Number of electric vehicles in U.K. increases 52% year-on-year
A rapid rise in the number of electric vehicles across the United Kingdom presents an opportunity to support high street and out-of-town retail and an additional income stream for landlords, according to the latest research from Knight Frank.
The number of ultra-low emission vehicles (ULEVs) registered across the United Kingdom, the vast majority of which are electric vehicles (EVs), rose by 52 percent during 2020, up from 245,000 in the third quarter 2019 to 373,000 in third quarter 2020.
The increase in the adoption of electric vehicles provides both a challenge and an opportunity for real estate owners.
Retailers have been adapting to a structural shift towards ecommerce and have been among the hardest hit by the pandemic restrictions, but shopping centers and retail parks could be among the winners from the growth in electric vehicles. The need to charge electric vehicles provides an incentive for EV drivers to visit and spend time at locations where fast an