Why go electric?
Why go electric?
- Great to drive – combining the latest in new technologies with a high performance drive, there’s no compromise to driving electric
- Tax incentives – electric and hybrid vehicles enjoy tax benefits including Benefit In Kind (company car tax), road tax and congestion charges
- Environmental – low emissions mean that electric vehicles are great for any business wishing to reduce their carbon footprint
- 4p per mile* – the cost to fuel an electric vehicle
- 13,700 – the number of public charger connectors in the UK and growing
- 2,500 – the number of public rapid charger connectors in the UK and growing
- 20 – 30 minutes – the time to power a car to 80% with a rapid charger
The average small petrol car emits 120 g/km CO2 from its tailpipe whereas electric cars emit none, reducing pollution where we live and work, improving our quality of life and health.
As vehicle manufacturers work towards meeting their EU emission targets, technologies currently classed as alternatives will become mainstream. What won’t change is the need to ensure that the vehicle selected can deliver against your business and personal objectives across its full operational life.
Electric vehicles can cost from just £4 per 100 miles* to run, depending on the electricity tariff and time of day the vehicle is charging. This can result in a significant saving on fuel bills when compared with petrol and diesel cars which typically cost around £6.50 to £11.50 per 100 miles.
Plug-in hybrid vehicles can provide significant savings by using electricity power where short trips are most common but longer range is also required. With rapid chargers at most motorway service stations, electric power can now also be used on longer journeys, keeping costs and emissions down.
Electric vehicles emitting zero tailpipe emissions are currently exempt from road tax. Plug-in hybrids and hybrid vehicles have lower CO2 emissions than their petrol and diesel counterparts and as a result fall into the lower Vehicle Excise Duty tax bands. For all technology types premium models priced over £40,000 will incur an extra charge.
Employers who are providing these vehicles to company car drivers will also benefit from paying lower Class 1a National Insurance contributions compared to the petrol or diesel equivalents. The drivers will also profit as they will pay lower benefit in kind company car tax rates as both these costs are calculated using the official CO2 figures.
Many models are also exempt from congestion and emission charges which could be costing up to £21.50 per day.
* Based on research from August 2017 conducted by Arval UK Limited using 12p per kWh.