Insights
EV registrations charging ahead.
As EV registrations hit a critical milestone in the UK, we explore the growth we can expect in this market.
In December of last year, fully electric vehicles outsold petrol for the first time in the UK, having outsold diesel for the past two years. This is a significant milestone for the UK EV market, and it indicates that the transition to electric mobility is well underway.
The vehicle data came out in January, but we could predict this result based on the growth we saw in power sales in December. As more EVs hit the road, the demand for public charging infrastructure will only increase.
The UK BEV market share is now where Norway was in 2015, which is a clear indication that we are at the start of huge growth for EVs on our roads and for rapid charging revenue via kWh sold. While we cannot assume that the UK will follow the exact same trajectory as Norway, there is no doubt that the growth potential for the EV market in the UK is massive.
Norway's success in EV adoption was in part due to the availability of a comprehensive charging network, and Osprey is making significant investments in this area, with plans to install thousands of new charging points in the coming years.
Public EV charging infrastructure will play a critical role in supporting the transition to clean energy. As the demand for EVs continues to rise exponentially, so too will the demand for public charging infrastructure.
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