UK-based Octopus Investments has invested £50 million in charging network Weev, which plans to expand its network of EV chargers in Northern Ireland.
According to Weev, the UK government’s commitment to end the sale of petrol and diesel cars and vans by 2030 highlights the need of Northern Ireland’s disproportionately underserved EV drivers.
“This investment from Octopus enables a major expansion to the size and scope of the rollout we announced at launch last year,” said CEO Philip Rainey. “We can now increase our focus on providing more rapid and ultra-rapid charging hubs in response to growing demand from EV drivers. In total, the capital will enable us to install and maintain a network of thousands of EV charging points over the next five years using locally based teams and expertise.”
Source: Weev