Lauded EV infrastucture fund yet to power up

DESPITE being announced in last year’s autumn statement, a £400m fund to finance improved electric car infrastructure has yet to be delivered. In a written answer to Parliament, junior treasury minister Robert Jenrick admitted the fund – which was set to be made up of £200m from the government and £200m in private investment – has not been mustered.

The first task, procuring a fund manager to raise that £200m, is expected to start in summer 2018. Jenrick said: “Following the announcement of this fund at Autumn Budget, the government is engaging with the private sector to ensure that it is set up in the most effective way.

“We expect to launch the procurement for the private sector fund manager in summer 2018, who will be tasked with raising the £200m of private investment.” Andy McDonald, shadow transport secretary, who asked the initial question, criticised the government’s response, writing: “The government’s electric cars policy has run out of power before it’s even left the driveway. It has been revealed that they have failed to secure a penny of the £200m of private investment announced in last year’s budget.”

The proposal was met with support when it was announced in the budget. Electric car charging provider Chargemaster, said: “The package of support announced by the Chancellor in the Budget is good news for the EV sector.”

The Society of Motor Manufacturers and Traders called it “a positive step to boost buyer confidence”, as buyers often cite lack of infrastructure as a reason for not investing in an electric vehicle.