Why Electric Vehicle Investment Is Important For Your Business

If your company is established, you might have been driving your company car(s) for a while now.

Although switching to electric vehicles may not be the first thing that comes to mind for you as a business owner, doing so can result in significant fuel and maintenance cost savings for your firm as well as enhanced compliance with environmental health and sustainable business requirements.

Here, we'll go over the benefits of switching to electric cars for business use as well as some tips on how to use them effectively every day.


Reduced Operating Costs

A mile of driving in a gasoline or diesel car can cost up to 12 pence, yet a mile of driving in an electric car only costs 1 penny.

According to research conducted by carbuyer.co.uk, company vehicles travel 13,200 miles annually on average. Consequently, you might be looking at an annual expenditure of almost £9,500 for a fleet of six standard company vehicles. However, switching to electric would result in an annual fuel cost of less than £800, saving a total of £8,700.

Making the switch to an electric or hybrid vehicle may also result in significant tax savings for your company. While plug-in hybrid electric vehicles pay between £0-105 in the first year (as determined by the quantity of emissions they emit) and £145 in the following years, zero-emission electric vehicles are completely exempt from road tax.

In addition, owners of EVs costing more than £40,000 must pay an additional fee; however, totally zero-emission vehicles are exempt from this requirement. In contrast, the typical road tax for a traditional gasoline or diesel vehicle is £165.

Although the average cost of an electric car's battery is £5,000, this cost is offset by the vehicles' reduced need for fuel, tax deductions from fuel duty, vehicle excise duty, commercial vehicle tax, van and fuel benefit taxes, and lower maintenance expenses.

Since they have fewer moving parts than an internal combustion engine, electric vehicles also require less maintenance and are less likely to require expensive repairs than automobiles powered by gasoline or diesel (ICE).

If the expense of an EV battery worries you, you may also be able to lease the battery, which would allow you to stretch the payments out and stay within your budget.


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Sustainability And Environmental Responsibility

Approximately up to 28% of all carbon dioxide (CO2) emissions in the UK are caused by transportation, which is also the main source of greenhouse gas emissions.

By emitting less CO2 than traditional models, using electric or hybrid vehicles can help businesses accomplish their carbon footprint reduction goals and fulfill their obligations under environmental compliance laws that limit emissions of CO2 and other dangerous gases.

By making the switch to electric vehicles, your company may also fulfill its goals for reducing CO2 and NO2 emissions, comply with government programs like the Energy Savings Opportunities Scheme (ESOS), and avoid financial fines and environmental taxes like the Ultra-Low Emission Zone fees.

Additionally, EV use might help your company establish a reputation as a "green" brand. Many large businesses are now emphasizing their low carbon footprint in an effort to draw clients who are interested in leading more sustainable lives and who patronize environmentally conscientious organizations.


New Revenue Sources

Establishing an electric vehicle charging station on your property could open up a new client and sales channel. Your business can install a charging point for a fraction of the cost by taking advantage of the UK government's up to 75% funding grant for the project.

When the charging station is put in place, you can use it to make money by charging clients' electric cars. Increased sales opportunities may result from clients staying longer in your store or place of business while they wait for their vehicle to charge.


How to Get the Most Out of Your EVs

Having electric vehicles in your company has a lot of potential benefits, but how can your firm make sure you are getting the most out of your EVs? Here is our list of things to think about:


• Locate Applicable Government Grants And Schemes: There are numerous grants and programs available that can help you save money while purchasing, operating, and repairing your electric vehicles. Before purchasing a new car, do extensive research on available vehicles and their eligibility.

• Pick Your Model Wisely: Not all electric cars are completely emission-free! Before you buy, do your research.

• Drive Efficiently: Enforcing efficient driving practices can aid in battery protection and energy conservation. Make sure your staff members are operating their vehicles as efficiently as possible by preserving momentum, avoiding abrupt stops, lowering the speed, minimizing the usage of the air conditioner and heater, and utilizing the vehicle's built-in eco features.

• Staff Training: Workers should receive instruction in standard upkeep for electric vehicles. This helps avoid problems from happening and makes it possible for them to carry out minor maintenance as necessary, allowing your company to save far more money.

• Build A Vehicle Charging Station: Installing a charging point may seem like an upfront expense, but it can save your company money in the long run and may even generate income from customers and staff who need to charge their electric vehicles.

Omamuyovwi Ohwodiasa

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Humphrey Arinze Chukwu 28 w

Nigeria needs electric ⚡️ cars 🚗

Chinecherem Obed 29 w


Ekene Mathias 29 w

Wow that's so cool thanks for sharing

Abiola Issa Mukaila 29 w


Abiola Issa Mukaila 29 w


Eyitoni Omayuku 33 w


Sarah Okocha 33 w


Rosella Eguru 33 w


Chukwuemeka Obiora 33 w

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Uzochukwu Onyemaechi 33 w