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Octopus says electric vehicles have surged past £2bn in electric car funding - after it was handed new backing from leading banks Lloyds, Morgan Stanley, and Crédit Agricole CIB.

The deal marks a major milestone for Octopus EV, surging past £2bn in total EV funding. Octopus now has funds to expand its UK fleet from 40k to 75k electric cars.

The deal allows Octopus to supercharge its EV fleet, and builds on a major funding line agreed with Lloyds in 2023, now joined by international banks Morgan Stanley and Crédit Agricole CIB.

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The announcement was made at COP30 in Brazil and comes as electric cars screech ahead of their petrol counterparts – hitting a record 26% of all new car sales in t

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