UK businesses to ‘invest £15.8bn in EVs over the next 12 months’

A new report estimates UK firms spent a total of £10.5 billion on EVs and charging infrastructure last year

The Big Zero report

Businesses plan to spend an estimated £15.8 billion in electric vehicles (EVs) and charging infrastructure in the next 12 months.

A new report by Centrica Business Solutions says the projected investment is more than a 50% increase from last year’s total of £10.5 billion that was invested in EV technology by UK firms.

The research, which polled 200 businesses, suggests nearly 40% of those surveyed said they had boosted their EV fleet between April 2020 and March 2021.

Of these businesses, almost six-in-ten cited the need to meet corporate sustainability targets as the biggest driver for the upgrade of their vehicles.

The second biggest factor to influence their decision to invest was the disruption caused by low and zero emission driving zones.

Almost 51% said this factor motivated the move to EVs

Greg McKenna, Managing Director at Centrica Business Solutions, said: “The fact that firms are planning to increase their spending so dramatically over the next 12 months is proof that more businesses are recognising the advantages of ad0pting low emission vehicles.”

If you enjoyed this story you can sign up to our weekly email for Energy Live News – and if you’re interested in hearing more about the journey to net zero by 2050, you can also sign up to the future Net Zero newsletter. 

Latest Podcast