UK Fuel Crisis – is it time to switch to EVs?
With the UK still recovering from a nationwide fuel crisis and government grants to supplement costs, it’s never been a better time to make the switch to electric vehicles.
Fuel crisis leads to more searches for EVs
It is too early to tell what impact the recent fuel crisis in the UK has had on actual EV sales, searches for electric vehicles have spiked over the last two weeks. Drivers are seeking viable alternatives to relying on petrol and diesel, and EVs are rapidly gaining popularity. In fact, sales of EVs recently took over sales of diesel cars in Europe.
Businesses in particular can enjoy tax incentives for using EVs in their commercial fleet and company cars with the First Year Allowance Scheme.
Here are some further benefits you can expect from switching to EVs:
Fighting air pollution & carbon emissions
This is the most obvious reason – electric cars produce no exhaust fumes, and do not contribute to climate change and air pollution. ICE (internal combustion engine) vehicles contribute to poor air quality in many ways.
Exhaust fumes contain:
- carbon dioxide, thought to contribute towards climate change
- carbon monoxide, nitrogen oxide & sulphur dioxide which contribute to smog,
- benzene, which is carcinogenic
- particulate matter which can be harmful to people’s respiratory systems as well as forests, wildlife and coastal regions.
Imagine how clean our air would be if vehicles didn’t constantly emit these pollutants.
Global shift towards renewable energy
Based on the huge issues caused by the pollutants described above, the UK government has pledged to ban the sale of new petrol and diesel vehicles by 2030. Even new HGVs that use fossil fuels will be banned by 2040. Thus, new ICE vehicles will simply not be available to buy and used ICE cars will become more expensive over time. October 2020 saw renewable energy become cheaper than fossil fuels for the first time ever, and these kinds of trends are predicted to continue.
Cheaper in the long run
There is still some stigma about EVs, although this is based on old-fashioned attitudes and myths. You might think EVs are too costly, but really they can save you a lot of money over time. Once your have bought the car, you can look forward to saving on:
- Maintenance. EVs have less moving parts than ICE vehicles and don’t wear out so quickly. EVs also use regenerative braking, meaning less wear and tear on the brakes.
- Fuel costs. Of course you won’t be filling up at a petrol station, instead charging the car’s battery at charging points. This costs (on average) less than a quarter of the cost per mile than a car running on fuel.
- Tax and congestion charges. Vehicle tax is now based on carbon emissions, which will be zero with an EV. Congestion charges in big cities are also not applicable to electric vehicles.
Less dependent on fossil fuels
We all know that fossil fuels are not an inexhaustible resource – in fact, it is estimated that we will run out of oil as soon as 2052. Not all countries have their own oil supply, so most are dependent on imports from other countries. This is subject to politics and international relations, so oil shortages and incredibly high prices could easily be a reality before the earth is actually out of oil. Even when we have oil, infrastructure problems and labour shortages can lead to problems – this is what lead to the current fuel crisis.
Government incentives
You can claim up to £2500 off the cost of a new EV through a government incentive scheme, this is all dealt with by the car dealership too so no extra paperwork or effort is required. Another government scheme helps with the cost of installing an EV charging point at your home, so you can easily charge your car while it is parked on your drive. Businesses can also claim these incentives towards company vehicles and commercial fleets, and claim a 100% deduction for tax purposes on the First Year Allowance scheme.
In fact, if you are based in Hull, East Anglia or Worcestershire, you can claim up to 80% off the cost of new electric vehicles for your business with a combination of local grants. Business all over the UK can also take advantage of the HMRC Super Deduction Scheme which can save an additional 24.7%.
Future proof
With fuel costs rising, carbon emissions contributing to climate change, fossil fuel depletion and ICE vehicles not being manufactured any more, the logical step is to choose an electric vehicle. There are so many different EVs being made right now, from cars and vans to larger lorries, motorbikes and mopeds, that buyers are spoilt for choice and a variety of business needs can be covered.
If you are interested in switching to EVs for your commercial fleet and employee vehicles, contact the VOLLT team today on info@vollt.io or call 0303 300 1006.
Are you ready to implement an EV ecosystem?
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