12.3 C
Monday, June 17, 2024

Zero-Emission Targets Drive Lancashire Businesses Towards Electric Fleet Revolution

The UK’s push towards zero-emission targets is a catalyst for businesses in Lancashire and across the country, redefining their vehicle fleets for a sustainable future.

July 2023 stormed the record books as UK businesses spurred a flurry of electric vehicle sales, with a new battery electric vehicle (BEV) registered every 60 seconds. Firmly in the driver’s seat of this industry milestone, fleet and business registrations constituted nearly 60% of all new car registrations. This surge paints a clear picture: businesses are leading the electric vehicle revolution, with their transition to electric fleets now taking centre stage in the race to meet the UK’s stringent zero-emission targets.

2024 will usher in a pivotal shift for UK businesses as the government’s zero-emission vehicle mandate stipulates that BEVs must account for 22% of all car sales. This drastic shift signals a turning tide for traditional petrol and diesel-powered fleets, now seen as not just financial burdens due to spiralling maintenance costs and unpredictable fuel prices but also sustainability laggards that clash with a company’s green ethos and social responsibility. The government’s groundbreaking initiative is the final bell for traditional fleets, making a clarion call to businesses for a sweeping reevaluation.

High maintenance, fluctuating fuel costs, and stringent emission regulations – once a norm for traditional fleets – now spell out a financial headache for businesses. But with the UK government’s bold zero-emission vehicle mandate looming, companies are seeing the writing on the wall. The switch to electric is no longer a ‘nice to have,’ but a ‘must-have.’ 

The financial appeal is undeniable. EV charging, significantly cheaper than fuelling up at the pump, coupled with enticing government incentives, puts companies on a cost-neutral ground, making switching to electric a financially savvy move. Beyond the balance sheet, there’s the brand. The growing preference for ‘green’ among customers and employees puts companies squarely in a corner. Go electric, or risk falling out of favour. 

As the cost of living in the UK continues to rise, the government’s incentives provide a silver lining for these businesses’ employees. The secret weapon is the incredibly low Benefit in Kind (BiK) rate for EVs, made available through a salary sacrifice scheme. This savvy financial strategy translates to savings up to 60% on new electric cars, circumventing the initial sticker shock typically associated with EVs. 

Amid the variety of electric vehicles available through EV salary sacrifice, Tesla has emerged as a favoured choice for many employees, with an increase in Tesla leasing. Alongside the low Benefit in Kind rate, employees also save on Income Tax and National Insurance contributions, meaning more people than ever before can afford such a safe and desirable new car. 

As the zero-emission vehicle mandate looms, Lancashire businesses and the rest of the UK are driving towards an electric future. If the current momentum continues, the dominance of electric fleets on UK roads might be closer than we think, leading us to a cleaner, more sustainable future.



Scott Dylan on AI’s Future: Ethical Challenges and Real-World Impact

Scott Dylan discusses the ethical aspects and transformative potential...

US Open 2024: DeChambeau beats McIlroy with golf ‘shot of life’

Bryson DeChambeau said he had hit "the shot of...

Five effective PR strategies for care home providers revealed

In the competitive social care landscape, care home providers...

Best Horse Racing Betting Apps In The UK – June 2024

If you are looking for the top horse racing...

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

Benefits of a fire alarm system

Whether for your business or at home, having a...

Scott Dylan Explores M&A Landscape in 2024

Is post-Brexit UK influencing mergers and acquisitions, or are...

College sustainability expert helps homeless charity save thousands on energy costs 

Nelson and Colne College’s sustainability expert has teamed up...

Discover Why The Pirate Queen: A Forgotten Legend is the VR Game You Can’t Miss

The Pirate Queen: A Forgotten Legend, starring Lucy Liu,...

More News

Green light for Northstone’s energy-efficient homes in Wigan

Homebuilder Northstone’s plans for a 113-home community in Atherton have been given the green light by Wigan Council. The development is an important early phase...

Call for Nominees in Energy Efficiency from AMD Design Award 2023

AMD will accept submissions from CG artists, media artists, and students until October 15. This year’s contest highlights key environmental concerns such as ecology...

IT Firm Commits to NHS Cost Savings and Carbon Emission Reduction by Repairing Staff Mobile Phones

Multimessage, an IT company, has recently secured a government tender to provide mobile phone repair services for public sector organizations. This initiative enables NHS...