The growth of the UK’s EV charging network could be stunted by significant and unexpected cost hikes that mean many charging hubs aren’t currently turning a profit.
Ian Johnston, CEO of charger operator Osprey, told Autocar that “we are nowhere near profitability” because of skyrocketing electric grid costs.
Dora Clarke, Osprey’s head of external affairs, said the standing charge paid by the company for a “typical” hub in the Midlands with eight chargers has increased over the past three years from £99 per year to more than £8600. Osprey operates 56 such hubs nationally.
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