The future is electric: How adopting EVs is good business

March 31, 2023

Tom Bloor from evec looks to the future of EV infrastructure, analysing how EV adoption can further UK business for the better

The electric vehicle (EV) industry is growing exponentially. In 2022, 265,000 battery-electric cars were registered, which is an increase of 40% YoY. EVs are being adopted across the nation due to their cost-saving rechargeable batteries, which average at 11p per mile, compared to 21p per mile for a petrol car. Businesses can increase their revenue with charge points and support the decarbonising of UK EV infrastructure.

UK EV Adoption & Goals

With over a third of UK homeowners lacking a driveway or garage, publicly accessible chargers at workplaces or other locations are essential for EV adoption. London has the highest EV adoption rate with 131 chargers per 100,000 residents, while the North West has only 31 chargers per 100,000. Even with London’s higher uptake, it’s still estimated that 9,391 charge points will have to be installed every quarter for the UK to meet their 2030 EV target.

Stephen Johnson, CEO at evec comments: “ As a Manchester-based business, it’s particularly concerning to see that the North West has been slower to adopt EVs. Our mission is to remove the barriers that prevent EV adoption. I’m confident that our affordable charger proposition, combined with government support, should see the tide start to turn in 2023.”

EV Infrastructure Grant

To support adoption, the UK Government have created the EV Infrastructure Grant for small-to-medium-sized business. This grant will help businesses to provide employees with a charging point by covering up to 75% of the cost of having the infrastructure installed.

The Office for Zero Emission Vehicles (OZEV) has provided the EV Infrastructure Grant to support small-to-medium-sized businesses with no more than 249 employees.

For businesses undergoing renovation or planning to develop a new building, new rules have been put in place to guarantee charging points are installed:

New non-residential buildings with over 10 parking spaces are required to install at least one EV charge point and cable route for 20% of the total number of spaces.

Here is a breakdown of the EV Infrastructure Grant:

The maximum amount of the grant is £15,000.

You can get up to:

£350 per charge point socket.
£500 per parking space enabled with supporting infrastructure.

This saving means that businesses could purchase chargers, like these from evec, from as little as £129.99 per charger.

Increase Your Revenue with EV Charging

EV charging can boost profits by generating revenue from the charging stations themselves. Businesses can charge for using the chargers.

For example, if you were to charge someone £0.20 p/kWh, your business would make: £0.20/kWh x 55-kWh x 20 working days = £220.00 p/car for a fully charged 55kW Tesla.

evec and Monta have partnered to make this possible. The Monta platform allows EV charger owners to monetise their charge points by sharing them with the EV community. Both residential and commercial owners will be able to adjust the availability, cost, and access, guaranteeing an entirely flexible solution for all charge point owners.

evec’s Commercial Chargers

evec’s Commercial EV chargers are designed to charge EVs quickly in commercial settings. With the EV infrastructure grant in place, businesses save more when coupling the grant with a low-cost charger, such as evec’s pedestal charger.

Please Note: This is a Commercial Profile