Liberty Global Ventures and Zouk Capital announce a joint venture partnership, Liberty Charge, which will roll out on-street residential electric vehicle charging points in the UK.
Zouk is the manager of the Charging Infrastructure Investment Fund (CIIF), the dedicated fund established by the UK Government in 2019 and backed by HM Treasury to help develop public charging infrastructure points for electric vehicles throughout the UK.
Leveraging Virgin Media’s connectivity network, infrastructure deployment capabilities and trusted relationships with local authorities, the 50:50 joint venture – originally set up as a small incubation initiative within Liberty Global Ventures last year – will focus on providing the under-the-pavement power and communications infrastructure necessary for electric vehicle charging in residential areas.
According to research, more than 40% of urban vehicle owners don’t have access to a driveway they could use to charge an electric vehicle. The venture will provide charge point operators and local authorities with so-called ‘plug and play’ on-street charging facilities in large cities and towns where many residents don’t have access to off-street parking.
The partnership supports Liberty Global’s efforts in this space following on from its Virgin Media Park and Charge (VPACH) project, which aims to deploy 1,200 charging sockets in towns and cities across the country by early 2021. Access to public electric vehicle charging is a key initiative within the UK government’s drive to reduce net carbon emissions to zero by 2050.
Providing on-street residential charging is a core component of Zouk’s Charging Infrastructure Investment Fund strategy.