A third (32%) of UK businesses are planning to invest in EV charging infrastructure over the next 12 months, new research by Drax Electric Vehicles has revealed.
The study, which surveyed over 400 senior decision makers across a range of sectors, found that almost half (48%) of businesses have already installed chargers, with the majority (91%) saying they plan to expand their infrastructure over the next five years.
When asked for the reasons for investing, 3 in 5 (60%) respondents said they were motivated by the general shift towards EVs and the need for their business to keep pace. Almost 1 in 3 (31%) said that they believe the world is moving towards electric driving, while 1 in 5 (22%) said there’s been an increase in EVs across their company car fleet.
Naomi Nye. Image: Drax
Many respondents also spoke of the associated benefits of switching to electric as a leading factor behind the decision to invest. The most frequently cited benefits were ‘sustainability’, ‘cost savings’ and ‘positive impact on reputation’.
Despite the rapid progress being made across the country, challenges remain for the EV market.
The findings show that cost is still the main barrier to adoption, with half (51%) of businesses citing this as their primary barrier.
Insufficient government support came second, with over a quarter of respondents including this in their top three barriers to electrification. However, the research also found that one in three respondents was unaware of governmental EV grants and financial incentives, which might have contributed to the perceived lack of support.
Commenting on the findings of the study, Head of Sales at Drax Electric Vehicles, Naomi Nye, said: “As an early adopter of EVs, fleets have been at the forefront of the UK’s transition away from fossil fuels towards electric. The research tells us that momentum remains strong across all sectors, but that there are still significant barriers we need to overcome.
“The next cohort of EV adopters need additional support and guidance as they navigate the unknown. They’re more risk averse than the first generation and want to be armed with as much information as possible before making a decision. That’s why we need to work together to create spaces where businesses can share their experiences, learn from other fleets, and connect with experts.”
