Photo: YouTube Screenshot/Steve Julien
He’s not the type to smack you in the face with his success, but John Malone, aka Cable Cowboy, is the single largest landowner in the U.S., and a media mogul with a net worth estimated at $9.22 billion. His interests are vast and far-reaching, from Formula 1 to media companies like Discovery Channel. He’s also set his eyes on UK’s electric car industry, and just launched a car charging venture.
Let’s face it. UK’s vehicle production isn’t the most lucrative of markets. According to recent reports, the market is at its lowest since 1956. SMMT (Society of Motor Manufacturers and Traders) says the decline is due to the global pandemic and microchip shortage.
Despite the industry taking a dip, the UK experienced a 30% rise in electric and hybrid production, accounting for nearly a quarter of all the vehicles built. But the Cable Cowboy seems to have caught on to something, and is betting on UK’s electric vehicle market with an electric car charging venture.
Malone, through Liberty Global, has set up Egg, an EV charging venture that offers electric car owners charging points at their homes for £30 a month, as British publication The Telegraph reported.
The billionaire controls the investment arm of the telecoms holding company, which also co-owns Virgin Media O2.
Liberty Global is eying a gap in the UK market after industry specialists warned of a looming infrastructure crisis in a booming EV market. Last year, Egg, the EV charging firm, formed a joint venture with Zouk Capital rolling out street charging stations in the UK.
Liberty Global is an American listed company, but has a significant interest in the UK. It is currently the largest shareholder in ITV, the biggest commercial broadcaster in Britain, and also owns major stakes in ALL3Media and Formula 1.
The UK will ban the sale of new gasoline and diesel vehicles from 2030, and Malone seems to have got wind of the impending opportunities. Leading UK manufacturers such as Bentley have also set plans to start producing all-electric vehicles by 2025.
Despite the industry taking a dip, the UK experienced a 30% rise in electric and hybrid production, accounting for nearly a quarter of all the vehicles built. But the Cable Cowboy seems to have caught on to something, and is betting on UK’s electric vehicle market with an electric car charging venture.
Malone, through Liberty Global, has set up Egg, an EV charging venture that offers electric car owners charging points at their homes for £30 a month, as British publication The Telegraph reported.
The billionaire controls the investment arm of the telecoms holding company, which also co-owns Virgin Media O2.
Liberty Global is eying a gap in the UK market after industry specialists warned of a looming infrastructure crisis in a booming EV market. Last year, Egg, the EV charging firm, formed a joint venture with Zouk Capital rolling out street charging stations in the UK.
Liberty Global is an American listed company, but has a significant interest in the UK. It is currently the largest shareholder in ITV, the biggest commercial broadcaster in Britain, and also owns major stakes in ALL3Media and Formula 1.
The UK will ban the sale of new gasoline and diesel vehicles from 2030, and Malone seems to have got wind of the impending opportunities. Leading UK manufacturers such as Bentley have also set plans to start producing all-electric vehicles by 2025.
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