Five reasons to adopt EVs into your fleet
Written by: Simon Pavey, Last updated:19th December 2022
If, like many UK business leaders, you’ve noticed the inevitable trend towards electric vehicles, you’re aware of the potential upsides, and you’re looking for the last sign to start moving your fleet from petrol and diesel vehicles to electric, then look no further.
In this article, we’ll take a look at five key reasons why you should consider making the shift to electric vehicles for your fleet.
1. Electric vehicles can help you to cut costs
Whilst EVs may currently have a higher up-front cost than combustion engine vehicles (though this is predicted to change by 2027) there a many ways that the switch to electric vehicles pays off during and after acquisition.
In a push to increase uptake of electric vehicles both for company and personal use, the UK government has a number of grants available to help alleviate some of the costs of introducing electric cars and vans, and the necessary infrastructure to support them.
The Light Commercial Vehicle Plug-in Van Grant, for example, enables you to claim as much as £2,500 toward the purchasing price of a new van that meets the criteria. This grant isn’t one you can apply for and is instead included as a discount by the vehicle seller. You can find out which vehicles are eligible for this grant on the GOV.uk grant page.
The Workplace Charging Scheme is a grant scheme offered by the OZEV, in place to help businesses and organisations with the cost of purchasing and installing charging infrastructure. The Workplace Charging Scheme could reduce the cost of both buying and installing charging points by as much as 75%. You can read more about the workplace charging scheme at the GOV.uk grant page.
After the initial purchasing cost of your electric vehicles, you’ll find that you save money on their upkeep with EVs costing at least 30% less than petrol and diesel cars to service and maintain. This is due to electric cars, vans, and other EVs having fewer moving parts in need of care and replacement as time passes.
Regenerative braking is a great example of how electric vehicles use efficiency to reduce maintenance costs. This efficient breaking model means less wear and tear and fewer repairs.
You can also cut EV costs by taking full advantage of the tax benefits that accompany them. For entirely electric vehicles, you will pay no vehicle tax and for a plug-in hybrid vehicle you will pay between 8 and 12% of the list price, compared to 25% or more for self-charging and petrol/diesel equivalents.
You can read more about company car tax here, where we cover all the details of company car tax from the rates to who is responsible.
2. An EV fleet will cut your emissions
Once your EVs are in motion, your fleet’s carbon footprint will quickly decrease – with electric cars emitting three times less CO2 than equivalent petrol cars. As electric vehicles evolve and we develop increasingly efficient models, this CO2 saving will only increase.
EV battery recycling is also helping to increase the sustainability of these vehicles. The batteries used to power electric cars and vans has a second life even after it can no longer power a vehicle. A great option for powering small space and as energy storage for sustainable power sources like solar panels.
3. Enhance your reputation
Whilst benefiting the business’ bank balance and contributing to cleaner air, introducing electric vehicles to your fleet will also benefit your business’ reputation. Corporate sustainability is increasingly important for reputation and relations; those businesses seen to be committed to sustainable practises and actively investing in them can have a positive impact on client engagement and respect. Not only that, but it sets a standard within your industry, and dedicated efforts in sustainability can show both competitors and customers what is possible.
4. EV range is going up
EV range anxiety is a common reason businesses and individuals are hesitant to invest in electric cars and vans. However, this is nothing more than a common electric vehicle myth.
Today, electric vehicles are offering impressive single-charge ranges, with many new models offering upwards of 200 miles. This number will only increase as the technology evolves; some of the top end electric cars offer 500-mile range on a single charge, something that we will see more affordable models matching in the years to come.
5. EV charge cards from Fuel Card Services
When recharging on the roads, the right EV charge card can help to keep the costs down. If you have introduced EVs to your fleet and are looking for the right charge card, then visit our EV hub. There you’ll find EV charge cards and other useful resources relative to electric fleets.
Unsure what an EV Charge Card is and how it can keep your fleet recharging costs low? You can learn more about them in our Guide to EV Charge Cards.back