What are the financial benefits of electric cars?
Following the news that VW is looking to explore making electric cars in China, it seems as though every manufacturer is looking to get in on the act. This can only be a good thing. So, we thought we’d take a little time to remind you all of the benefits driving an EV actually offers.
Electric cars offer a range of financial, performance and environmental benefits. The advantages of electric cars can be enjoyed by drivers as well as businesses who provide charging for their employees and customers.
We’ve worked with POD Point, one of Europe’s biggest charging point manufacturers to compile this short top five list. So, for those thinking of making the purchase, read on:
It saves you money to run: Save up to £1,000 a year in fuel savings by driving electric, as it costs as little as 2p per mile.
You get government investment: When you choose an electric car, you can get up to £4,500 off the cost of the car with the Plug-in Car Grant. You can also get up to £500 off the cost of a home charging point & installation with the OLEV Grant.
Low maintenance: There’s less to go wrong than with traditional fossil fuel vehicles. In fact, EVs have around a 50% lower cost of maintenance
Great performance: As well as being cheaper to run, electric cars are environmentally friendly with zero tailpipe emissions. Electric cars also benefit from instant torque for superior performance and acceleration, all with no engine noise for less stressful driving.
Zero emissions: The obvious one – you’re no longer contributing to air pollution. In fact, by driving an EV, you’re helping to reduce it.
Benefit in kind: Businesses can also benefit. Employees can take advantage of the low running costs of plug-in cars, but other benefits include reduced tax and an increased capital allowance up to 100% of vehicle cost.
Customer retention: As more drivers realise the benefits of electric cars, your business can attract and retain new customers by providing electric vehicle charging points. Installing charging points can increase customer dwell time, Improve your sustainability rating and create a new revenue stream.