Liberty Global Ventures Launches UK’s First Subscription-Based Service for Home-Charging Electric Vehicles
February 08 2022 - 4:00AM
Business Wire
New Venture, Egg, will Primarily Focus on Providing Electric
Vehicle Charging on a Subscription Basis
Customers Will Be Charged a Monthly Fee for Ongoing
Maintenance and Technical Support – with No Up-Front
Payments
Liberty Global Ventures, the investment arm of Liberty Global
plc (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK), has
launched a renewable energy brand, Egg, offering a range of clean
technology solutions, including electric vehicle charging on a
subscription basis.
Last year more electric vehicles were sold in the UK than the
previous five years combined. As electric cars continue to grow in
popularity, Egg’s subscription charging service ensures that its
customers have a reliable, sustainable and cost-effective energy
solution for their vehicle. The innovative subscription model -
which hasn’t previously been available in the UK - means that
customers benefit from ongoing maintenance and technical support,
all included in a monthly £30 fee and without any up-front
fees.
Egg’s launch comes ahead of the UK government ending the
Electric Vehicle Homecharge Scheme (EVHS) at the end of March. This
means that new electric vehicle owners are no longer able to access
a grant of up to £350 for hardware installation. Egg’s monthly
subscription model will help ensure that electric vehicle charging
remains accessible and affordable for consumers despite the removal
of the grant.
The subscription model also leverages the extensive expertise
Liberty Global has in delivering subscription products and related
support. Previously, home-based electric vehicle charging
facilities have typically been installed by the sellers of the
equipment without any access to ongoing maintenance and support
services. As well as providing electric vehicle charging, Egg will
also offer solar panels and battery storage facilities. This means
that customers are able to store excess energy created by Egg solar
panels to use at home, whether that’s to charge their electric car
or for other uses.
The launch of Egg follows Liberty Global Ventures’ acquisition
of The Phoenix Works, a specialist sustainable energy solutions
provider, in 2020. Egg becomes the second company in the renewable
energy sector to be launched by Liberty Global. Also in 2020,
Liberty Global Ventures and Zouk Capital – an infrastructure
investment fund established by the UK government and backed by HM
Treasury – launched a joint venture, Liberty Charge, rolling out
on-street residential electric vehicle charging points in the
UK.
Robert Dunn, MD, Liberty Global Ventures, comments: “The
renewable energy sector represents an exciting value creation
opportunity for Liberty Global Ventures as demand for sustainable
energy solutions and electric vehicle charging continue to grow
exponentially. As one of the world’s leading connectivity
providers, we’re exceptionally well placed to capitalise on this
opportunity: we’re a trusted home installer and have long-standing
expertise in sustaining subscription relationships, as well as
extensive experience in providing consumers with financed assets
such as mobile handsets, for example. While we’ll take a measured
approach in our first few months to keep up with consumer demand,
we look forward to rapidly scaling the business as the market for
electric vehicle charging and renewable energy solutions continues
to grow at pace.”
Thomas Newby, Chief Executive Officer, Egg, adds: “As electric
vehicles become more and more popular, Egg provides a convenient,
cost-effective and reliable home charging solution. Egg’s
subscription model helps ensure that electric vehicle users are
safe in the knowledge that their car is fully charged when they
need it to be, reducing the risk and uncertainty for consumers when
making the switch to an electric car. This peace of mind is
underpinned by the technical support and maintenance services
offered by our in-house experts, all included in a monthly
subscription.”
Egg’s website is now live at crackingenergy.com
ABOUT LIBERTY GLOBAL
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is a world
leader in converged broadband, video and mobile communications
services. We deliver next-generation products through advanced
fiber and 5G networks that connect over 85 million subscribers
across Europe and the United Kingdom. Our businesses operate under
some of the best-known consumer brands, including Virgin Media-O2
in the UK, VodafoneZiggo in the Netherlands, Telenet in Belgium,
Sunrise UPC in Switzerland, Virgin Media in Ireland and UPC in
Eastern Europe. Through our substantial scale and commitment to
innovation, we are building Tomorrow’s Connections Today, investing
in the infrastructure and platforms that empower our customers to
make the most of the digital revolution, while deploying the
advanced technologies that nations and economies need to
thrive.
Our consolidated businesses generate annual revenue of more than
$7 billion, while our joint-ventures in the UK and the Netherlands
generate combined annual revenue of more than $17 billion.
Liberty Global Ventures, our global investment arm, has a
portfolio of more than 75 companies and funds across content,
technology and infrastructure, including strategic stakes in
companies like Plume, ITV, Lions Gate, Univision and the Formula E
racing series.
Revenue figures above are provided based upon 2020 results and
on a combined Virgin Media and O2 UK basis. For more information,
please visit www.libertyglobal.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220207005752/en/
Liberty Global
Investor Relations Michael Bishop +44 20 8483 6246
Corporate Communications Matt Beake +44 20 8483 6428
Liberty Global (NASDAQ:LBTYK)
Historical Stock Chart
From Aug 2024 to Sep 2024
Liberty Global (NASDAQ:LBTYK)
Historical Stock Chart
From Sep 2023 to Sep 2024