Why you should consider electric cars for your business
Until quite recently, electric cars were seen as something of a punchline amongst car enthusiasts. They were seen as underpowered and undesirable and were seldom considered by serious business. The tides have turned in recent years, however, as potential mileage has increased and electric cars have become more and more desirable, thanks to the success of brands like Tesla.
Introducing electric cars into your organisation if no longer simply about putting a green face on the company - there are many other benefits to plugging in too!
Tax - The tax benefits you’ll receive for switching your business fleet to electric cars is almost worth the move alone and in 2020 those tax breaks are set to get even better. Indeed, there will be zero tax on BIK in 2020 and 2021. For individual owners, meanwhile, you can deduct the entire first year of your capital allowances. As road tax is also now based on carbon emissions, electric car owners also have to pay significantly less road tax. Indeed, if the car was registered before March 2017, the first year of road tax is completely free!
Business grants - Currently, businesses can claim cup to 35% off the cost of a brand new electric car and up to 20% off the cost of a new electric van.
Congestion free - For London-based businesses, the congestion zone can be a bane on drivers, costing £11.50 a day during certain peak times. Electric cars, however, are completely exempt from this tax, so if your business is based within one of these zones, it seems like a no-brainer.
Running costs - Electricity costs roughly 3.9p a mile, whereas, for fuel, it can be three times that amount or more depending on the car and the engine. Those are some pretty incredible savings that will add up the more electric vehicles you add to the fleet. If you choose to charge the cars at work then you’ll make even more savings. As an electric car owner, you will have access to a myriad of EV apps too! Check out Car Sloth's article where they have tried and tested some of the best ones
The green face - If your business is taking a stand and switching to electric then you are one of the few organisations standing in the face of a monumental climate crisis. With a millennial audience increasingly concerned about the environment, having a fleet of electric vehicles at your disposal in place of the typical gas-guzzles will give you plenty of green points and will really help your brand image.
Whilst electric cars are an environmental and financial godsend for any business, they are still cars and cars can fail if they’ve been treated poorly. That’s why you should always ensure a comprehensive HPI check is made on every new vehicle you bring into your business. Keep on top of that and you might have a very bright, green future ahead.
