Is hiring an electric company car right for my business?

Thinking about having electric company cars for your business? In this article we will explain whether it’s the right choice for you and which cars to go for.

The EV transition in the UK is slowly underway. As more EVs are seen on our roads, drivers are inching towards electric cars. Not only for personal use but also as a company car. 

At present time the Government is acting as a catalyst in this change by pumping money into the charging infrastructure. A total of twelve eco-driven projects are set to receive almost £40 million to fund improvements. These include the likes of solar-powered forecourts and underground charging systems. The aim behind this funding is to encourage the uptake of electric vehicles in what seems to be their ongoing infancy in the UK. 

Drivers concerns regarding the switch typically stem from the cost and availability of charging points. This barrier to switching suggests that hiring could be the better option for electric vehicles in the upcoming years.

What considerations should businesses make when choosing an EV? Is hiring one right for me?

Garry Tinkler, General Manager of EVision Electric Vehicle Hire has spoken about the considerations small businesses should make when choosing and hiring electric company cars. Along with the benefits that having one (or more) can bring to your business. 

A key thing to consider is how you’re aiming to use the vehicle. You need to understand the mileage that the EV will need to cover on a regular basis to aid your decision. The average mileage that cars do per year is around 13,500. This works out at 260 miles per week on average. Working on this basis, a larger EV makes sense as long as you’re doing that kind of mileage. A lot of smaller EV ranges sit around the 200-mile mark on a single charge. In comparison larger EVs such as the Tesla Model 3 Long Range offer 320 miles before the need to recharge.

There are numerous financial savings that your business can benefit from when hiring an electric company car. Not only on the electric vehicle company car tax but as well as the ‘fuel’ itself. Overall charging an EV costs around 20% of what you would typically spend on fuel.

Where to charge?

Other considerations that coincide with mile range is the availability of chargers. As mentioned the UK charging infrastructure is undergoing a mass expansion. If it will be a car that employees are going to use in and out of work, it may be a wise decision to make sure that they can charge at home. When hiring any EV from EVision we offer a free charge point to be installed at either their place of work or residence. This is subject to the length of the hire. 

Servicing and additional costs

Electric cars are ‘simpler’ than standard internal combustion engines (ICE) vehicles. You’ve got lower servicing and maintenance costs than usual. Not to mention, that if you’re going in and out of London then you’re exempt from the Congestion Charge and Ultra Low Emission Zone (ULEZ). You’ll be saving yourself around £200 a month on just the congestion charge alone. As more clean air zones pop up, electric company cars make a lot more sense for employees going in and out of those areas. With all this said, the cost to initially buy the vehicle can be high. This is due to their advanced technology, safety features and benefits.

Does that mean it’s better to hire than buy an electric car for my business?

It could be as the technology of EVs moves at a fast pace and further developments are announced each day, whether it is in new coming cars or over the air updates. As batteries and technology are getting better, cars are upgraded more often. At least if you’re hiring rather than buying, you don’t have to worry about the depreciation value of the car. 

Hiring is becoming an increasingly popular and intelligent way of procuring electric company cars. At EVision we offer special discounts for long term hire making it much cheaper to finance an electric company car. If you are looking to hire multiple cars for your business then you’d be happy to know that our fleet customers enjoy a further discount on multi-car hires. Not to mention, that if you are an account customer you will benefit from paying no deposit when hiring. We also offer our long term hirers greater flexibility, with the option to upgrade or downgrade cars twice during the hire period.

What benefits does hiring an electric company car have for business?

It depends on the business, if it’s one that’s customer-facing and based in a city centre then there’s a lot of benefit from them. For example, from the corporate social responsibility (CSR) side, you can show that your business is doing something to help the environment. As always there is a lot of stigma surrounding urban pollution from vehicles. Who can forget the most important factor? Your employees will love driving them. The performance of EVs is instant compared to the lag you get with ICE vehicles. They’ll also be a lot more relaxed coming out of an electric vehicle. Driving one is almost therapeutic as the car that makes no noise.

Which EVs are ideal for hiring as company cars?

Over the coming months and years there’ll be many more pure electric vehicles coming onto the market. 

Before we set off, here are a couple of definitions to help you out. The original test for electric vehicles is the New European Driving Cycle (NEDC). This is gradually being replaced with the Worldwide Harmonised Light Vehicle Test Procedure (WLTP). These mark out how certain standards of the car will be measured. Such as, the average mileage on a full charge and average speed. The charging times listed for each EV are based on household mains plugs. Charging times will be different, depending on the power and connector type. So, let’s take a look at what EVision currently has to offer on our fleet…

The Renault Zoe

Our Renault ZOE’s prove very popular here at EVision. When you hire a Renault ZOE you will be getting a small but mighty EV that is a perfect choice for a company car. Having won the What Car? Car of the Year award for 7 years running. As well as being named ‘Small Electric Car Winner’, our Renault ZOE is a top choice for your electric company car!

Mile range: 160 miles

Charging time for household mains charger: 18 hours

Charging time for 22kW charger: 2 hours

0-60mph acceleration rate: 11.4 Seconds

Top speed: 84mph

Seats: 5

The BMW i3

Our BMW i3 is the best choice for a commuters vehicle. Designed with sustainability, exceptional looks, outstanding handling, driving dynamics and battery performance in mind. The zippy BMW i3 is a class-leading EV. It will make the perfect choice for your electric company car if you do any town or city driving. 

Mile range: from 130 miles (dependant on model)

Charging time for household mains charger: 19 hours 

Charging time for 22kW charger: 4 hours

0-60mph acceleration rate: 7.7 Seconds

Top speed: 93mph

Seats: 4

Kia e-Niro

Our Kia e-Niro is the first fully electric car manufactured by the brand. Offering an exceptional amount of boot space as well as a stylish yet comfortable interior. I think you can agree that this EV is perfect for long and short business trips. Here at EVision, we can honestly say that the e-Niro will not disappoint if it is your choice for an electric company car.  

Mile range: 250 miles 

Charging time for household mains charger: 29 hours 

Charging time for 22kW charger: 10 hours

0-60mph acceleration rate: 7.5 Seconds

Top speed: 104mph

Seats: 5

Audi e-tron

Our Audi e-tron is the perfect fully electric, 5-door SUV. This luxury EV is designed with great attention to both detail and functionality. Features include; lane departure warning, Pre-sense Front and Basic, and a rear-view camera as standard.

Mile range: 205 miles 

Charging time for household mains charger: 42 hours

Charging time for 22kW charger: 9 hours

0-60mph acceleration rate: 5.7 Seconds

Top speed: 124mph

Seats: 5

Jaguar I-Pace

Our Jaguar I-Pace is the perfect all rounded EV and would make a great electric company car. Ideal for short trips visiting businesses, plus the longer business trips with colleagues.

Mile range: 240 miles 

Charging time for household mains charger: 39 hours 

Charging time for 22kW charger: 13 hours

0-60mph acceleration rate: 4.5 Seconds

Top speed: 125mph

Seats: 5

Tesla Model 3

One of our newest editions is the well loved Tesla Model 3. Designed for high performance, with dual motor AWD, quick acceleration and long driving range. The Tesla Model 3 is minimalistic yet futuristic and packed with the latest EV technology. Here at EVision we offer the choice of a Standard or Long Range model, in which we are sure that neither will disappoint!

Mile range: from 220 miles (dependant on model)

Charging time for household mains charger: from 24 hours (dependant on model)

Charging time for 22kW charger: from 7 hours (dependant on model)

0-60mph acceleration rate: 5.3 Seconds

Top speed: 140mph

Seats: 5

Tesla Model S

Here at EVision, we have a wide variety of models to choose from. Tesla’s Model S is the car that revolutionised the future of electric cars. Designed with high class interior and futuristic computerised controls. These assets certainly don’t compromise the EVs performance either. The Model S, is a popular choice with our clients for their fleet of electric company cars.

Mile range: from 208 miles (dependant on model)

Charging time for household mains charger: from 33 hours (dependant on model)

Charging time for 22kW charger: from 6 hours (dependant on model)

0-60mph acceleration rate: from 5.4 Seconds (dependant on model)

Top speed: from 130mph (dependant on model)

Seats: 5 and 7 (dependant on model)

Tesla Model X

Lastly is our Model X, the first SUV from electric car giant Tesla. Built for efficiency, with standard all-wheel drive, falcon wing doors and uncompromised seating for up to seven. The fully electric Model X combines style, performance and safety with real-world practicality. Making it a great company car choice for any employee!

Mile range: from 190 miles (dependant on model)

Charging time for household mains charger: from 33 hours (dependant on model)

Charging time for 22kW charger: from 6 hours (dependant on model)

0-60mph acceleration rate: from 6 Seconds (dependant on model)

Top speed: from 130mph (dependant on model)

Seats: 7 

0% Benefit in Kind tax for electric company cars

We briefly touched on this topic earlier. Since you’re considering hiring an electric company car, we’d like to let you know about the huge savings that can be made. 

As of April 6th, 2020 you can drive a fully electric company car at zero cost? Yes, that’s right, you didn’t read it wrong, we said ZERO cost! This is due to the change of the Benefit in Kind (BiK). As of this date, BiK for electric vehicles will drop to 0%. Meaning that there can be a significant amount of savings to be made. 

Find out more information by watching our YouTube video.

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