World EV Day™️ is a worldwide celebration of sustainable e-mobility and the decarbonisation of transport. It is held on 9th September every year, with 2024 bringing the fifth year of World EV Day. But it’s fair to say that here at Xcite Salary Sacrifice, every day is world EV day!
What is an EV?
EV is the abbreviation commonly used for a vehicle that is powered by an electric motor rather than an internal combustion engine; an electric vehicle. An EV’s rechargeable electric battery can be charged via an electric charging point and it therefore doesn’t require fuel.
Some vehicles are fully electric,while others, known as hybrids, combine an electric motor with a combustion engine. Hybrids are a step towards greater environmental benefits but do not generally achieve the same reduction in emissions that fully electric vehicles do.
What is World EV Day?
World EV Day is a day when people, groups and even countries discuss and action ways to drive change together, raising awareness of the benefits of electric vehicles.
Why Are EVs So Important?
The Government has announced a ban on the sale of new petrol and diesel cars from 2035 due to their emissions. Electric cars have zero tailpipe emissions. This means there is no exhaust emitting CO2, NOx or particulates.
Those wanting to buy or lease new cars won’t have any choice but to go electric following the ban. Transport accounts for 27% of our country’s total emissions, therefore electric cars are a key component in helping the UK limit the global temperature rise below 2 degrees, as part of the Paris Agreement.
Using an electric car is fast becoming easier than ever, through an extensive public charging infrastructure, with more powerful chargers installed every month across the country.
How is Xcite Salary Sacrifice Involved in World EV Day?
Here at Xcite Salary Sacrifice we only lease electric vehicles and plug-in hybrids (PHEVs) that meet the emission criteria for better tax breaks for employees and their employers. We want to make the move to electric motoring leasing as easy as possible, not least because the cost of purchasing an electric vehicle puts it out of the reach of many.
We don’t think affordability should prevent you from being able to reap the economical and environmental benefits of driving an electric vehicle. This is why we recently launched our website, dedicated to supplying electric vehicles to businesses, through salary sacrifice. Salary sacrifice schemes are one of the most affordable ways to get a brand new electric vehicle. Depending on the exact model and deal you choose, salary sacrifice tends to be between 30% and 60% cheaper than other finance methods.
How Does Salary Sacrifice Work?
Salary sacrifice is when you exchange a portion of your salary for a benefit from your employer, in this case, the use of an electric car. Here at Xcite Salary Sacrifice we help companies offer their employees a car as a salary sacrifice benefit.
What are the Benefits of Salary Sacrifice Schemes?
Both employers and employees benefit from an electric car salary sacrifice scheme. Benefits to employers include paying less in salary and employers’ National Insurance (NI) contributions, while benefits to employees include driving a brand new vehicle with maintenance included, and saving on Tax and National Insurance.