Electric vehicles (EVs) are a crucial player in the fight against climate change, and their integration into employee benefit or salary sacrifice schemes can help accelerate their adoption. With companies becoming increasingly climate conscious, EV salary sacrifice schemes are a great way for businesses to lead the charge in prioritising a sustainable, green future.
An EV salary sacrifice scheme allows employees to give up a portion of their pre-tax salary in exchange for a new EV. It’s a win-win situation – employees get to drive brand new EVs while also reducing their taxable income. Meanwhile, employers contribute to a sustainable future by promoting the use of electric cars.
Our Novalease solution is a great working example of this. Its unique feature is that the car lease is with the employee, not the employer, which gives employees the choice of making the monthly payments through payroll or directly from their bank account.
EV salary sacrifice schemes have a significant environmental impact. Thanks to their zero tailpipe emissions, they reduce air pollution dramatically. This means that you’re actively contributing to cleaner, healthier air in your community by choosing an EV scheme.
They’re also more energy efficient than petrol and diesel cars. They convert over 85% of electrical energy to power at the wheels, compared to just 20% in traditional cars. With the majority of electricity still produced by fossil fuels, this means that electric cars punch far above their weight when it comes to using these resources efficiently.
However, as renewable energy sources become more prevalent and the use of fossil fuels declines, the carbon footprint of charging an EV continues to shrink. This means the environmental benefit of driving an EV increases over time.
Transitioning to EVs through salary sacrifice schemes isn’t just eco-friendly; it’s financially beneficial, too. These schemes allow employees to save on income tax and National Insurance contributions. On top of this, electric vehicles have lower running costs compared to their petrol or diesel counterparts. You can find out more about the business benefits of EV salary sacrifice schemes in this handy article.
At SG Fleet, we take climate change seriously. Recently, we were proud to announce that we’ve achieved carbon-neutral status and have been supporting climate change reduction projects across the globe.
As part of our push to a greener future, alongside Novalease, we offer eStart, our award winning Zero Emission Vehicle Transition Plan. It’s an end-to-end planning solution that helps businesses plan and manage their budgets and vehicle requirements when they switch to ZEV fleets.
If you want to learn more about how we can help you transition, feel free to get in touch with our team.
- SG Fleet Proud to Achieve Carbon Neutral Status
- The Acceleration in EV Adoption
