Cardiff-based electric vehicle (EV) infrastructure provider Plug Charging has reported rapid growth as demand for EV charging infrastructure accelerates across the UK.
Founded in 2023, Plug Charging has quickly evolved from a regional operator into a scalable national EV infrastructure business, supported by three strategic acquisitions that have helped build a 1,500-charger managed network.
Over the past 12 months, the company has delivered significant financial and operational growth, reflecting rising demand across its infrastructure platform. Plug Charging’s revenue increased by 335% year-on-year, while gross profit grew by 868%. Operating profit rose by 1,262% over the same period, with net assets climbing by 2,300%.
Image: Plug Charging
To support this rapid expansion, the business has trebled the size of its team. The company now services depot-based charging, public charging, and full end-to-end operation and maintenance of EV charge points.
Plug Charging CEO and founder Jarrad Morris said: “Plug Charging has evolved rapidly, and we are proud to be building and operating infrastructure networks with long-term commercial and strategic value. We are seeing huge momentum across this sector, and this growth reflects the strength of both our delivery model and strategy.
“The market is entering a new phase where long-term operational capability and infrastructure quality matter more than ever. We believe our strategy strongly positions Plug Charging for the next stage of growth as EV adoption continues to accelerate across the UK.”
The company recently announced the rollout of a lamp column charging pilot across Cardiff, delivering accessible, on-street EV charging for residents while reinvesting directly into local communities, showcasing the growing capabilities of the business. The project, delivered in partnership with Cardiff Council, upgrades existing street lighting infrastructure to provide convenient residential EV charging, designed specifically for longer dwell times such as overnight charging.
Plug Charging has also secured a concession contract with Isle of Anglesey County Council to deliver, operate and maintain up to 100 on-street EV charging points across 17 locations. The supplier-funded agreement runs for 15 years, with the potential for a five-year extension, and will see Plug Charging manage the network while generating revenue from charger usage.
The company’s growth comes at a time when demand for EV charging infrastructure is rising sharply across the UK, driven by increasing EV adoption and growing pressure on local authorities to provide accessible on-street charging options for residents without off-street parking. On-street and lamp column charging in particular is increasingly seen as a key solution for urban areas, where many drivers cannot install home chargers.
Plug Charging’s model, combining acquisitions with council partnerships and long-term concession agreements, appears designed to give the business a diversified revenue base spanning depot, public and residential charging. This approach may help position the company to capitalise further as local authorities across Wales and the wider UK continue to invest in EV infrastructure to meet net-zero targets.
