A decline in electric vehicle infrastructure investments by GPs and institutional investors this year is likely to reverse, with the sector showing long-term appeal, according to Alex Harrison, an energy partner at US-headquartered law firm Akin.

He expects investments to rise next year, driven by an increase in vehicle sales supported by government incentives and environmental awareness. Goldman Sachs Research said this year that it estimates EV sales will rise to around 73 million units in 2040, compared with 2 million in 2020.

Data compiled by Infralogic show a 60% decline in EV infrastructure investment by GPs and institutional investors this year. London-based Harrison, who has advised on EV transactions, said growth will be moderate and is unlikely to match pre-2023 levels because most asset managers have already consolidated their platforms and will now focus on maximising returns.