Hundreds of companies sign up for Electric Vehicle Salary Sacrifice., Electric Vehicle News Bitesize
Hundreds of companies sign up for Electric Vehicle Salary Sacrifice., Electric Vehicle News Bitesize

Hundreds of companies sign up for Electric Vehicle Salary Sacrifice scheme. Subscribe to Electric Vehicle News Bitesize Podcast for FREE!

Octopus Electric Vehicles reports that just over a year after its launch, it has reached a milestone with more than 1,500 companies joining its Salary Sacrifice scheme.

The programme is the next step in the company’s mission to help businesses reduce their carbon footprint and drive the UK’s transition to zero-emission transport.

Since launching to the market, it has grown by 22% on average each month, with companies of different sizes and sectors joining the scheme, including household names such as McLaren, Dyson, RES and Nando’s.

To meet growing demand, Octopus Electric Vehicles has also significantly expanded its team, hiring 126 new staff last year across its London and Weybridge offices.

Fiona Howarth, CEO of Octopus Electric Vehicles, said: “It’s great to see so many companies looking to take a leadership role in helping employees discover the benefits of the shift.

“Launching a salary sacrifice scheme saves their employees money, letting them drive great cars, while cleaning up the local air in their communities and helping the planet.”

Octopus Electric Vehicles offers businesses more than 65 models to choose from, with an average range of 215 miles on a single charge.

The package includes service and maintenance, AA’s roadside assistance and free charging stations at home or 5,000-mile on the public charging network.

Octopus also offers electric vehicle driver energy tariffs for those charging at home.

Rebecca Constable, director, people experience, at McLaren Racing, said: “We’re delighted to be using the Octopus Electric Vehicles salary sacrifice scheme. McLaren fully supports the UK’s transition towards zero emission transport and we’re passionate about doing our bit to help.

“This is a fantastic benefit that our employees love and aligns with our internal goals to become a more sustainable business.”

Octopus Electric Vehicles was founded in 2018 with a mission: to make it easier for drivers to switch to clean electric vehicles.

The company is part of the broader Octopus Energy Group, which is rapidly expanding after raising $900 million in funding last year at a valuation of about $5 billion.

New research from fleet insurer Direct Line shows that more than two-thirds of SMEs are considering offering electric vehicles to their employees through a salary sacrifice scheme, with more than half planning to do so in the next 12 months.

Half of SMEs believe all companies should offer a Salary Sacrifice program to their employees and state it is part of their company’s responsibility to reduce their carbon footprint, while 37% believe it is irresponsible not to provide it.

Just 13% of SMEs currently offer an Electric Vehicle Salary Sacrifice scheme.

Nicola Richmond, head of Churchill Expert Flexible Fleet Partnerships, said: “Our research shows there is tremendous appetite for this scheme.

“As everyone looks to do their bit for the planet and reduce their own carbon footprint, it’s great to see companies also taking their contribution seriously.

“While availability for the scheme at the moment is low, it’s encouraging to see that companies believe it is part of their responsibility to implement it in the next year.

“Recently company benefit packages have been forefront of mind, so the introduction of such initiatives can only have a positive effect on how current and potential employees view an organisation.”

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Hundreds of companies sign up for Electric Vehicle Salary Sacrifice., Electric Vehicle News Bitesize
Subscribe to Electric Vehicle News Bitesize Podcast for FREE!