WALES HAS ‘BELOW AVERAGE’ ELECTRIC VEHICLE INFRASTRUCTURE

Private investment in chargepoint infrastructure is “urgent,” says HSBC

The Wales population has low access to publicly-funded electric vehicle infrastructure relative to other parts of the UK, according to new analysis* from HSBC Commercial Banking.

Despite rising demand for electric vehicles and increasing awareness of the health issues caused by poor air quality, there are nearly 17,000 people in the UK for every publicly-available electric vehicle chargepoint, according to HSBC.

While around 47,000 plug-in cars were registered in 2017**, only 173 new, publicly-funded chargepoints became available that same year.

It is widely thought that the number of electric vehicle chargepoints registered in the UK will grow exponentially in the next five years – but HSBC warns this is unlikely unless private sector investment increases.

Scott McClurg, Head of Energy & Sustainability for HSBC Corporate Banking, said: “Chargepoints are a vital barometer for the health of the electric vehicle market. Infrastructure is fundamental to the successful transition to emission-free driving and so far the UK is falling short in many regions.

“While the major forecourt owners plan how to balance rising demand for chargepoints with the ongoing need for petrol and diesel pumps, there is an opportunity for private investors to plug the chargepoint gap across the UK.”

The bank says just four regions of the UK have an above-average number of public chargepoints per person. The North East of England has the most well-developed electric vehicle chargepoint infrastructure, with under 4,000 people (3,931) sharing every chargepoint in the region. The populations of Scotland and Northern Ireland also enjoy more than the UK average number of chargepoints per head.

However, the majority of the country still suffers from massive gaps in public chargepoint infrastructure. In Wales, around 98,000 people must share each public chargepoint available.

Scott McClurg added: “National Grid recently announced plans to overcome the challenge of long-distance electric vehicle travel. Urgent attention must now be given to local, urban solutions as more consumers and businesses transition to electric vehicles.

“If Wales is to shift to electric vehicles in the long term, the overall volume of chargepoints has to improve across the board. While there are clear opportunities to meet rising demand through the private sector, local authorities and central government are also looking closely at this space to ensure the right infrastructure is in place.”

HSBC has itself installed over 40 electric vehicle chargepoints at its offices around the UK and plans to add more in 2018.