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The business case for EVs

Are electric cars better for the environment?

In a word, yes.

Pure electric vehicles (EVs) produce zero CO2 emissions; those which are harmful to the environment. There are manufacturing considerations to take into account though, as well as where the electricity that powers them comes from.

The rising popularity of EVs means manufacturing processes are becoming more efficient. Some manufacturers are also creating their EVs with more environmental consideration, vegan interiors are available in some models. The BMW i3 is an excellent example of this; each i3 is up to 85% recyclable, and made from sustainable materials in BMW’s state-of-the-art Leipzig plant in which the production line runs entirely on renewable wind power.

In terms of the emissions associated with the electricity that goes into your car, we’ve also made huge advancements in producing cleaner, renewable energy. The UK barely uses coal anymore, while half of the EU’s energy will be renewable by 2030. This is key for clean air initiatives around the world.

Electric cars are already more sustainable than petrol and diesel with an internal combustion engine (ICE). At the moment, they generate around half the emissions of their ICE counterparts. This figure will only improve in the future as the UK electricity grid decarbonizes further, increasing EV sustainability with each passing year.

The World Health Organisation estimates rising CO2 levels will play a part in 250,000 more deaths a year. With corporate social responsibility such a key issue, getting ahead of the curve with a fleet of electric cars makes great business sense.

The change is already happening. There was 221% more battery electric vehicle (BEV) registrations in 2019 than the year before, and it’s tough to ignore the business case for EVs. So, is it time to future-proof your company?

Tesla model Y electric car in blue
Mercedes-Benz EQS

How much are electric cars?

You may think there’s going to be a high cost associated with giving your business’s reputation such a great boost. Not so. EVs are more affordable than ever, while there are often government grants and other incentives to help bring down the cost.

What about charging on the road?

We’ve found the issue of charging and range is the biggest concern for fleet managers thinking of switching to electric cars. However, battery technology is improving all the time. Today’s EVs are generally able to cover between 150-300 miles on a single charge. The Tesla Model S Long Range can do around 360 ‘real world’ miles per charge.

At the same time, the infrastructure needed to power electric cars is experiencing a boom. Around 4,000 new public charging locations opened in 2019, pushing the total well over 10,000 at the start of 2020 and now in 2022 there are over 30,000 public charging points across the UK. There are now more EV charging points than traditional fuel stations, and many of these are equipped with rapid chargers that can boost your battery from empty to 80% in just 30 minutes.

Our top business electric car lease picks

VolkswagenID.4SUV

Volkswagen ID.4 150kW Life Pro Performance 77kWh 5dr Auto

  • £3,931 Initial rental (inc. VAT)
  • 48 Month term
  • 5000 Annual mileage
  • Subject to status and conditions + arrangement fee
£437 Personal contract hire per month (inc. VAT)
  • £3,276 Initial rental (ex. VAT)
  • 48 Month term
  • 5000 Annual mileage
  • Subject to status and conditions + arrangement fee
£364 Business contract hire per month (ex. VAT)
TeslaModel YSUV

Tesla Model Y Long Range AWD 5dr Auto

  • £4,838 Initial rental (inc. VAT)
  • 48 Month term
  • 5000 Annual mileage
  • Subject to status and conditions + arrangement fee
£538 Personal contract hire per month (inc. VAT)
  • £4,032 Initial rental (ex. VAT)
  • 48 Month term
  • 5000 Annual mileage
  • Subject to status and conditions + arrangement fee
£448 Business contract hire per month (ex. VAT)
BMWi4Saloon

BMW i4 250kW eDrive40 Sport 83.9kWh 5dr Auto

  • £5,281 Initial rental (inc. VAT)
  • 48 Month term
  • 5000 Annual mileage
  • Subject to status and conditions + arrangement fee
£587 Personal contract hire per month (inc. VAT)
  • £4,401 Initial rental (ex. VAT)
  • 48 Month term
  • 5000 Annual mileage
  • Subject to status and conditions + arrangement fee
£489 Business contract hire per month (ex. VAT)
BMW i4 front

Are electric vehicles suitable for company cars?

With hundreds of miles at your disposal on a full charge, as well as huge UK charging point network, there’s no need to worry about range. This applies to people who need to cover large distances every year, as shown by leading last-mile delivery service Gnewt. We helped the company become London’s biggest fully electric delivery fleet, getting it ready for the future in a cleaner, quieter and healthier city.

Sources:

https://www.telegraph.co.uk/connect/small-business/operations-and-logistics/renault/electric-vehicles-to-power-cities/https://www.cleanairpartnership.org/wp-content/uploads/2018/11/CAP-EV-Business-Case.pdfhttps://www.smmt.co.uk/vehicle-data/evs-and-afvs-registrations/https://pod-point.com/guides/driver/olev-granthttps://www.nextgreencar.com/cost-calculators/renault/kangoo-maxi/https://www.statista.com/statistics/673575/charging-locations-electric-vehicles-uk/https://www.electrive.com/2019/08/16/uk-electric-car-charging-stations-surpass-fuel-stations/

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