Empowering Electric Vehicle Usage in the Workplace

By
IntelligentHQ

The world is currently witnessing an important shift towards electric vehicles, a trend mostly driven by increasing concerns about the impact of climate change and the quest for a more sustainable mode of transport. While more people seem to accept the need to embrace eco-friendly transport, adopting them at a transformative pace is what organisations seem to struggle with the most.

While transitioning fully to EVs may seem like a hefty task, it’s an ideal strategy that can create numerous benefits for businesses in the long run. 

Empowering Electric Vehicle Usage in the Workplace

The Easiest & Most Affordable Ways to Offer EVs to Employees

There are several options that can help achieve this goal in the most convenient and cost-effective ways.

Salary Sacrifice Schemes

Sacrifice schemes, like the programme developed by loveelectric.cars, are a simple and popular way for companies to encourage their employees to get behind the wheel of an electric vehicle. A salary sacrifice scheme for electric vehicles allows an employee to give up a portion of their pre-tax salary in order to pay for the monthly lease cost of an electric vehicle, through their employer. 

For employees, this option offers an opportunity to benefit from a tax cut as well as minimise fuel and maintenance costs, all of which would make owning an EV much more convenient and affordable. Employers, on the other hand, get to reduce their Scope 3 emissions. Plus, it’s totally cost-neutral for businesses to implement.

Corporate Car-Sharing Programmes

A corporate car-sharing programme for EVs may represent a relatively inexpensive way to facilitate employee access to electric vehicles without forcing them to be EV owners. In this case, the company manages a pool of shared EVs that employees can reserve and hire for work or personal use. Depending on their needs and capabilities, companies can cooperate with third-party car-sharing providers or establish their own car-sharing programmes.

Employee Discount Programmes

The third option is to establish an employee discount programme with EV manufacturers or sellers. By leveraging their collective buying power, companies can secure advantageous pricing and incentives for their employees interested in purchasing or leasing an EV. This option allows employees to acquire more affordable EVs and contributes to sustainable transportation alternatives.

Lease or Rent for Business Use

For businesses that need a fleet of vehicles regularly, leasing or renting EVs is a viable option to consider. Several automakers and rental companies are currently offering a variety of EVs, making it easier for companies to transition to cleaner mobility solutions without paying massive upfront costs. This option can also help companies save money on fuel and maintenance in the long term.

Workplace EV Subscription Services

EV subscription services allow you to collaborate with a third-party provider of electric mobility solutions that have a fleet of EVs that users can book and use when needed. Employees can reserve an EV through a smartphone app, platform, or online system. Then, they find a designated parking lot on the company’s grounds, usually close to the entrance. Employees can conveniently book an EV through a mobile app or online platform, picking up the vehicle from a designated location on the company premises or nearby.

Advantages of Switching to EVs for Businesses

Switching to electric vehicles in the UK comes with a slew of advantages for businesses that extend well beyond the environmental benefits. Among the greatest are the substantial declines in running expenses associated with combustion engine vehicles. 

Due to the fact that electric-powered motors cost less per mile travelled than gasoline or diesel-powered vehicles, EVs are a cost-effective alternative for companies. Especially for companies that run a large number of vehicles or drive vast amounts of miles. Reducing running expenses improves bottom-line profits and enhances a business’s general financial health, enabling you to reinvest more resources in growth and development efforts.

Moreover, the UK government’s proactive measure to support businesses’ acquisition of EVs through multiple tax benefits makes the move even more attractive. The possibilities of a 100% capital allowance and minimised benefit-in-kind (BIK) taxes for employing an electric vehicle for company purposes enable significant savings and better cash flow for companies of any size.

EV owners are not required to pay road tax, vehicle excise duty, or congestion charges for their vehicles, which reduces the total cost of ownership. Moreover, the reduced maintenance costs and related downtimes make investment in EVs more appealing. 

With all of these benefits, it’s easy to understand why people are embracing electric vehicles in business. It’s not just an environmentally conscious choice – but also a strategic move – saving money and reducing tax liabilities.

Conclusion

Enabling the use of EVs in the workplace is a sustainable shift that comes with numerous benefits for businesses, their employees, and the environment. Notably, as the world moves towards sustainable and electric transport, early adopters will benefit most from this promising transition. The only way to benefit from the trends is by being a part of them. Explore the solutions offered by companies such as loveelectric.cars to make your own business part of this transition.

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