The electric vehicle charging sector can deliver £15.5bn directly to the economy by 2035 and unlock up to £385bn of GVA by 2035 to wider transport electrification, according to a report by LCP Delta.

LCP Delta’s report, Powering a Decade of Growth: the economic impact of UK EV charging, commissioned by charging industry association ChargeUK, provides analysis on the EV transition across the next ten years.

EV charging has a £2.5bn annual turnover, a figure expected to climb to over £8bn yearly by 2035 as both EV adoption and charging investment grow.

As a comparison the EV sector’s potential £27bn of direct GVA in the year of 2035 is similar in scale to the telecommunications (£35bn), publishing/broadcasting (£37bn), water/waste (£30bn), metal manufacturing (£25bn) and pharmaceutical manufacturing (£24bn) sectors’ figures of 2023.

The report also found that the 12,000 EV charging jobs in 2026 will scale up to 35,700, doubling to 71,500 including the supply chain and overall, it could facilitate 334,000 roles across the EV sector, including automotive and battery manufacturing, retail and servicing.

However, these predictions can only be achieved with a "stable" ZEV Mandate, and charge point operators’ said investment could halve if the ZEV Mandate was altered again, reducing up to £2bn in capital expenditure on infrastructure rollout with a knock-on impact on the UK’s ability to seize the full benefits.

The industry spent £587m in infrastructure capital in 2025 as it continued to invest ahead of demand and pre-profitability. This figure is expected to reach £8.4bn over the decade and the analysis indicates the industry could attract £30bn in external investment as margins improve and assets increase in value. The report also found if action was taken to address the cost of public EV charging, including VAT equalisation with home charging and relief from fixed energy costs, operators’ responses indicated an investment upside of as much as an extra £5.7bn in the same period.

Vicky Read, chief executive, ChargeUK said: “The EV charging sector is already a British success story with more than 1.7 million chargers, including over 120,000 on the public network. This is the infrastructure that has made the sale of two million EVs possible. This new report shows that this success is just the start. 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.”

The report focuses on the growth prospects to 2035, when the EV fleet might only represent one-third of vehicles on the road. Consequently, there could be a continuation of strong growth beyond 2035 as the fleet continues towards full electrification.

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