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As many as 435,000 small and medium-sized enterprises (SMEs) could each save up to £1,440 a year with their first electric vehicle, according to research by Go Ultra Low.
The joint industry and government campaign, which encourages drivers and businesses to consider electric vehicles, says whole-life cost figures from Lex Autolease show that the higher initial cost of plug-in vehicles can be more than offset by significant fuel savings, tax benefits, and a potential 70% reduction in service, maintenance and repair costs, which cumulatively could deliver £625 million in savings for UK businesses.
Speaking at Go Ultra Low's summit on 'Preparing for your electric vehicle future', campaign head Poppy Welch said: "Cost savings are a top priority for companies of all sizes.
"So, fleet operators from both SMEs and large companies that look beyond a vehicle's initial purchase price or monthly rental stand to save their companies thousands of pounds every year.
"Electric vehicles can return significant operational savings - just one electric car or van could save SMEs up to £1,440 annually.
"With an ever-increasing number of plug-in models now available, it's even easier for businesses to identify an ultra-low emission vehicle that suits their needs."
Go Ultra Low says a survey of SMEs it commissioned for the summit found that many businesses were not aware of potential savings, with only 35% considering the whole-life cost of a vehicle.
Despite this, 67% said they would consider 100% electric and plug-in hybrid vehicles with lower whole-life costs than petrol and diesel equivalents.
The summit was attended by more than 70 fleet decision-makers, and included a keynote speech by Claire Perry, Minister of State, Department for Business, Energy and Industrial Strategy.
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