
Revolutionizing Retail: The Future of EV Charging
In a major leap towards sustainability, Be.EV has initiated a significant partnership with Schroders Capital to install over 200 ultra-rapid EV charging bays across 22 retail and leisure properties in the UK. With a projected investment of £20 million, this collaboration aims to enhance the UK’s electric vehicle infrastructure, positioning both companies at the forefront of the energy transition.
The charging stations will feature state-of-the-art Kempower chargers capable of providing up to 325 miles of range in just 20 minutes, catering to some of the most frequented retail locations housing brands like Sainsbury's, Aldi, and Marks & Spencer. This rollout not only supports EV drivers but also aims to incentivize retailers by boosting shopper footfall.
Why This Investment Matters Now
The UK is experiencing a surging interest in electric vehicles, with registrations of new EVs expected to grow by 31% by 2025. According to a recent survey, 57% of drivers utilizing public charging stations visit shops or cafés during charging. This trend signifies not just a win for EV users but a financial boon for retailers within the charging bay proximity.
Asif Ghafoor Speaks on the Partnership
Asif Ghafoor, CEO of Be.EV, expressed excitement over the partnership, stating, “This is a landmark deal for Be.EV, helping big brands benefit from the increased footfall boosts brought on by charging.” The strategic decision to partner with Schroders Capital represents a forward-thinking approach in business, where companies adapt to changing consumer needs and sustainability goals.
Commitment to Sustainability
This initiative aligns with Schroders Capital's own commitment to net-zero targets and is designed to future-proof retail properties by integrating essential infrastructure for the growing EV market. In doing so, both companies demonstrate a strong belief in the pivot towards greener solutions in real estate and retail.
Potential Financial Benefits for Retailers
The introduction of ultra-rapid chargers is set to create a lucrative opportunity for retail outlets housed at these properties. As more drivers convert to electric vehicles, providing accessible charging solutions directly correlates with increased customer visits, thereby enhancing revenue streams for retailers.
Looking Ahead: Impact on the EV Market
The ambitious plans announced by Be.EV reflect broader trends toward expanding the electric vehicle market in the UK. With further legal agreements already in the pipelines for additional locations, the implications for both consumer convenience and retailer profitability appear bright.
This innovative partnership serves as a timely reminder that as we push towards a more sustainable future, the business landscape must evolve. By prioritizing electric vehicle infrastructure, Schroders Capital and Be.EV are not only contributing to environmental preservation but are also setting a precedent for other companies to follow suit.
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