In a recent survey we found that whilst almost a third of fleet operators are considering making the switch to EV, over 60% are yet to establish a business case for doing so despite the incentives and generous cost savings available. With fleet operators facing the need to reduce operating costs, Electric Vehicles present a timely consideration for Fleet Managers with the promise of reduced running, maintenance and class 1A NIC costs compared to an ICE alternative. In addition, 100% of the lease costs can be offset against taxable profits.
Government grants1 of up to £3,000 to buy an electric car under £50,000.
£350 home grant3 for plug-in hybrids and fully electric vehicles.
Reduced car tax (VED rates and Benefit in Kind).
Less frequent servicing than a combustion car.
Travel for 6p per mile, compared to 19p on a combustion vehicle2.
No tailpipe emissions = much kinder to the environment.
1. The Government grants are subject to full terms and conditions and eligibility may be revised or withdrawn at any time without prior notice. This information is correct as of March 2020.
2. Calculation based on e-tron 55 with an electric range of up to 250 miles (WLTP cycle) vs Q7 S line 50 TDI quattro tiptronic 286PS with a combined 33.2 mpg (WLTP consumption). Average price of Diesel 129.6p/litre as of Dec 2019
3. In March 2020 the Office for Low Emission Vehicles (OLEV) announced that the Electric Vehicle Homecharge scheme (EVHS) would continue until 2021 and that the level of grant for EVHS is to be set at £350 (previously £500). The new rate is applicable to installations on or after 1st April 2020. The Government grants are subject to full terms and conditions and eligibility may be revised or withdrawn at any time without prior notice. This information is correct as of March 2020.
EVs enable your drivers to access considerable savings in BiK (see chart below) as well as private fuel costs versus an ICE vehicle. The ID.3 is a smooth and responsive drive with a range in excess of 200 miles, which means the ID.3 can travel far and wide on a single charge. This, in conjunction with ever-decreasing charge times, means electric motoring is now an accessible option for even more drivers.
Find out everything there is to know about keeping an EV fleet fully charged. Including installing charging stations.
Need EV leasing advice tailored to your exact needs? We’ve developed tools and guides like our EV Funding Matrix to help you make the right choice for your business.
We’re the fastest growing leasing company in the UK and have an exclusive partnership with Volkswagen Passenger Cars enabling us to offer our customers an exclusive package of support across the ID. Range.
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