Businesses ‘Plan to Invest £13.6BN in Electrifying Their Fleets’

Image: Centrica

Businesses across the UK plan to supercharge their fleets with a £13.6 billion investment in thousands of new electric vehicles (EVs).

According to a new study by Centrica Business Solutions, UK businesses are set to adopt more than 163,000 EVs this year as part of a major investment in fleet electrification.

The research suggests nearly 35% more businesses will operate EVs on the road by the end of 2022, compared to the 121,000 registered by firms last year.

The majority of fleet operating businesses, 62%, said they expect to operate a 100% electric fleet within the next four years.

However, despite the record levels of planned investment, almost two-thirds of businesses are worried about accessing public charging points.

To overcome the charging challenge, almost 48% of firms have installed EV chargers at their premises, with more than a third planning to invest in on-site charging infrastructure in the next 12 months.

Greg McKenna, Managing Director of Centrica Business Solutions, said: “Businesses will continue to play a vital role in achieving the UK’s green transport ambitions, but with a record number of EVs expected to enter the UK this year, we must ensure the supply of vehicles and wider charging infrastructure is robust enough to meet the demand.

“Combining energy technology such as solar panels and battery storage into the wider charging infrastructure will help harness renewables and reduce the demand on the grid during peak charging times.”