The UK Government’s National Wealth Fund (NWF) has outlined a bold new strategy to accelerate investment in electric vehicle (EV) infrastructure and domestic battery manufacturing, reinforcing its role in delivering the nation’s zero-emission transport goals and long-term industrial growth.
A Strategic Plan to Power the UK’s Clean Transport Future
The Unlocking the UK’s Future strategy, published on 28 January 2026, sets out how the NWF intends to deploy its remaining capital over the next five years to back critical sectors tied to clean energy and industrial transformation. Among its core priorities are investment in EV charging networks and the full domestic battery supply chain, from raw materials to gigafactory-scale production and recycling infrastructure.
Originally launched in October 2024 with around £27.8 billion in capital — building out from the former UK Infrastructure Bank — the NWF has so far committed about a third of its funds. The new strategy signals a shift toward larger, transformative investments aimed at leveraging both public and private capital.
“This is an exciting new chapter for the National Wealth Fund,” said Oliver Holbourn, NWF CEO, emphasising plans to drive more than £100 billion into the UK economy through infrastructure, supply chains and innovative projects aligned with the nation’s clean energy and growth missions.
Investment Priorities: Charging, Batteries and Beyond
The updated strategy targets a set of high-growth sectors where capital deployment can have a significant impact:
- EV Charging Infrastructure: The Fund intends to continue supporting expansion of high-quality public charging networks, including fast and reliable charge point deployment. This role builds on existing commitments with operators like Connected Kerb, Gridserve and Osprey, which together account for a meaningful share of the increased charging infrastructure required to meet 2030 targets.
- Domestic Battery Manufacturing: With global competition heating up over battery production capacity, the NWF emphasises support for the UK’s entire battery supply chain — from raw mineral processing to cell and pack manufacturing and recycling — to strengthen the nation’s industrial base and reduce foreign dependency.
These efforts align with broader Government targets that envisage a dramatic scale-up of EV adoption: estimates suggest the UK will need at least 250,000 public charge points by 2030 to support the increasing number of EVs on its roads.
Driving Jobs, Growth and Emissions Reductions
According to the NWF’s strategy, the planned investments have potential knock-on benefits that extend well beyond infrastructure alone. The Fund projects that its programme could:
- Create or support up to 200,000 jobs across charging networks, battery manufacturing and related supply chains.
- Accelerate the UK’s transition to clean energy, with emissions savings estimated at up to 500 million tonnes of CO₂e by 2050.
- Generate positive returns for UK taxpayers, reflecting a dual mandate of economic impact and fiscal responsibility.
Chancellor Rachel Reeves reiterated the Government’s commitment to growth and decarbonisation, noting that earlier NWF investments had already supported thousands of jobs and strengthened key industrial sectors. This next phase, she said, will “go even further … helping to deliver our modern Industrial Strategy and build a Britain that works for all.”
Why This Matters
The ramp-up in strategic investment comes at a pivotal moment for the UK’s clean transport ambitions. As the nation approaches its 2030 zero-emission vehicle mandate — which requires all new cars and vans sold to be zero emission by that year — the expansion of charging and battery manufacturing capacity is essential to ensure that infrastructure keeps pace with demand.
Moreover, previous NWF-backed deals — such as a £25 million commitment to support Denham Capital–backed Roam in accelerating fast EV charging deployment — illustrate the Fund’s role in catalysing private finance and reducing investment risk in key technologies.
Looking Ahead
The NWF’s strategy reflects a wider industrial agenda that seeks to enhance the UK’s competitiveness in clean energy and transport technologies, while also attracting private investment and supporting regional growth. By targeting critical nodes such as battery manufacturing and EV charging, the Fund is positioning the UK to be not just a consumer of clean technologies, but a producer and exporter in the global low-carbon economy.