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The acquisition adds over 1,600 charging bays across more than 450 sites to the Be.EV network, strengthening its presence across the South of England, creating a truly nationwide UK footprint and complementing its existing strength in the North and Midlands.
As driver demand continues to shift towards faster, high-powered public charging, the deal moves Be.EV into the UK’s top 10 charging networks by rapid and ultra-rapid charging capacity, offering EV drivers more choice, simpler journeys and fewer barriers to public charging.
Be.EV is majority owned by Octopus Energy Generation’s Sky Fund, including an employee ownership stake. The fund has raised over £2.5bn from institutional investors and invests into a globally diversified portfolio of renewable and energy infrastructure assets.
The majority of the newly-enlarged network will, in time, be powered by Octopus Energy and offer nationwide access to Be.EV’s market leading 39p/kWh subscription and 7pm-7am off-peak pricing.
Mer’s UK public charging assets will be fully integrated into Be.EV’s existing network and its current customers will still be able to access their favourite chargers seamlessly, while benefiting from Be.EV’s great value pricing.
Mer will refocus its public EV charging strategy on its core European markets, but will continue to operate its extensive fleet charging network in the UK, which includes approximately 500 workplace chargers available to employees and site visitors.
“We’re delighted to bring Mer’s network into Be.EV and even more excited about what it means for drivers. People don’t want to think about charging, they just want it to work, whenever and wherever they are. This acquisition brings the reliable Be.EV experience to more places, and the scale we gain helps us keep public charging affordable – including our market-leading off-peak and subscription pricing from 39p/kWh. It’s a natural fit with our existing network and will sit alongside our continued investment in new sites and service improvements.”
Asif Ghafoor, CEO of Be.EV
“We are pleased to see Mer’s UK public charging network join Be.EV, a company with a strong customer-centric approach and clear ambitions in public charging. This transaction supports Be.EV’s growth while allowing Mer to sharpen our strategic focus on our core European markets. Ultimately, both companies share the same goal – making EV charging simple and accessible for everyone.”
Kristoffer Thoner, CEO at Mer
As a combined network, Be.EV expects to benefit from efficiencies of scale, including improved buying power, more efficient network operations and lower overheads per site. These synergies are expected to accelerate the company’s path to profitability while supporting continued organic growth through new site development.
Be.EV plans to continue and build upon the strong, well-performing network developed by Mer. The company will invest in targeted upgrades and selective replacement of equipment over time, with the aim of further strengthening reliability and maintaining the high-quality, seamless charging experience Be.EV is renowned for. Be.EV does not expect to close sites as part of the acquisition and will focus on enhancing discoverability, reliability and customer experience by applying its existing operational and marketing approach across the expanded estate.
The transaction involves the acquisition of Mer’s UK public charging business, excluding fleet operations. The combined organisation will be supported by a streamlined team following completion.
Be.EV was advised by DLA Piper (legal); Alvarez & Marshall (finance and technical) and EY (tax). Mer were advised by BNP Paribas and Pinsent Masons.
For more information, please visit Be.EV’s website: http://be-ev.co.uk/mer
Mer is a key player in the European EV charging market focused on building and operating reliable, user-friendly charging infrastructure. With operations across Norway, Sweden, UK, Germany and Austria, Mer is committed to making EV charging simple and accessible for drivers, while supporting the transition to renewable, sustainable mobility across Europe. The company is owned by Statkraft, Europe’s largest producer of renewable energy.
Be.EV is the UK’s second ranked medium-sized rapid/ultra-rapid EV charging network as voted by EV drivers and revealed by Zapmap. Established in Greater Manchester in 2019, Be.EV today operates nationwide and is among the top 10 largest networks by number of rapid and ultra-rapid charging bays.
It currently operates a growing network of over 2,500 live charging bays across 680 sites in the UK. It is backed by £110 million from Octopus Energy Generation and a further £55 million from lenders NatWest and KfW IPEX-Bank.
Its core focus is on what EV drivers of today and tomorrow want: publicly accessible, rapid and ultra rapid Charging Hubs conveniently located on busy routes, at dwell destinations and in the hearts of communities nationwide.
Be.EV is uniquely focused on customer and community over kit – engaging with its 80,000+ members who play an active role in shaping their cleaner and greener neighbourhoods of the future.
It recognises that great customer experience is key to EV adoption, charger usage and network growth, so has invested heavily in its brand, customer and community offerings to ensure Be.EV is the no. 1 charging network of choice for EV drivers in the UK.
Be.EV offers straightforward pricing across its ultra-rapid hubs, including a market-leading 39p/kWh rate and the UK’s longest off-peak charging window. Be.EV also supports fleet and professional drivers with fast, reliable charging, well-lit sites and 24/7 customer support.
You can find Be.EV on LinkedIn (Be.EV), Instagram (@Be.EV.Charging), X/Twitter (@BeEV_Charging), TikTok (@be.ev_charging) and YouTube (Be.EV Charging).
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