EV Hub plans to provide very-fast charging hubs for fleets of electric taxis, cars, couriers and logistics vehicles at two central London sites with 10-30 bays each. It intends to use the latest “Rapid” chargers that only need approximately 30 minutes, versus 1-2 hours for older “AC” chargers, and overnight or all day for even slower home or workplace charging.
Additional revenue will be generated from ancillary services (including a café and valeting) which will occupy customers whilst they charge. Currently there are no similar services offered at charging facilities at any other London sites.
Further hubs are to be rolled out across UK city centres over five years and will also target individual electric vehicle (“EV”) owners. It is planned that these will be in partnership with retailers, car park operators, property landlords such as Tesco, Asda, Ikea, NCP, all of whom have been in discussion with EV Hub.
For the first hubs at King’s Cross and Heathrow the primary focus is on London’s c3,000 electric taxis and will also seek to attract other electric vans and cars operated by fleet operators such as Addison Lee, Amazon, private hire apps, and others.
The experienced management team features the high-profile media figure, Quentin Willson, a former Top Gear presenter and EV advocate since 2000.
The £3.2m funding will be used for leasing and operating two initial flagship sites with very high taxi flow – King’s Cross and Heathrow Airport – and to support working capital to profitability.
EV Hub is seeking up to £3.225m of equity funding from the Growthdeck network to deliver its business plan. The Company is in the process of seeking HMRC confirmation that it can qualify for the tax reliefs available under the Enterprise Investment Scheme (EIS).
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