It’s time to look at the pluses and minuses of electric vehicles (EVs) for business and commercial use.
We’ve talked about using EVs for effective fleet cars – large or small – so what can tip a decision in favour of EVs over regular cars?
There are loads of new financing incentives available (ours is probably one of the most simple and efficient), so isn’t it time more firms switched onto the eco-friendly track?
Let’s look at the pluses first.
They’ve not always been a glamourous option – that’s until Tesla came in and changed the world. Now, there’s some really tasty models to choose from, with a wide range of price tags.
Yes, they are quite expensive to buy initially, but the more miles you clock up the better the viability. With running costs at circa 4p per mile – there are massive cost savings to be had over the lifetime of ownership. In business, most cars travel, on average, many more miles than private ownership, so the costs flatten out over time.
With less moving parts, it’s a no-brainer to see that costs for service will be far cheaper. Most batteries can last 100,000 miles before they need replacing, so as a fleet owner it makes sense to factor this into any contract. That said, battery tech has taken massive steps forward and will continue to mature over the coming years.
Corporate Social Responsibility (CSR)
It’s a big deal to be perceived as green and using EVs will shine some light on businesses’ eco credentials. Most firms who run EVs make a big song and dance about it in their social media (and in larger businesses in their annual R&A).
We believe that most people are conscious of their carbon footprint and this is a good way for them to contribute to reducing it. EVs have a certain coolness to them now and driving one as a company car will be something to impress their mates down the pub.
Now the minuses
Doing long trips in an EV can be an issue. That said, if you plan your journey it can be very straightforward (We’ve got a video blog coming out in a few weeks to prove the point). Battery tech is constantly moving ahead, but we easily achieve 150 miles from our Nissan Leaf on a single charge (without careful driving!).
The costs for an EV are higher at the outset. But there’s all sorts of incentives from government grants to car maker’s deals. We’ve created our own method for financing your EV, so that it flattens out the cost of ownership – you pay a fixed cost and you drive away – nice and simple.
The current thinking is that at around 100,000 miles an EV battery will become inefficient at holding its charge. When this happens it’s time to change it. This could well define how we own and use EVs – certainly in the short term. Running an EV from 50-90,000 miles could well be the sweet spot for business users – initial cost of purchase vs running cost vs battery replacement.
There’s definitely some compelling reasons for switching to electric, so if you’re keen to discover more about the efficiencies and the perks of EVs in your business, please get in touch (we love EVs and will be glad to help in any way we can).