Believ Lands £300 Million Funding to Deploy Over 30,000 Public EV Charging Stations

Believ, a key player in the UK’s electric vehicle (EV) charging landscape, has just secured a hefty £300 million investment facility aimed at installing no fewer than 30,000 new charge points across the country. This move significantly increases public access to electric vehicle (EV) charging, a crucial step in accelerating the transition to cleaner transportation.

The funding round is led by Believ’s joint owners, Liberty Global and Zouk Capital, the latter being Europe’s leading private equity investor in electric vehicle (EV) charging. Alongside them stand four central retail and infrastructure banks: Santander, ABN Amro, NatWest, and MUFG. Together, they’ve positioned Believ as one of the UK’s most well-funded charge point operators.

This fresh capital injection is pivotal. The UK government has set an ambitious goal of 300,000 public charge points by 2030; however, drivers currently have access to only around 80,000. Believ’s expanded network will help bridge that gap, making electric vehicles a more viable option for everyday drivers.

What sets this investment apart is its focus on long-term reliability and financial sustainability, two factors crucial for the successful rollout of EV infrastructure. The £300 million facility not only solidifies Believ’s status as a commercially robust business but also boosts confidence among existing and future partners, from local authorities to private enterprises.

Believ plans to collaborate closely with both the public and private sectors to deploy the right charging solutions in optimal locations. This partnership model demonstrates how private investment can effectively complement local government efforts, ultimately enhancing public transportation infrastructure. The broader impact? Encouraging EV adoption nationwide, improving air quality, and cutting carbon emissions from transport.

Guy Bartlett, Believ CEO, states that this funding signifies a significant commitment from private industry: “It recognises the scale of investment required and the urgency of the need,” he says. “Confidence in EVs will continue to grow as drivers see more infrastructure going into the ground. At Believ, we are very proud to be at the heart of this journey.”

Jonathan Pearson, Chairman of Believ and CFO of Liberty Growth at Liberty Global, comments: “The funding announced today demonstrates the potential of partnering with the public sector in the UK to create the critical EV charging infrastructure required for a greener future. With Virgin Media O2 on board as a delivery partner and leveraging Liberty Global’s financing expertise, we look forward to Believ rolling out much-needed EV charge points throughout the UK.”

“This landmark investment is a major moment – not just for Believ, but for the UK’s electric future,” says Massimo Resta, Partner at Zouk Capital.

“The EV market is at an inflection point. EV penetration is expected to accelerate, driven by the arrival of new mass-market vehicles at attractive price points. The EV charging rollout required to support the transition needs long-term private investment with strong partners. With this level of funding, Believ has the commercial strength, operational expertise, and local insight to deliver what communities and landowners need – on-street, town-centre, destination, and on-route charging – at real scale and pace. We are very excited about the opportunity in front of us and are proud to support Believ as it helps build the infrastructure backbone of a net zero Britain.”

Zouk Capital manages the UK Government-anchored Charging Infrastructure Investment Fund (CIIF) and boasts seven successful EV investments so far, underscoring its leadership in Europe’s EV charging sector.

The UK government is backing the industry with a £2.3 billion commitment, including a £200 million fund to expand public charging and a dedicated £381 million Local Electric Vehicle Infrastructure (LEVI) Fund for English local authorities. Coupled with substantial private investment, like Believ’s latest funding, these efforts promise record growth for the UK’s public charging network, ensuring EV drivers can charge conveniently wherever they are.

Lilian Greenwood MP, Minister for the Future of Roads at the Department for Transport, comments: “We’re working hard to ensure all drivers can charge easily and conveniently – no matter where they are. Believ’s investment is a brilliant vote of confidence in the transition to electric and another fantastic example of Government and industry working together to roll out tens of thousands of chargepoints across the country.

“We’re delivering our Plan for Change by investing over £2.3bn to help industry and consumers make a supported switch to EVs, alongside securing international trade deals and backing British carmakers to drive investment, protect jobs and put money in the pockets of working people.”

For Believ, much of the new capital will focus on on-street residential charging, a crucial development for drivers without access to off-street parking. Significant investment will also be directed towards rapid and ultra-rapid charging hubs, as well as underserved rural areas, ensuring that no community is left behind as the UK phases out petrol and diesel vehicles.

Recent wins highlight Believ’s momentum. The company secured Suffolk County Council’s LEVI contract, the first of its kind to be awarded and signed. Meanwhile, in the private sector, a strong pipeline of projects is poised for an announcement soon, signalling continued growth and expansion ahead.