Daily EV news · UK · 19 October 2026
EV Charging
EZO Secures €150 Million Senior Debt Facility To Accelerate EV Charging Expansion Across The UK And Ireland
EZO has closed a €150 million investment grade, non recourse senior debt facility to finance more than 3,000 charge points representing over 100,000 kW of capacity across the UK and Ireland. The financing, provided by a consortium including Aberdeen Investments and Standard Life, will support design, installation, operation and maintenance of infrastructure primarily under long term public sector concession arrangements. EZO estimates the charge points could generate over £1 billion in electricity sales over the next 20 years, with revenue ring fenced to repay the debt over seven years.
Why it matters
This represents the first investment grade financing of its type for EV chargers in the UK and Ireland, demonstrating bankability of public sector concession models and potentially unlocking similar structures for other CPOs. With EZO holding UK local authority contracts valued at over £1 billion and expecting Britain to become its primary market by 2027, the deal signals growing institutional confidence in long term public charging revenue streams.
Fuuse and Drax partner to migrate almost 1,000 former BP Pulse fleet depot customers across 14,000 charging sockets
Fuuse and Drax Electric Vehicles have formed an exclusive partnership to transition almost 1,000 former BP Pulse fleet depot charging customers, representing more than 14,000 charging sockets, in what is described as one of the largest infrastructure migrations in the UK EV sector. The deal follows BP's withdrawal from new workplace charging business in July 2025 to focus on public ultra-rapid hubs, and includes ongoing warranty protection and enterprise-grade service and maintenance. The appointment follows more than a year of collaboration, hardware testing and platform development between BP Pulse and Fuuse.
Why it matters
This migration demonstrates how major CPO exits reshape the depot charging market and create consolidation opportunities for specialist operators. For procurement teams, it shows that large scale fleet charging estates can be transitioned without hardware replacement, preserving capital investment while maintaining warranty cover.
Fuuse and Drax to migrate almost 1,000 bp pulse fleet customers covering more than 14,000 charging sockets
EV charge point management platform Fuuse will work with Drax Electric Vehicles to transition almost 1,000 former bp pulse fleet charging customers, representing a combined total of more than 14,000 charging sockets. The migration, described as one of the largest in the UK EV sector, follows a year of collaboration, hardware testing and platform development between bp's EV charging business and Fuuse. Fleets will retain and optimise their existing charging infrastructure without rip and replace programmes, while Drax will provide nationwide service and maintenance support including continuation of existing hardware warranties.
Why it matters
The deal demonstrates the scale of fleet depot charging consolidation in the UK market and highlights the importance of platform interoperability for charge point operators managing large customer transitions. It also shows how service partnerships can protect existing infrastructure investment during operator changes, a key consideration for fleet procurement decisions.
Electric Vehicles
Whippet bus operator reports over 80% of fleet now Euro VI or zero emission amid Volvo renewal
Cambridge-based bus operator Whippet has continued its fleet renewal programme, bringing more than 80% of its total fleet to Euro VI or zero tailpipe emission standards, with its diesel fleet now exclusively Volvo vehicles. The operator claims the investment has resulted in the lowest average fleet age among Cambridgeshire bus operators, though it has not disclosed the number of vehicles acquired, total investment value or current average fleet age. Whippet is also participating in the £3.88 million Commercialising Connector autonomous bus project in Cambridge alongside Alexander Dennis and Fusion Processing.
Why it matters
The fleet upgrade signals ongoing commitment to cleaner bus operations in Cambridgeshire despite franchising uncertainty, potentially creating demand for charging infrastructure as zero emission vehicles enter service. Whippet's involvement in the £3.88 million autonomous bus project may also drive future requirements for depot charging and route electrification planning.
Policy & Market
UK leasing body warns Autumn Budget must fix company car tax to support struggling EV market
The British Vehicle Rental and Leasing Association has called for changes to company car tax in next week's Autumn Budget, citing a widening gap between strong fleet demand and weak retail EV sales. HMRC data shows 920,000 people now pay Benefit in Kind tax on company cars, up 200,000 since 2020/21, with half (467,000) in electric vehicles and a quarter (220,000) in plug in hybrids. BVRLA members' combined fleets grew 25% over five years to Q2 2026, rising from 1.37 million to 1.67 million vehicles, driven by tax incentives that set BiK rates at 4% for EVs versus at least 26% for efficient petrol and diesel models in 2026/27.
Why it matters
The imbalance between tax supported fleet demand and lagging retail sales signals potential market instability for charge point operators relying on diverse customer segments. Any Budget changes to company car tax could reshape EV adoption rates and infrastructure investment priorities across the UK.
UK launches £650 million Electric Car Grant offering up to £3750 off 64 eligible EVs
The UK government's Electric Car Grant scheme, which began rolling out in July 2025, provides discounts of either £1,500 or £3,750 on electric vehicles priced below £37,000 or £42,000. The two tier system awards the full £3,750 discount to vehicles meeting stringent criteria on real world range, sustainability and warranty cover, with eligibility determined by production carbon footprint including battery manufacturing and grid intensity. The scheme now covers 64 models ranging from superminis to SUVs, with the Abarth 500e among those qualifying for the top band discount from an original price of £27,995.
Why it matters
This £650 million grant scheme directly impacts EV adoption rates and charging infrastructure demand planning, as subsidised vehicles below £42,000 will accelerate fleet electrification and require corresponding public and workplace charging capacity. CPOs and installers should monitor uptake patterns across the 64 eligible models to forecast charging demand in residential and destination locations where these affordable EVs will concentrate.