EV charging could bring £15.5 billion boost to UK economy over a decade

The EV charging sector could contribute more than £15 billion to the UK’s economy over the coming decade, a new report suggests.

The study, commissioned by industry body ChargeUK and produced by LCP Delta, estimates that industry’s economic contribution will increase 15-fold between now and 2035, putting it on a par with the telecoms and broadcasting industries.

As well as an increase in direct value contribution from £2.5bn to £15.5bn, the report estimates the industry’s growth could support a wider £385bn “economic opportunity” around wider transport electrification and UK-based battery and motor production.

It also suggests the continued roll-out of charging infrastructure could create and support tens of thousands of new jobs.

Around 12,000 people are already directly employed in the EV charging sector, with projections that this could grow to 35,700 within 10 years. Beyond that, the findings suggest it could support 334,000 additional jobs across the wider EV sector, including automotive and battery manufacturing, retail and servicing.

Vicky Read, CEO of Charge UK said the report showed the current success of the charging industry was “just the start”.

She said: “There is a huge jobs and growth opportunity ahead, not just for our sector but for EV charging as a foundation for a globally competitive automotive industry, for a secure energy system, and for transport choices that deliver cheaper, cleaner driving. But the industry, which is pre-profit, is at an inflection point. Upcoming policy decisions are pivotal in determining whether it can deliver that growth.”

Her comments reflect concerns that the Government may be about to weaken the ZEV Mandate, and the potential impact that could have on the charging industry.

As the government reportedly considers dropping the 2030 target for sales of EVs from 80% to 50%, the report estimates such a move could see CPOs halve their investment over the next five years – a potential reduction of up to £2 billion.

John Murray, head of EVs at LCP Delta, said that the £15.5bn contribution was “well within reach” as long as the industry had a “supportive and predictable” framework from government.

He noted: “Our analysis highlights the vast scale of the economic growth and job opportunities that the EV charging sector represents. As a cornerstone of the UK’s EV transition, the charging sector requires a clear and predictable pathway for growth — one that supports continued investment, keeps pace with rising demand, and enables operators to build sustainable businesses.”

Vicky Edmonds, CEO of EVA England, added: “This report reinforces the importance of maintaining stability in the ZEV Mandate. Clear, consistent policy is essential not only for industry investment, but also for consumer confidence and EV sales.”