our investment in Pod Point provides clear synergies across Legal & General’s businesses, presenting opportunities to install Pod Point electric charging points across our real estate portfolio and in our new homes.”
Pod Point has recently partnered with a Scandinavian pizza chain.