A growing number of small to medium business enterprises are considering deploying EV salary sacrifice schemes to help drivers make the switch to electric.

A third (33%) of drivers said access to EV salary sacrifice would have a positive effect on how they view their employer

New research from flexible fleet insurance provider Churchill Expert found that while just 13% of SMEs currently offer such schemes, over two-thirds (68%) are considering it, of which 56% are thinking about going live within the next 12 months.

Such a move would bring support for the increasing number of drivers looking to go electric while also bringing benefits to the business. A third (33%) of drivers said access to this scheme would have a positive effect on how they view their employer, while one in six (17%) would consider switching jobs if a similar company was offering this.

The research from Churchill Expert also found that more than 19 million drivers currently driving internal combustion engine cars would like to make the switch to an electric model. Of this figure, almost two-thirds (65%) would consider taking up a lease or car subscription, with 13% having already looked at this option for their next vehicle.

Cost effectiveness came out on top as the most appealing reason to lease or subscribe to an electric vehicle – cited by 44% of respondents who’d like to go electric. This was followed by the freedom to update EVs more regularly as the range improves (29%) along with avoiding vehicle depreciation (27%).

Nicola Richmond, head of Churchill Expert Flexible Fleet Partnerships, said the research shows people are thinking ahead to how the car industry will look in the wake of the 2030 ICE ban.

“It’s good to see people are already doing their research and it is also encouraging that so many are willing to make the switch to electric vehicles.

“We are fortunate to have so many options when it comes to acquiring cars now and motorists can opt to try something out for a longer period, without the commitment of buying it. As the market improves and more models of electric cars become available, it will allow more people the opportunity to take their first steps towards going electric.

“It’s also great to see so many companies have the electric car salary sacrifice scheme on their radar, which will assist more people in making the switch to electric sooner rather than later,” she added.

Source: Churchill Expert data, 2022