Be.EV Partners with Schroders in £20 Million Deal to Expand Ultra-Rapid EV Charging Network

Image Credit: Be.EV

In an exciting development for both the electric vehicle (EV) industry and high-street retail, UK-based Be.EV has secured a £20 million partnership with Schroders Capital. The deal will see the installation of 200 ultra-rapid EV charging bays across 22 retail and leisure properties throughout the UK. These new charging hubs will provide drivers with an impressive 325-mile range in just 20 minutes, making long-distance travel and day-to-day commutes smoother.

Be.EV’s ambition is to become one of the UK’s fastest-growing charge point operators. With £110 million backing from Octopus Energy Generation’s Sky Fund, it’s well-positioned to lead the charge. Currently operating more than 800 charging bays, Be.EV plans to double that number by 2025, focusing on ultra-rapid hubs in high-traffic urban areas and community-centric locations.

This new partnership will allow Be.EV will fully fund and maintain the installation of high-speed Kempower chargers at major retail parks and leisure centres, featuring big names like IKEA, Marks & Spencer, Aldi, McDonald’s, and Costa Coffee. The charging bays will be secured under a 20-year lease agreement, with index-linked rents that ensure both Be.EV and landlords benefit from a long-term, reliable revenue stream. This setup also guarantees future-proof infrastructure, aligned with the UK’s net-zero goals.

With the UK’s electric vehicle market projected to grow by 31% in 2025, the demand for public charging stations is expected to surge. The Department for Transport has highlighted the urgency for public and private sectors to speed up infrastructure development to meet the UK’s 2030 internal combustion engine ban.

Be.EV stands apart in the crowded EV charging sector, where competitors like GRIDSERVE, InstaVolt, and Fastned expand rapidly. What sets Be.EV apart is its strategic focus on partnerships with real estate owners and public sector entities, creating a community-first approach. This emphasis on customer experience has earned Be.EV high praise from drivers, making it one of the top-rated large charging networks in the UK, according to user reviews on Zapmap.

“This is a landmark deal for Be.EV and we are excited to help the big brands who occupy the retail parks in Schroders’ portfolio benefit from the increased footfall benefits EV charging brings,” said Asif Ghafoor, CEO of Be. EV. “I would like to congratulate all the team at Be.EV for their hard work in securing this important deal.”

“Improving the UK electric charging network is essential in supporting the UK’s energy transition goals,” said Matthew Baddeley, Lead Asset Manager at Schroders Capital. “It also aligns with our own net-zero targets. Be.EV’s offering is highly compelling, and we look forward to welcoming them to Schroders Capital’s retail warehouse portfolio.”