Electric Company Cars: The Whole Truth

Let’s be honest; running a car, a van, or a fleet of either is getting more expensive in 2024’s Britain.

Additionally, the government plans to end the sale of all petrol and diesel engines by 2035 which you might think is a while away. It isn’t, scarily.

Electric cars, though…

• Do they really run that long?
• Can they be trusted for long hauls?
• Will an electric van cost me less than a tried and trusted diesel?

Yes. They do. They can, They will.

With AstraZeneca, Centrica, Royal Mail and more committing to fully electric fleets by 2030, are you ready to do the same?

TrustFord’s Electric Van and Vehicle leasing deals make switching over easy and affordable, with incredible service offerings and multiple choices for companies of all sizes.

But before we get into the nitty gritty of how, let’s explore why EVs will be the best decision for your business.

Petrol and diesel are expensive. You already knew that, but it’s worth reiterating here. Yesss found that switching to an EV saves drivers between £524 and £624 per year per car.

Our electric Ford Transit Custom E-320v starts at £431 p/m on a lease. The diesel-powered Transit 280, which has a similar payload, starts at £270 p/m. Sure, the upfront outlay is higher at first glance, but there’s no ongoing fuel price.

The more your fleet is in use, the more fuel you buy. Not the same with an EV. Something your bookkeeper will love.

Beyond the fuel, EVs have fewer parts to maintain and don’t need oil changes. Less goes wrong, so less time is spent at the mechanic.

So, cheaper to run, less parts to fix. Now, let’s talk about incentives.

As the government has net-zero targets to hit, there’s a fair amount of help on hand for you.

Like:

Congestion Charge Exemptions:

Driving into London can cost up to £15 a day on congestion charges. It’s not much cheaper in Liverpool or Glasgow, either. EVs are spared from these fees entirely. Until Christmas 2025 that is, when the Cleaner Vehicle Discount ends. Own an EV? Enjoy that free cruising while you can.

Capital Allowance:

Buying an electric company car is an asset which fully deducts its cost from your profits in the purchase year (for tax purposes). If your business loses money instead, this deduction carries over to reduce taxes in future profitable years.

 VAT Benefits

A business can recover VAT on new electric cars if the cars are only used for business purposes, not personal ones, as stipulated by HMRC. This depends on your business being registered for VAT of course.

To successfully get VAT back on a business vehicle, your company has to prove the vehicle is only used for business. This involves sharing the correct documents, such as employee contracts, that specify its use.

Workplace Charging Scheme (EV charging for businesses )

The Workplace Charging Scheme supports organisations in installing up to 40 charge point sockets at their place of work. The scheme covers up to 75% of the total purchasing and installation cost of EV charge points.

See the government’s Office for Zero Emission Vehicles site for more on grants and guidance.

Petrol prices vary by area because of the weather and global supply chains. They can change daily. Pricing fluctuations make planning hugely challenging, not to mention stressful, especially if you have an extensive fleet.

EVs can help you avoid unexpected price changes.

Sure, the cost of charging your EVs relies on the changes in the electricity supply market, but still costs pennies compared to the pounds of filling up.

Electric power lets you plan your finances more accurately and avoid nasty price surprises.

If you’re self-employed, or your company car is parked at home after work, then charging your car at home means getting familiar with domestic EV tariffs.

Some of these tariffs even allow for smart charging, where your car or charging station communicates with your energy provider to charge your car when electricity prices are the lowest. Typically, overnight.

You don't usually need to inform your energy provider when you buy an electric vehicle unless you're opting for a specific EV tariff. If you do, you must check with your provider to find the right plan for your vehicle and charging setup.

EV tariffs often cost less than regular energy plans because they offer cheaper rates during off-peak hours, which can mean big savings over time.

These plans save you money by charging your car during cheaper off-peak hours and often use renewable energy sources like wind and solar.

As of early 2025, the UK boasts nearly 75,000 charging points across over 38,000 locations. And it’s only going to get bigger.

You’ll also need to get used to the quirk of remembering to plug in when parked, and if you’re driving long distances, then a little forward thinking is needed.

Luckily, with thousands of fast-charge ports and with the Transit E-Custom boasting a targeted range of 163-209 miles*, range anxiety is a thing of the past.

Leasing is a major way to monitor and manage your fleet spending.

Putting all the incentives listed so far aside for the moment, let’s consider just the cost of a lease plus the price of two full tanks. Of course, your monthly cost per vehicle depends on your loads and distances. But not having to pay for a fuel can and will save you thousands of pounds a year

Electric vehicles emit 200 grams of CO₂ per mile, while petrol cars emit 350 grams. This is a huge difference, as the average car drives between 200,000 and 300,000 miles in its lifetime.

Swapping one petrol vehicle for an electric one has a significant impact. If you have a whole fleet, the benefit multiplies. And should help you to off-set your carbon footprints.

Most people generally want to know that the company they’re working with has the environment in mind.

Plus, your company vehicles are a free mobile branding opportunity. Electric ones are an immediate green flag to the savvy consumer. Especially when they’re stuck behind your van on the M6!

Making your employees (and investors) happy 

A greener brand image goes beyond customers; employees also prefer greener companies. EVs can be a fantastic way to show potential employees you care, another opportunity to attract recruits.

It’s also an opportunity for new investment. A good investor knows an environmentally aware company offers all sorts of incentives, so switching your old fleet to an electric one may open that door.

Your business may have set a net-zero goal. Electric vehicles are a great way to meet it.

"Based on full charge of All-New E-Transit Custom Van Trend 320 L1H1 65kWh100 with speed limited to 80mph. Target range applies to an available configuration (and is based on CAE modelling using WLTP test procedure). Figures shown are for comparability purposes and should only be compared with other vehicles tested to the same technical procedures. Actual range varies with conditions such as external elements like temperature, driving behaviours, route profile, vehicle maintenance, and lithium-ion battery age and condition. 209-mile WLTP Overall Range reflects a combined driving cycle and 163-mile WLTP Extra High range reflects motorway driving – both tests are conducted in controlled conditions with an ambient temperature of 23 degrees Celsius and no climate or electrical load."