According to Go Ultra Low, a joint government and industry campaign that aims to increase the use of electric vehicles, businesses should focus on the cost savings that electric cars offer rather than the upfront purchase costs.
Figures released reveal that company car drivers could save around £7,376 by switching to a 100% electric car. This figure, calculated by comparing average electric and diesel models, includes a Benefit in Kind (BIK) rate saving of £3,974 in addition to an average £3,842 fuel saving over a typical three-year cycle of company car ownership.
Cost calculators on the Go Ultra Low website enable motorists and fleet managers to make informed decisions when it comes to making changes to their fleet. The tools allow them to compare the costs of new petrol and diesel engine cars with plug-in hybrid and 100% electric cars.
Government grants and incentives offer further cost savings for businesses with up to £4,500 off the on the road price of a pure electric car, £2,500 for a plug-in hybrid and up to £8,000 off the price of an electric van. Grants are also available for the installation of charging points at the workplace and company car drivers are eligible to sign-up to the electric vehicle homecharge scheme which offers up to £500 off the cost of installing a home charging point.
On the road, drivers of plug-in electric cars are exempt from paying the London Congestion Charge and a number of UK towns and cities offer free parking for electric cars.
Many questions remain regarding electric vehicles and their viability for business, but the cost savings are worth considering when a company is looking to update their fleet.
Click here for the full press release from Go Ultra Low.