Hybrid or EV salary sacrifice?
EVs win on tax savings, sustainability, and future-proofing. The smarter choice is clear.
Why Octopus EV is the right choice for your business
Your business is protected from day 1
Employees save up to 50% with an EV
An employee benefit that's free to set up
Hit Net Zero targets with EV salary sacrifice
EVs are the smarter route
Long story short: EVs are the best long-term option for employers and employees. Here’s why:
Hybrids on salary sacrifice? Time to move on.
Hybrids once had a great tax advantage through salary sacrifice. But with rising Benefit-in-Kind (BiK) rates, even the best hybrids are losing their appeal. Employees would even be better off owning a hybrid privately via personal contract hire (PCH) vs getting one through salary sacrifice. And with new CO2 testing coming in 2025, costs are set to rise even more.
With BiK rates staying low for EVs, the financial gap is only going to get wider. That means hybrids will cost more for the employer and the employee. Time was already running out for hybrids, now they've hit the end of the road.
Electric is cheaper - simple as that.
On a salary sacrifice scheme, 95% of drivers would save money by going electric. It doesn’t matter what EV you choose or even if you can’t charge at home. But if you can plug in at home, you’re looking at an average saving of nearly £1,500 a year.
Plus with Octopus EV, your drivers get the choice of getting a free home charger with standard installation, or £600 of public charging credit. That's about 4,000 free miles.
And of course, EVs are cleaner.
No tailpipe emissions. Lower lifetime carbon footprint. And as the UK grid keeps getting greener, bringing in more renewable energy sources, EVs only get better for the planet.
All this combines into a win win situation - your employees save on money and you get closer to hitting your net zero targets.
Ready to make the switch?
We’ve helped 6,000+ companies switch to electric by offering EVs through salary sacrifice. Employees lease a car and pay from their pre-tax salary, saving money and making owning an EV more affordable.
Join the growing number of forward-thinking organisations driving the electric revolution.
Fancy an EV for yourself?
Want to bring EVs to your workplace, we’ve got you covered.