A staggering £300million in funding has been given the green light, which will see drivers benefit from at least 30,000 new electric car charging points.

Believ, an EV charge point operator, secured the massive investment to install a range of new chargers around the UK.

The company said the massive £300million investment would "cement Believ’s industry-leading position as a commercially sustainable business".

The latest data from Zapmap shows that there are just under 81,000 chargers across the UK, with the Government aiming to have 300,000 installed by the end of the decade.

Labour has praised the massive £300million investment in new electric vehicle chargers

In the last month, 1,344 new chargers were installed, with hopes that the 100,000 charger mark will be passed this year.

This will be boosted massively by a recent announcement from the Government that drivers and businesses would no longer have to apply for planning permission to install a charger.

Labour said getting rid of red tape would accelerate the pace of installations and help more drivers have confidence in electric vehicles, even if they don't have a home charger.

Guy Bartlett, CEO of Believ, said the funding was a sign that private industry recognised the scale of investment needed to help motorists switch away from polluting petrol and diesel vehicles.

Labour slashes red tape on electric vehicle chargers to save drivers £1,100 a year and 'months of delays'

The funding will support the installation of more than 30,000 EV chargers

He added: "Confidence in EVs will continue to grow as drivers see more infrastructure going into the ground. At Believ, we are very proud to be at the heart of this journey."

The funding is backed by Believ’s joint owners, Liberty Global and Zouk Capital, as well as financing banks (Santander, ABN Amro, NatWest and MUFG).

The private funding comes alongside £2.3billion in investment from the Government to help drivers make the switch to electric vehicles with more chargers and incentives.

Around £381million of this is available to local authorities through the Local Electric Vehicle Infrastructure (LEVI) fund, as well as £200million to expand public charging.

Future of Roads Minister, Lilian Greenwood, who announced the cutting of red tape at the end of May, said the Government was working hard to help motorists make the switch to EVs.

The Labour MP for Nottingham South added: "Believ's investment is a brilliant vote of confidence in the transition to electric and another fantastic example of Government and industry working together to roll out tens of thousands of chargepoints across the country."

She noted that the move towards more electric vehicles was a crucial part of Labour's Plan for Change, which will back British carmakers and "put money in the pockets of working people".

Much of the Believ funding will be dedicated to on-street, residential locations designed to help drivers without off-street parking transition to EVs.

Believ investors Jonathan Pearson (Liberty Global), Guy Bartlett (Believ) and Massimo Resta (Zouk Capital)

The charge point operator added that "significant funding" would be allocated to rapid and ultra-rapid charging hubs, in addition to rural and "undeserved" locations to ensure no area is left behind.

Data shows that London (24,200) has more than double the number of EV chargers than the combined amount of chargers in Scotland (6,958), Wales (3,453) and Northern Ireland (688).

Jonathan Pearson, Chairman, Believ and CFO, Liberty Growth at Liberty Global, comments: "The funding announced today demonstrates the potential of partnering with the public sector in the UK to create the critical EV charging infrastructure required for a greener future.

"With Virgin Media O2 on board as a delivery partner and leveraging Liberty Global's financing expertise, we look forward to Believ rolling out much-needed EV charge points throughout the UK."