UK electric vehicle charging firms ‘seeking buyers amid rising costs and tough competition’ | Electric, hybrid and low-emission cars

British makers of electric chargers are asking rivals to buy them because they are short of cash amid rising costs and intense competition, industry bosses say.

A wave of mergers and acquisitions is likely to reduce the number of charging station operators from 150 to a market dominated by five or six players, said Asif Ghafoor, co-founder of Be.EV, a charging company backed by Octopus Energy.

Investors rushed to pour money into green technology and the electric car industry during the pandemic, fueled by cheap borrowing. Yet today, with intense competition, rising costs and delays in government funding, some shipper companies are short on cash and investors are looking for a return on their investment, according to several people in the industry.

Simon Smith, managing director of Voltempo, which focuses on truck charging points, said: “Charging is becoming both more capital expensive and more competitive. This means two things decide who survives: good sites and rapid uptake. If volumes don’t increase [up]ROI expands, assets are locked in, and consolidation ensues. This is simply the logic of the infrastructure market.

The number of chargers installed in the UK has soared in recent years as companies race to gain market share. There were almost 88,000 charging points across 45,000 sites in the UK at the end of 2025, according to data firm Zapmap.

Many charging station operators make money, but others have installed stations in anticipation of future demand, meaning they do not yet earn enough to cover costs, although they are likely to do so given the rapid increase in the number of electric cars on Britain’s roads.

Ghafoor said “many” unnamed companies have contacted Be.EV looking for a buyer. “Businesses are running out of money,” he said. “It’s a very crowded space. We have too many operators. All these companies are going to consolidate… This consolidation will allow for investment and that scale.”

Companies may be keen to pursue buyouts in an effort to achieve economies of scale, including the same number of back-office employees overseeing more charging stations, the ability to negotiate larger, cheaper national contracts, and bulk purchasing power.

Oil company Shell has the largest UK network, followed by government-backed Connected Curb and EDF-owned Pod Point. There are, however, many other competitors, including supermarkets Sainsbury’s, fossil fuel companies such as BP and Total, Scottish car retailer Arnold Clark and carmakers BMW, Ford, Hyundai, Mercedes-Benz and Volkswagen, which support the Ionity network.

“If you look at any of these markets, you usually see that everyone wakes up and says, ‘I’ll try,'” Ghafoor said. “Electric vehicle charging has been the largest sector that I will try that I have been involved in. »

Competition has forced small players to look for niches where they can make profits. Be.EV, with 2,500 chargers, focuses on ultra-fast charging in busy destinations such as retail parks and cafes. The company, backed with £110 million by Octopus Energy, is also pursuing its own acquisitions of smaller players. Voltempo installs charging stations at truck depots, whose owners have a predictable source of demand and the ability to rent their chargers to other users such as van fleets.

The pandemic-era timing of increased investment could also increase pressure on charging station operators. Some private equity (PE) and venture capital investors aim to make investments over five-year periods before having to show a financial return to their own backers. Ghafoor said “the PE cycle – which reverses within five years – is likely creating more pressure” on companies struggling to turn a profit.