The investment builds on the successful launch of the UK's first electric forecourt last year in Braintree, Essex
Financial giant Hitachi Capital yesterday announced a £10m investment in UK electric vehicle (EV) charging network developer GRIDSERVE, a deal that extends the two firm's cooperation following the recent successful launch of the UK's first electric forecourt.
The partnership will work to install the infrastructure needed to accelerate EV uptake in the UK, the firms said, with GRIDSERVE planning to build more than 100 electric forecourts across the country over the next five years.
The partnership also encompasses the UK's first net zero EV leasing business, which is designed to bring the cost of driving EVs down below petrol and diesel cars, the firms said.
"Our collaboration with GRIDSERVE to deliver sustainable energy marks a breakthrough in delivering the world class infrastructure the UK needs in order to accelerate electric mobility," said Hitachi CEO Robert Gordon.
"Combining our financial strength and motor industry expertise with GRIDSERVE's leading renewable energy work is a perfect partnership to create a new revolutionary green energy future. Our intention is to become a market leader for EV adoption and today's announcement, along with our commitment that 20 per cent of our assets will support sustainable business projects over the next five years, shows our determination to deliver on that promise."
Over the course of 2020, Hitachi Capital UK invested more than £24m in GRIDSERVE projects. A flagship initiative saw GRIDSERVE open the country's first Electric Forecourt in Braintree, Essex, capable of charging 36 EVs simultaneously.
"Delivering the UK's first Electric Forecourt with net zero carbon energy provided by Clayhill Solar Farm, as well as launching the UK's first net zero leasing business, is testament to the results and benefits we can deliver through our partnership, and we look forward to delivering many more Electric Forecourts and sustainable energy projects together in the months and years ahead," said GRIDSERVE CEO Toddington Harper.