£110m investment in Manchester EV charging

Manchester-based electric vehicle (EV) public charging network Be.EV has secured £110m of private sector investment to boost the rollout of charging infrastructure across the region.

Octopus Energy Generation has agreed the investment, which will be its first in the UK’s EV sector, to help grow Be.EV’s 150-strong public charge point network, with Be.EV committed to adding 1,000 further charge points across the North of England and beyond by 2024.

“The backing from Octopus is transformational for us. We have sites lined up and underway that will form dense clusters of chargers that give people the confidence to go electric,” said Be.EV chief executive and co-founder, Asif Ghafoor.

“Our first foray into funding EV charging infrastructure is a significant milestone,” added Matt Setchell, co-head of Octopus Energy Generation’s fund management team.

Octopus already supplies all of Be.EV chargers with 100% green electricity, but this latest investment will allow for more chargers to be rolled out across the region.