Driving an electric vehicle (EV) can sometimes be a big change for anybody but when your income is dependent on it, it’s a whole different story. While having an all-electric company car may be easy for some, others may be worried about the changing options. How often do you have to charge an electric vehicle? And for how long does it charge? How much will it cost?
Keep reading to find out!
An introduction to electric company cars
You may have heard of others switching to electric company cars, or maybe you’re just curious. One thing is for sure – employers and customers are being mindful of their carbon footprint. For businesses, that means switching to eco-friendly alternative ways of operating. Whereas, consumers are cautious of who they’re buying from and investing in.
In order to meet the net-zero emissions targets by 2050, a lot of companies will be looking to switch out their gas-guzzlers for greener, electric vehicles. As well as the social responsibility demands, businesses could be facing additional costs to keep gas-powered vehicles.
For example, in October 2021 the Ultra Low Emissions Zone (ULEZ) will come into place in London. A daily rate will be charged for any vehicle that does not meet the latest emission standards. Meanwhile, other Clean Air Zones (CAZ) have been introduced in Bath and will be introduced in Birmingham, Leeds and Oxford later in 2021.
Benefits of having an electric company car
So other than avoiding those charges, what benefits come with having an electric company car? All company cars are taxed based on a percentage based on the car’s CO2 emissions. When driving an electric car, you’ll avoid the extra tax charges! Instead, you’ll pay only 1% in 2021/22. This will rise to a minimal 2% for the 2022/23 tax year.
The cost of running an electric car is also significantly cheaper than petrol or diesel cars. EVs cost roughly 2-3p per mile whereas, a typical diesel company car could cost you between 9-12p per mile – up to four times more. Servicing an electric car is also much cheaper. With fewer moving parts, servicing and repair is less than half of what you would spend on a petrol or diesel car on average.
If you decide to lease an electric car for your company, there are more bonuses! Whilst electric cars are still generally more expensive to purchase than their fuel alternatives, residual values are increasing all the time. Residual value is the projected value of the vehicle at the end of it’s leasing contract. This makes leasing deals competitive against standard cars. This is made even more attractive as you can offset 100% of your lease against taxable profits for an electric car.
How often do I need to charge my electric car?
How often you will need to charge your electric car will depend largely on which EV you drive and how far you travel. However, recent research from Hyundai suggests that British motorists could only need to charge an electric car once every three weeks. Yep, that’s right! That works out to charging your car only 20 times in the whole year.
As we said, this will vary depending on how far you’re travelling in a single day or week. During the research, Hyundai found that 85% of EV drivers are worried about running out of battery and having nowhere to charge. Despite this, drivers on average only travelled 108 miles per week. This is just over a third of the real-world range offered on vehicles such as the Kia e-Niro, Volkswagen ID.3 and Polestar 2.
Many electric cars are capable of travelling well over 200 miles before needing to be charged. Some such as the Tesla Model 3, Kia EV6 and newly announced Audi Q4 can go 300 miles or more. Ultimately, the further you travel for work, the more often you’ll need to charge your EV.
Where can I charge my electric vehicle?
This is probably one of the most asked questions for anyone considering an electric car. If you’re using an electric company car, it’s crucial you can get to where you need to be. Thankfully, charging an electric car is becoming easier and easier. Plus, it’s all in your hands!
If you own your own company, you might want to consider having a home charger installed. This way you’ll be able to charge your vehicle overnight whenever you need to. It’s the most common way of charging – and the cheapest!
Whereas, if you’ll be driving your EV into your workplace everyday, why not consider charging there? Did you know that the Government is now funding up 75% of installation costs for EV workplace chargers? All employers can apply here to access their funding. If your workplace does have charging facilities then you’re set! You can set your EV up to charge while you work, and it won’t cost you a penny!
Lease an electric company car from EVision
If you want to access all the benefits of having an electric company car, then you’re in the right place! We’re EVision Electric Vehicles and we have over 300 different all-electric cars and vans for you to lease today. Plus all of our EVs come with:
- Breakdown, maintenance, servicing and tyre wear included
- Free charging cables
- Free charge point for all hires over 12 months
- 150 miles a day OR 10,000 miles pro rata
- World class support and service from our EV experts
What are you waiting for? Lease an electric car for your company today! Check out our full range, here.
* All information correct as of 18/10/2021.