Electric Company Car Benefits
Electric cars have become increasingly more popular over the years, with more and more businesses introducing them into their company car fleets, with more than two thirds of electric cars being registered to businesses on UK roads (EDF Energy).
Looking to gain a deeper insight into your EV fleet? Read our blog that discusses why telematics is essential for electric vehicles: 7 reasons why telematics are crucial for electrical fleets.
The technology has come a long way, with a range of electric vehicles to choose from, whether its a plug-in electric, a plug-in hybrid or a hybrid-electric and according to Fleet Point, 1 in 5 motorists are planning to go to an all-electric car in the future. Having a company car fleet, whether it is large or small, can come with a hefty price tag for a business, with the additions of fuel costs, insurance and maintenance of the vehicles. These factors are likely to increase as the years go on also.
Therefore we have outlined the benefits of having an electric company car below:
1. Cheaper to run
Although purchasing electric cars costs more than a standard car, having electric company cars will massively reduce the amount spent in fuel costs, and you'll never have to visit a petrol station again. You will actually save time as well.
2. Environmentally friendly
Introducing electric vehicles into your fleet is good for Corporate Social Responsibility, and creates a good brand image for your business, by showcasing that your business is environmentally friendly and you care about the emissions that go into the atmosphere.
3. Cheaper in tax
In order to increase the uptake of electric vehicles within businesses, from April 2020, company car drivers who drive electric vehicles will pay zero Benefit In Kind Tax. (This Is Money)
4. Lighter to drive
Electric vehicles accelerate faster than other fuel engines, therefore meaning that the vehicles are lighter to drive and more comfortable for those short or long business journeys that you or your employees undertake.
5. Exempt from congestion charge
Electric vehicles that produce zero emissions are exempt from paying congestion charges in congestion zones. The current congestion charge in London costs £11.50 per day, per vehicle between the hours of 07:00 am and 18:00 pm, Monday to Friday. To find out more about avoiding congestion charges, click here.
6. Savings in service maintenance costs
Due to electric cars consisting of fewer parts and components than a traditional vehicle, companies can see a reduction of 23% in maintenance costs. (EDF Energy) This therefore means less downtime of vehicles, compared to traditional vehicles. Research commissioned by Northgate UK shows that businesses are collectively losing £2.4 billion per year due to vans not being operational. Industry estimates for fleet downtime costs can exceed £700 a day in lost productivity in addition to the actual vehicle repair costs. (Fleet news 2015)