Octopus EV has secured £2bn of funding to raise its own EV leasing fleet from 40,000 to more than 75,000.

Announced at COP30 in Brazil, the deal builds on a major funding line agreed with Lloyds in 2023, now joined by Morgan Stanley and Crédit Agricole CIB.

Octopus EV was launched in 2018 and now has over 133 types of electric car available from 30 different brands. Since launching its leasing offer in 2021, Octopus EV has created over 500 green jobs across London, Weybridge, Brighton and Manchester. Building on this success, it recently launched in Germany as it aims to expand its EV offerings globally.

Keir Mather, Minister for Aviation, Maritime and Decarbonisation, said: “We’re backing people and industry to make the switch with £4.5bn investment, and it’s great to see industry players like Octopus backing the EV revolution and getting more electric cars out on our roads.

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