This company facilitates electric and hybrid vehicle adoption through an employer-sponsored salary sacrifice program. Employees save significantly on vehicle costs by deducting payments from their gross salary before income tax and National Insurance are calculated. The service provides all-inclusive packages, best market pricing, and complete employer protection against early termination risks.
Funding
$13.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many employees find electric vehicles unaffordable due to high upfront costs, limiting their access to sustainable transportation options. Companies seeking to enhance their sustainability initiatives often struggle to provide cost-effective employee benefits that support environmental goals.
Solution
The Electric Car Scheme provides a salary sacrifice program that enables employees to lease electric vehicles while saving 30-60% through pre-tax salary deductions. This initiative allows companies to offer a cost-neutral employee benefit that promotes the adoption of electric cars and supports their sustainability objectives. The scheme offers complete risk protection for employers, safeguarding them from unexpected costs associated with early termination of the lease. Employees can choose from a wide range of new and used electric vehicles and can also salary sacrifice EV charging costs, saving 20-50% on charging at home, in public, or at work.
Target Audience
The primary audience includes UK-based companies looking to offer sustainable employee benefits and employees interested in accessing affordable electric vehicle leasing options through salary sacrifice.
Features
- Salary sacrifice arrangement allowing employees to pay for electric vehicle leases from pre-tax income, reducing income tax and national insurance contributions
- Access to a wide selection of new and used electric vehicles with quick delivery options
- Complete Risk Protection for employers, covering costs associated with employee departures or other unforeseen circumstances
- Integration with The Charge Scheme, enabling employees to salary sacrifice EV charging costs and save 20-50% on charging
- Compatibility with all EV charging providers, including home, public, and workplace charging solutions
- User-friendly reporting tools for HR and finance teams to easily manage the scheme
- Access to a salary sacrifice calculator to estimate potential savings