The company, which is involved with teams in Formula One and the World Rally Championship, will be able to benefit from the cars’ 49g/km CO2 emissions which allow for a 100% first-year capital allowance and 5% Benefit in Kind tax liability for the three directors.

Managing Director David Joseph, who runs MCT Engineering along with Steven Szmigeilski and Stephen Holbrooke, said: ‘We’ve never had company cars before, so this is new for us. As a company we do a lot with F1 and motorsport so the technology on the PHEVs really interested us. There’s a synergy because if you look at Formula One now they are hybrid, they are using 30% less fuel than last year. It’s the way things are going.

‘What sold it for us is that they just feel like a normal car. A key factor is the petrol costs – we will save a lot of money on petrol and the tax savings are beneficial.’