Cardiff-based electric vehicle (EV) infrastructure provider Plug Charging has reported rapid growth as demand for EV charging infrastructure accelerates across the UK.
Founded in 2023, Plug Charging has quickly evolved from a regional operator into a scalable national EV infrastructure business, supported by three strategic acquisitions building a 1,500-charger managed network.
Over the past 12 months, the company has delivered significant financial and operational growth, reflecting the increasing demand across its infrastructure platform.
Plug Charging’s revenue increased by 335% year-on-year, while gross profit grew by 868%. The business saw its operating profit rise by 1,262% year-on-year as well as net assets rising by 2,300% during the period.
To support this rapid growth the business has successfully expanded its team trebling the number of employees. The company now services depot-based charging, public charging and full end-to-end operation and maintenance of EV charge points.
Plug Charging CEO and Founder Jarrad Morris said: “Plug Charging has evolved rapidly, and we are proud to be building and operating infrastructure networks with long-term commercial and strategic value. We are seeing huge momentum across this sector, and this growth reflects the strength of both our delivery model and strategy.
“The market is entering a new phase where long-term operational capability and infrastructure quality matter more than ever. We believe our strategy strongly positions Plug Charging for the next stage of growth as EV adoption continues to accelerate across the UK.”
Plug Charging, recently announced the rollout of a lamp column charging pilot across Cardiff, delivering accessible, on-street EV charging for residents while reinvesting directly into local communities showcasing the growth in capabilities of the business.
The project, delivered in partnership with Cardiff Council, upgrades existing street lighting infrastructure to provide convenient residential EV charging, specifically designed for longer dwell times such as overnight charging.
Plug Charging has also secured a concession contract with Isle of Anglesey County Council to deliver, operate and maintain up to 100 on-street EV charging points across 17 locations. The supplier-funded agreement runs for 15 years, with the potential for a five-year extension, and will see Plug Charging manage the network while generating revenue from charger usage.
