The EV leasing company, Octopus Electric Vehicles, has reportedly hit a milestone of more than 1,500 companies joining its salary sacrifice scheme in just over a year since its launch.
Part of the Octopus Energy Group, the salary sacrifice scheme for electric cars provides an all-in-one service for drivers looking to make the switch to EVs and help businesses reduce their carbon footprint. Since its launch, the scheme has grown by 22% on average every month with companies of different sizes and sectors joining the scheme, including household names such as McLaren, Dyson and Nando’s.
“We’re delighted to be using the Octopus Electric Vehicles salary sacrifice scheme,” said Rebecca Constable, Director, People Experience, McLaren Racing. “This is a fantastic benefit that our employees love and aligns with our internal goals to become a more sustainable business.”
An EV salary sacrifice scheme aims to encourage employees of a business to go electric while providing visible commitment by the employer to reduce local air pollution. Employers can offer their staff the use of a new electric car with savings of 30% or more by paying through their gross salary, saving thousands of pounds on both national insurance and income tax.
Due to the favourable tax rates, salary sacrifice on an EV works out cheaper than a personal lease of a petrol or diesel car.
“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,” said Fiona Howarth, CEO, Octopus Electric Vehicles.
The company has created over 125 new jobs over the past year to manage the growing demand for its scheme.
“2021 was a tipping point for EVs, and now the switch to electric transport is really accelerating,” Howarth added. “We’re delighted to be helping our clients and their employees as they make the switch.”