Businesses should be turning to Electric Vehicles and BEE Anglia can help you
Today we bring you a guest blog post from Anthony Havers, one of our BEE Anglia advisors, who discusses how more companies should be adopting electric vehicles and how they can get a grant to help with the cost.
We are on the verge of a transport revolution. The electric vehicle (EV) is arguably the most exciting and disruptive technology being developed in the transport sector and we are living in a unique time which will enable us to maximise the benefit.
Transport accounts for roughly a quarter of UK’s greenhouse gas emissions and this has a significant effect on our towns and cities. To counter this, cities are charging more for polluting vehicles to access city centres and UK is set to ban the sale of petrol and diesel only cars by 2040.
It is often thought that EVs are new and a reaction to legislation; although the urgency in development may be a reaction, EVs are not new with the first models developed in the early 1800’s.
However the modern EV is lighter, with lower battery costs and an ever increasing range (the latest Audi E-Tron has a range of between 200-300 miles). In addition the image of EVs has been transformed, they are now seen as aspirational with all major manufacturers showcasing their EV models.
To illustrate growth in the first half of 2014 an average of 500 electric cars were registered per month, this had increased to almost 4000 per month in 2017 and the national grid is predicting nine million EVs on the road by 2030.
Introducing EVs to your company
The case for businesses to convert their fleet to electric models is becoming increasingly compelling - key advantages being that EVs:
• Demonstrate that the business is forward thinking and environmentally aware to customers
• Have lower running costs, such as reduced servicing costs
• Have no Vehicle Excise Duty
• Are 100% discount from the London Congestion Charge
• Give low employer National Insurance contributions (and associated lower company car tax for employees)
• 100% First Year Capital Allowance for purchasing an EV, this allows the whole cost of the purchase to be offset against taxable profits in the first year
• Have no fuel duty payable on electricity.
Through BEE Anglia , small businesses in Suffolk & Norfolk can access grant funding for up to 28% of the cost of a new vehicle.
Whilst some may see EVs as disruptive technology, arguably, converting from ICE (internal combustion engine) to electric is not that revolutionary. However, the engine is only half the story, the disruption is in the associated technologies.
Through vehicle to grid developments, we could all be driving power stations. Our vehicle will help power our home when the national grid has insufficient supply to meet demand.
We actually might not be driving at all, with cars becoming increasingly autonomous, car ownership will be redundant as we can order a vehicle through an app whenever we need to travel.
It is a really exciting sector and if you are interested in obtaining more information, please contact the BEE Anglia team here or call 01473 350370.