The prevailing sentiment is that electric vehicles are the future. While this is arguably true, there are lots of opportunities organisations of all sizes can take advantage of right now. With governments around the world, including the UK government, having plans to remove combustion engine vehicles from the road by certain dates, businesses should start thinking proactively about switching to electric vehicles. But should you do so right now or wait? Keep reading to see the reasons why we believe switching your business to electric vehicles soon is the best move.

Reduce Costs

When you are in the market for electric vehicles, you might find that many new models are a lot more costly than they used to be. While this is true for the high-end market, it is not true for the market as a whole.

When you look at the market as a whole, keeping in mind newer models from companies other than Tesla, you will see that there are lots of affordable electric vehicle options in the market. Many of these cars are on par with their combustion engine counterparts in price.

Next, we have to think about the total cost of owning a fleet of vehicles for a business. With an electric car, you pay less for “fuel”, and you can always take advantage of tax benefits and government incentives to further reduce the cost of acquisition.

Maintenance is another area where electric vehicles come out better than combustion engine vehicles. The latter requires regular oil checks, brake replacements and the like. Electric vehicles do not have these issues and when you add that they also have fewer mechanical parts that are less prone to failure, the cost of ownership goes down even further.

While the average cost of an electric vehicle excluding Teslas or trucks has gone down, businesses that are looking for high-end vehicles have to incur these higher costs. To keep costs down, they can consider electric car leasing. Leasing an electric car has become much easier than in past years as leasing companies now have numerous models for businesses and individuals to choose from.

Leasing is also a great way of finding out if an electric vehicle is right for your business. If you need more information on switching or trying out an electric vehicle, ElectriX has amazing guides that tell you everything you need to know about owning one. These include information on charging one, owning one, and finding insurance for it.

Improve Your Organisation’s Reputation

Regulations around environmental concerns are always changing, and businesses have to be at the forefront of ensuring they are compliant. Switching to electric vehicles ensures businesses stay ahead of the curve and reduce the risk of not being compliant as these regulations tighten.

Employees and customers are also focusing a lot more on the environmental impact of the organisations and businesses they choose to work for and buy from. This is especially true for millennials who are becoming dominant in the workforce and make up a sizable chunk of consumer demographics.

Switching to electric vehicles, which we know has environmental benefits, improves an organisation’s reputation by demonstrating that it cares about its impact on the environment. Strong sustainability credentials improve customer loyalty, while also making the organisations seem more appealing to new customers and employees.

Generate Additional Value

Once you have a fleet of electric vehicles, it would be a good idea to install charging stations at your premises. Many businesses view installing electric vehicle charging stations as a cost that they do not have to incur. What you might not realise is that these charging stations can be a source of added value for your business.

It is undeniable that the number of people driving electric vehicles is increasing. Would it not be great for your customers to know they can charge their cars at your premises when they come in for business?

This also applies to employees who would love the convenience of having a charging station available to them when they come into the office in the morning. This additional value created for your customers and employees can benefit your business greatly.

Customer-facing businesses such as leisure companies and retailers can also monetise their EV facilities. If someone is coming in for 15 to 30 minutes, they can get enough charge to get them home or to a designated charging station, and they will appreciate this service even when they have to pay for it.

Additional research shows that people who charge their cars at stores and outside restaurants spend more time at these businesses. This increases the amount spent per customer who charges their vehicle there.

As you can see, installing charging stations is not only beneficial for you and your electric business services but for your employees, customers, and overall business.

Avoid Green Taxes

More cities in the UK are looking to establish Ultra Low Emission Zones like London already has. London has one to improve air quality and the effects of burning fossil fuels for transportation needs. These driving concerns apply everywhere, and we are likely to see governments enact even more regulations to target greenhouse emissions.

Complying with set rules and regulations is not about doing what is best for the environment because we expect the government to also introduce “pollution” taxes. We can expect these taxes to apply to small businesses the way they apply to larger manufacturing plants in various countries.

Switching to electric vehicles can benefit businesses by helping them reduce their nitrous oxide and carbon dioxide emissions; ensure they are exempt from Ultra-Low Emission Zone charges, penalties and other taxes; support better company reporting; and generate revenues as discussed above.

Helping Surrounding Communities

The biggest benefit of switching to electric vehicles is the reduced impact of pollution on the environment. Businesses that switch to electric vehicles improve the health and safety of not only their employees but that of the surrounding communities in the long term.

To increase these benefits, businesses that install smart charging infrastructure on their premises encourage the uptake of electric vehicles for personal use. This amplifies the benefits of switching to electric vehicles in the first place.

Electric vehicles are also quieter than their combustion engine counterparts. If you have fleets of vehicles arriving and departing all the time, the lower noise level will be noticeable.

Improve Employee Satisfaction

Businesses that rely on fleets of vehicles or their operations have to ensure their employees have the best experience while they are on the road. Better route planning that reduces driving times and the risk of breakdown can ease anxiety among drivers which translates into better experiences for them.

A commitment to the reduction of an organisation’s carbon footprint also has a positive impact on employee engagement and an employer’s attractiveness. Both of these lead to improved employee retention, lower commute costs and a better overall workforce. This is because businesses will be able to attract the best candidates who appreciate the business’s commitment to electrifying their fleets.

Switching to electric vehicles requires strategic planning because it is a significant change in any business. However, there are lots of benefits to doing so, including for the business, its employees and everyone else who interacts with the business. With other incentives like tax benefits and avoiding green taxes, we can say switching your business to electric vehicles is worth it.