Considering a Fleet of Electric Vehicles?

Considering a Fleet of Electric Vehicles?

Should you be considering an all-electric fleet as your vehicle leases expire? Apart from the fact that electric vehicles (EVs) are key to reducing pollution and improving air quality in the UK, what other compelling reasons are there for businesses to choose EVs?

Well, the fact is that switching will bring businesses large and small financial, operational and reputational advantages. It will also help them avoid the access restrictions and road charging penalties that polluting vehicles are increasingly going to face. And this, as we’ll see, is a revolution that is already well underway.

Norway has seen sales grow by 40 percent last year and EVs now account for 1 in every 3 new cars sold

Technological Advancements

By 2020 you will have the choice of a new generation of electric vehicles. As the market opens its doors to brand-new electrical specialists who will compete for your attention alongside well-known automotive brands, so you can expect a range of new, ever more efficient vehicles. There will also be the infrastructure to support charging – another former barrier to adoption.

The variety of EVs has already increased and there are now over 120 different models available with more hybrid and pure electric plug-ins than ever. The Mitsubishi Outlander PHEV is the most popular plug-in vehicle, and for fleets this is possibly a more viable option than the Nissan Leaf which is the second. Another great option takes third place in the shape of the BMW 330e. The Nissan E-NV200 is the front runner for vans – with an average range of 108km, 4.2 m3 and able to carry a load of 770kg.

The mileage range on an EV is now around 110 miles, with hybrids offering the option to tap into conventional fuel on longer journeys. Spend a little more and you’ll hit 200 miles plus, and in the near future 300 will be the norm as batteries get better.

Charging points are already increasingly common. Currently there are almost 23.5k across the UK, and BP is now rolling out the Chargemaster with 150kW ultra-rapid chargers on BP forecourts. The move from slow-charging vehicles (7-22kW) that take 6-8 hours will look prehistoric in comparison to these new fast-charge stations which will have you back on the road in minutes. Then there’s power — with up 670bhp in higher models — all delivered by electric engines.

Financial Advantages

The initial costs of installing charge points – either at work and home – and the cost of the vehicles can be rapidly recouped by grants, fuel savings and regenerative technologies like braking systems. This means that the cost per mile on an EV is typically around a third that of a conventional vehicle. Add to this the avoidance of pollution and congestion charges, and the savings start to add up. Indeed, according to the Energy Saving Trust,

’While the initial upfront purchase price of an electric or plug-in hybrid vehicle can be higher, this is offset by lower running costs’

Electric vehicles offer range of savings, including:

  • A full charge in a pure-electric vehicle will give a typical range of over 100 miles and will cost approximately £4 to £6 if charging at home, and £8 to £10 if using public charge points. Driving 100 miles in a petrol or diesel car will cost around £13 to £16 in fuel, which can be two to three times more than the cost of charging the electric car
  • There are fewer mechanical components in an electric vehicle compared with conventional vehicles, which often results in lower servicing, maintenance and even fleet insurance costs as there will be fewer claims costs
  • Pure EVs costing no more than £40,000 have a zero rate of Vehicle Excise Duty
  • Plug-in cars emitting 75g/km CO2 or less are eligible for a 100% discount from the London Congestion Charge. A regular user of this zone could save over £2,000 a year
  • The lower or zero emissions of plug-in vehicles mean that they will attract lower charges from Clean Air Zones being implemented around the UK and the Ultra-Low Emission Zone in London
  • Free parking for electric vehicles is available in some towns and cities.

Like Some More Fleet Insurance Help?

We’re specialists at insuring fleets of EVs at Coversure Kidderminster, and have found that prices vary substantially – that’s why we’ll look for the most cost-effective quotation that suits your circumstances.

You’ll also benefit from a discount when you insure more than one vehicle, and technology such as dashcams, anti-collision, reversing sensors/cameras, and alarm systems can all play a part in reducing your insurance premium.

If you would like to know more about getting the EV cover that’s right for you, then please contact us. You can call the Coversure Kidderminster team on (01562) 822664, email us by clicking here or request a no-obligation quote here .

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