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EV Transition

For numerous reasons, it’s a good idea for fleets to go green but how do you go about it?

We can assist you in what’s often a very complicated process.

It was recently reported by the Society of Motoring Manufacturers and Traders (SMMT) that in 2021, one in five buyers switched to electric and the new car CO2 average reached a record low of -11.2%. This is a major step forward, but a further leap is required in order to meet the government’s net zero target.

Aside from the obvious moral and ethical imperatives to ‘going green’, the government has also made available cash and tax incentives for EV drivers in the lead up to the 2030 deadline for banning the sale of new petrol and diesel vehicles and the 2035 deadline for new hybrid vehicle sales.

The Journey Starts Now

Do your homework
It really pays to thoroughly research and understand your organisation’s needs and objectives, including your grey fleet.

Who is the vehicle for?
Who will be driving the vehicle and is it fit-for-purpose? How accessible is home charging? Does the driver live in an urban or rural area? Do they take long or short distance drives? We at Marshall Leasing have teamed up with charging equipment providers, Pod Point and BP Chargemaster who will assist in ensuring that the house or work location is able to facilitate charging points.

There is a process to go through. So make sure that you do your due diligence before you place an order.

The benefits of going greener

BIK rates for purely electric vehicles (EVs) have been set at 2% for the current tax year, 2022/23, and will remain at this rate for the next two tax years (2023/24 and 2024/25). Adding to this, zero emission cars will also continue to be exempt from vehicle excise duty (VED) until March 2025 – a date which could potentially be extended even further.

Other current cost benefits include the government’s plug-in car grant - which extends up to £1,500 to support the purchase of a new plug-in car – as well as the pure convenience and cost effectiveness of switching from fossil fuels to electric power. Greening your fleet could help to reduce its carbon footprint and potentially, therefore, the cost of company car ownership.

The halo effect of going greener shouldn’t be underestimated. With the move towards sustainability gaining widespread traction, companies that take steps in this direction will benefit from customer loyalty and gain a critical competitive advantage. This also chimes well with an organisational move towards improved Environmental, Social and Corporate Governance (ESG).

Other things to consider

Range
Range anxiety is a real thing. Huge investments are being made in this area and as technology improves, so too does the distance which electric vehicles can travel on a single charge.

Adding to the fleet
If you lease an electric vehicle or an electric hybrid vehicle for an employee who subsequently then leaves your company will that vehicle be easily reallocated?

Experience and expertise
Going fully green might not be a viable option at present, especially if you have many Light Commercial Vehicles (LCVs) in your fleet. We understand that fleet managers are busy people with their attention often diverted elsewhere. The situation is constantly evolving.

The halo effect of going greener should not be underestimated

(Credit: Go Ultra Low)

Overcoming caution and embracing change
If you are interested in ‘greening your fleet’ it is important to be aware of the changes required. EV charging infrastructure is one of the most principal considerations that you will need to address.

The electric vehicle revolution is already underway.
Are you ready to join?

Please contact us today...

Marshall Leasing is a trading division of N.I.I.B. Group Ltd a company registered in Northern Ireland under company NI3721, whose registered office is situated at 1 Donegal Square South, BELFAST, BT1 5LR. N.I.I.B. Group Limited is authorised and regulated by the Financial Conduct Authority