Milk floats. Those of us from a certain era, before out of town supermarkets and changing shopping habits killed them off, may remember milk floats whizzing around our neighbourhoods at sunrise. I remember them fondly, especially the day one tipped over, (I’ll avoid the obvious idiom here) giving me the story of the day at school.
Electric vehicles are nothing new, but it’s taken several decades for them to reach the tipping point to become a viable alternative to traditional fuelled vehicles. Political, economic and practical limitations have until recently consigned electric propulsion to the more specialist and obscure vehicles.
But are we finally about to see the switch to mass adoption of hybrid and electric vehicles? The government’s muted diesel scrappage scheme has passed the consultation stage and seems likely to come into effect in one form or another, along with initiatives like London Mayor Sadiq Khan’s proposed Toxin Tax in the capital.
This coupled with tax breaks, and advancements in battery technology reducing charge times and extending the range of electric vehicles is building towards the compelling event for change.
So what does all this mean for HR and employee benefits professionals?
Public perception of alternative fuel vehicles is starting to shift which means your employees are finally considering hybrid or electric for their next car. Just last week, my neighbour pointed as his Range Rover Evoque and declared it would be the last diesel vehicle he purchased, having just ordered a new hybrid electric BMW.
Electric vehicles have for many, conjured the image of A-listers in California scooting around in their Priuses or the obscure first adopter down the street. However, with more manufacturers swapping the powerplants in their mainstream vehicles, buyers can have a Golf GTI look-a-like with a significant cash incentive to boot.
Green car schemes offer another financial incentive through tax and NI savings that reduce the cost of leasing a car below typical contract hire agreements. With essentials like insurance and servicing included in the monthly cost to employees, it’s an attractive proposition for employees looking to minimise the cost of car ownership.
With schemes easier than ever to launch why not bring back the whizz of electric vehicles at sunrise and include green cars in your benefits scheme?