Octopus Electric Vehicles is working with bankers at Investec on securing a big funding boost at a time of rising EV production in the UK, Sky News learns.
The electric vehicles arm of Octopus Energy's parent company is seeking a £100m funding boost to accelerate its growth amid soaring production of greener cars.
OEV is part of Octopus Energy Group, which secured a $5bn valuation just over a year ago and is now one of Britain's residential energy suppliers. The fundraising for OEV comes as data published by the Society of Motor Manufacturers and Traders showed that the number of EVs produced in the UK in January rose by nearly 50% compared to a year earlier.
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