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Lex Autolease announces £1million fund to encourage EV adoption

Date: 11 September 2018   |   Author: Sean Keywood

Lex Autolease will offer a £1,000 contribution towards the cost of the first 1,000 pure electric vehicles (EVs) it leases from 2019.

The leasing company says the contributions, from a £1million fund, will help double the size of its EV fleet.

It says it will help customers achieve 25 million zero emission miles over the next five years.

It also says an additional 1,000 EVs could represent an 8% increase in the total number registered next year. 

The fund is available to both business and personal customers.

Managing director Tim Porter said: "In July, the government set out its ambition for at least half of new vehicles to be ultra-low emission by 2030.

"Our announcement today highlights our commitment to supporting this ambition and the role we, as the UK's leading vehicle leasing provider, can play in helping to make it happen.

"As battery technology and the range of EVs improves, they are fast becoming suitable for mainstream motorists - meaning more road users can take advantage of their low running costs." 

Porter said that, with the EV market still relatively new and evolving quickly, a key benefit of leasing an EV was that customers would avoid any potential risks around future resale values.  

He added: "As the global automotive industry goes through this transformative period, the leasing industry has a huge role to play.  

"We have been working with customers for a number of years to help them upgrade to low emission vehicles - where it's the right move for them as individual drivers or fleets.  

"We're ideally placed to provide the guidance and support that drivers and fleets need in order to make this important transition."