LeasePlan UK is further expanding its range of electric vehicle funding solutions as its new research shows fleets are looking for more flexibility.

The majority (81%) of fleets think having a flexible fleet vehicle leasing option would help their organisation to handle unpredictable changes

A study of 502 fleet managers carried out by the leasing giant revealed a number of perceived barriers to fleet electrification, including a lack of flexibility with fleets’ current ICE vehicle lease contracts. More than a fifth (21%) said their inability to switch was a barrier to adoption.

Given the current ongoing Covid-19 pandemic and considering over half (53%) of fleet managers stated that their fleet would increase in the next 12 months, the majority (81%) think having a flexible fleet vehicle leasing option would help their organisation to handle unpredictable changes.

To tackle the flexibility issue and give fleet managers greater confidence and assurance in their decision making, LeasePlan UK is offering support through its existing LeasePlan Flexible product, as well as two new products: LeasePlan Confident and EV Switch, the latter of which will launch early 2021.

LeasePlan Flexible allows customers to hire vehicles for an indefinite period (between three months and two years) to allow temporary management of fluctuations in fleet size without long-term commitments; EV Switch enables commercial vehicle customers to take a lease for three years or more, but with the opportunity to switch out after 24 months with no early termination penalty if replacement EVs are ordered for lease; and LeasePlan Confident, available to SME and Small Corporate customers, enables the ordering of lease vehicles with confidence of early termination due to life-changing events.

Commercial director Chris Black said: “We understand that the pandemic has put an unprecedented strain on fleets of all sizes and that more flexible leasing options, with the ability to make changes when necessary, would give fleet managers peace of mind. Our new offerings provide a safety net for our clients, which will help to protect them from unexpected events while giving them the confidence they need to make bolder decisions for the future.”