Finance and Costs

Summary Company car tax, officially known as Benefit in Kind Tax (BiK), is calculated based on the P11D value of the vehicle, its CO 2  tailpipe emissions and the employee’s income tax band. The BiK tax rate is set by HM Treasury and usually collected through your PAYE (pay-as-you-earn). You can make considerable savings by choosing a low or zero emissi …

This guide provides an overview of the different business models available for electric vehicle charging and costs to be aware of. Summary There are a range of business models that can be applied to electric vehicle charging points, each suited to a different business objective. They include: Loss leader model; offer free charging to attract drivers. Co …

Summary Company car tax, officially known as Benefit in Kind Tax (BiK), is calculated based on the P11D value of the vehicle, its CO 2  tailpipe emissions and the employee’s income tax band. The BiK tax rate is set by HM Treasury and usually collected through your PAYE (pay-as-you-earn). You can make considerable savings by choosing a low or zero e …

Summary The cost to charge an electric car in the UK varies between home, work and public charging. For a typical electric car with a 60kWh battery and ~200 mile range: Charging at home: Costs about £15.10 for a full charge. * Charging at work: Many employers will install workplace charging points and typically offer free access throughout the day. Char …

Summary Electric drive trains have far fewer moving parts than internal combustion engines (ICE), meaning that electric car service costs are much lower when compared to ICE vehicles. Despite that, they do still require some regular maintenance that incurs cost, such as: Tyres and brakes Windscreens, wiper blades and washer fluid Battery repair or replacement (rare!) General wear and tear Electric drive trains are simpler, so EVs require less maintenance How difficult a machine is to maintain is usually directly proportional to its number of moving parts. The number of moving parts in an electric drivetrain is vastly lower than in an internal combustion engine and therefore maintenance is much easier. But there is also no metal on metal wear in the same way as, for example, a clutch system. Of course, plug-in hybrid maintenance is more like conventional car maintenance, as they still have conventional components like exhausts, clutches, gear boxes etc. We focus this guide on maintaining the pure electric cars. Tip: The maintenance costs for an EV will vary significantly by make and model of the vehicle. As such, this guide gives you pointers on how and where to find the outline costs of a maintenance item, rather than specifics. Battery repair/replacement Though manufacturers tend to offer compelling warranties (e.g. 8 year from Jaguar, Nissan, Renault and Tesla) on the longevity of EV batteries, battery degradation has been a big worry for many about electric cars. In particular the fear that replacing the battery will be necessary and expensive. While different car manufacturers are experiencing slightly varying results, overall evidence from the real world is that the rate of decay is much less than feared – and some manufacturers are now expecting their batteries to outlast the rest of the vehicle. Below’s crowd-sourced data on Tesla’s battery degradation shows ~7% degradation after an incredible 250,000 miles. Though it is rare, should you notice a significant depreciation in the range of your battery, it is possible that the battery pack is experiencing some undue decay. With most pure electric cars on the road today still in warranty, the first task is to contact the […]

Summary Road tax, officially known as Vehicle Excise Duty (VED), is calculated based on the CO 2  tailpipe emissions of your vehicle, its list price and which year it was registered in. Pure battery electric vehicles (BEVs) are exempt from VED. Plug-in hybrid electric vehicles (PHEVs) pay reduced VED. Any vehicle (excluding BEVs) with a list price of £40 …