For years we have heard phrases like 'Net Zero', 'Cut carbon emissions' and 'Go green', but for businesses this is a potential minefield, especially after having to navigate the COVID19 nightmare for more than a year.
The government made a G7 pledge to cut carbon emissions by 78% by 2035; end the sale of new petrol and diesel cars by 2030 and is asking businesses to exchange polluting vehicles for clean ones. In the current economic climate, businesses are understandably cautious when it comes to new expenditure, electing to safeguard their business survival over investment in green technology. We all appreciate that things need to change, but for businesses it is crucial that change is in line with operational needs, with carefully managed steps towards Net Zero.
LBP has therefore been working with Rivervale Leasing to identify an initial change that could help set a business on the route to Net Zero. Rivervale Leasing has provided the data to calculate the true cost of choosing electric over fossil fuels when considering your next company lease car and the data is surprising!
It is not just the savings you can achieve by charging rather than refuelling, there are also several tax benefits that mean electric vehicles can provide substantial savings when compared to their Internal Combustion Engine (ICE) equivalents. Did you know that by choosing a Tesla over a petrol E Class Mercedes you could save £25K over three years?
Electric vehicle batteries have leapt forward in recent years, now providing around 250 miles per charge on a larger vehicle, taking round 40 minutes to fully recharge at a rapid charging point. The roll-out of public charging points has commenced with garages, supermarkets and Council’s providing this vital infrastructure, along with mobile apps to map the locations and book slots. Alternatively, you can even charge without a charging point being installed, as you can just plug into your mains connection when you get home and by the morning your battery will be replenished, or if it is an option, you could plug in at work.
Rivervale Leasing has provided data to compare a small, mid-range and executive electric car option with their fossil fuel ICE equivalent, to help explain the savings from leasing, fuel, benefit-in-kind payments and charging times.
To view this savings data please click here.
In addition to the savings calculated, electric cars also enjoy:
For more information regarding making your switch to an electric car lease and how to benefit from these savings please click here.