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Vertu Motors Plc

An Additional £2.5m To Be Pumped Into Electric Vehicle Chargepoints

Transport Secretary, Grant Shapps, has announced today that the government will be giving an additional £2.5 million to support the on-street residential chargepoint scheme.

Launched in 2017, the scheme is designed to increased chargepoint infrastructure across the UK to make it more accessible, for those who don’t have access to off-street parking, to charge their electric vehicles.

However, the Transport Secretary is keen to step it up a gear and pump more funding into the scheme to meet demand and meet the net zero emissions target by 2050 in the UK.

Vertu Motors Plc (LON:VTU) operates as an automotive retailer in the United Kingdom. The company sells new cars, motorcycles, commercial vehicles, and used vehicles, as well as provides related aftersales services. It operates a chain of franchised motor dealerships inluding Bristol Street Motors.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.