Fleet News

Lex Autolease funds 1000 EVs through EV1000 scheme

Lex Autolease has discounted 1,000 new electric vehicles through its EV1000 cashback initiative, with more than three quarters (83%) going to fleets.

The £1 million scheme has offered £1,000 cashback against each pure electric vehicle order since January.

Designed to accelerate the uptake of EVs, the EV1000 has successfully generated interest from both business and personal customers, above and beyond the orders that qualified for cashback.

More than 2,200 EVs have been ordered this year, meaning one in 16 EVs on the UK’s roads is a Lex Autolease vehicle.

Richard Jones, managing director of motor finance and leasing at Lloyds Banking Group, said: “As the UK’s leading vehicle leasing provider, we have an important role to play in driving change and in helping fleet drivers be the pioneers of the newest, cleanest vehicle technology. 

“With the regular replacement cycles that come with leasing, fleet drivers are also feeding the second hand market with low and zero-emission models, which is critical for the country to meet its ambitious emissions targets.

“The financial contributions we’ve offered via the EV1000 are one of many whole-life cost benefits drivers can enjoy with the switch to electric. Cheaper fuel, tax and maintenance are also key considerations – and as battery technology and charging infrastructure continue to develop and improve, EVs are an increasingly attractive option for more and more people.”

The leasing company, which finances almost 400,000 cars and vans, told Fleet News that orders for pure electric cars had increased by 123% since the new benefit-in-kind (BIK) tax rates were announced.

More than 1,300 customers have enlisted the help of Lex Autolease this year on their Road to Zero. Well-known companies and organisations who have benefited from the EV1000 scheme include Anglian Water, EON, Cornwall NHS Trust, Bourne Leisure Limited and Mitie.

Lex Autolease estimates the new vehicles will eliminate more than 18,000 tonnes of carbon from roadside emissions and will cover more than 98 million zero-emission miles over the duration of their contracts.

Of the total EVs ordered from Lex Autolease in 2019 to date, 87% per cent are cars and 13% per cent are light commercial vehicles (LCVs). Business contracts account for 83% of orders.

The Jaguar I-Pace range has proved most popular among Lex Autolease customers with nearly 900 orders received in 2019 to date, while the Nissan e-NV200 is the single most popular commercial vehicle with more than 230 orders.

Click here for electric cars and hybrids best practice and procurement insight

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