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£400M electric car infrastructure scheme stalls

Electric car green 2by3

A proposed £400M government investment in electric car infrastructure has failed to get started after it emerged that it has failed to attract funding.

Chancellor Phillip Hammond announced financial support for charging points for the zero emissions vehicles in last year’s autumn budget, with £200M to come from public money matched by the same amount in private investment. 

But six months on from the announcement the process to hire a private sector fund manager for the project has not started and the search will not begin until this summer. 

In a written response to a parliamentary question, junior treasury minister Robert 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. Further details will be announced in due course.”

Shadow transport secretary Andy McDonald said: “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.”

When announcing the fund last year Hammond said: “Our future vehicles will be driverless, but they’ll be electric first. And that’s a change that needs to come as soon as possible.”

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