As the UK accelerates towards a greener future, the adoption of electric vehicles (EVs) is becoming increasingly important.
The UK government has set a two-phase approach to end the sale of new petrol and diesel vehicles:
- By 2030: The sale of new petrol and diesel cars and vans will be banned.
- By 2035: All new cars and vans must be fully zero-emission at the tailpipe. This includes electric vehicles and hydrogen fuel cell vehicles.
Our Electric Car Savings Calculator is designed to provide an estimate of the potential savings you can enjoy by switching from traditional petrol or diesel vehicles to electric vehicles.
Calculate your potential fuel savings by going electric
Current Annual Cost Calculation
Your New EV Car
Example EV Car Electricity Tariffs Home (Domestic)*:
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*These prices can vary depending on location, your home EV charger tariff, specific retailers and your use of public charging facilities which will be more expensive than your home tariff.
The average miles per kilowatt-hour (mi/kWh) for electric vehicles typically ranges from around 1.50 to 3.00 mi/kWh.
Why Electric Vehicles Are the Smart Choice for Company Car Owners?
One of the most significant advantages of EVs is their lower Benefit in Kind (BIK) rates. As of the 2024/25 tax year, the BIK rate for electric cars is set at just 2%. This rate will gradually increase by 1% each year, reaching 5% by the 2027/28 tax year. In contrast, petrol and diesel vehicles typically have much higher BIK rates due to their higher CO2 emissions.
An employee driving a petrol or diesel company car with a BIK rate of 25% would pay significantly more in taxes compared to an employee driving an EV with a BIK rate of 2%. These savings can make a considerable difference in an employee’s take-home pay.
EV Car vs Petrol Car
In addition to tax savings, EVs generally have lower running costs compared to petrol and diesel vehicles. Electricity is cheaper than petrol or diesel, and EVs have fewer moving parts, resulting in lower maintenance costs.