THE LEASING division of Lloyds Bank, Lex Autolease, will partner with the Commercial Banking’s SME division to help businesses make the move to electric vehicles.
This initiative comes at a time when the taxation of company cars benefits drivers of electric vehicles. From April 06, 2020, all electric vehicles will be subject to 0% company car tax, saving drivers substantial amounts of money.
It also coincides with the launch of a UK-hosted UN climate summit by the Prime Minister in which it was announced that the government would bring forward its plans to end the sale of petrol and diesel vehicles from 2040 to 2035. This ban will also include hybrid cars, the government said.
Benefits Of EVs Promoted By Commercial Relationship Managers
The Lex Autolease proposition will help convert commercial relationship managers into EV advocates. The leasing company says it will equip them with the knowledge to engage with clients who are considering the transition to zero-emission driving.
Seven commercial relationship managers operating across Lloyds Bank Commercial Banking’s East England SME team will have access to a Hyundai Kona and a Kia e-Nero for a two-week period, experiencing first-hand the benefits and practicalities of EV use in both urban and rural areas.
Lloyds Bank Commercial Banking’s East England regional director – also the SME & mid corporate UK head of manufacturing – will then use one of the vehicles for the following two weeks, visiting clients across Lincolnshire, Cambridgeshire, Norfolk, Suffolk, Bedfordshire, Hertfordshire and Essex.
Angelina De-Cotis, regional relationship manager at Lex Autolease said:
“Sustainability is at the top of our agenda, just as it is for many of the businesses we work with. Lloyds Bank Commercial Banking is uniquely placed to help customers transition to a net zero future, and Lex Autolease has a critical role to play in providing insight and expertise for businesses with fleets of all sizes.
“In a recent survey, we found that only 49 per cent of drivers would consider getting an electric vehicle, largely due to range anxiety and concerns over access to charging facilities. We’ve also observed that these perceived barriers to adoption are more common outside of major cities.
“If our regional teams can share their experiences from behind the wheel, they can help to reassure customers that there might be a role for EVs to play both within their organisations and outside of work.”
The Requirement For Radical Change
Lauren Pamma, electrification propositions lead at Lloyds Banking Group, added:
“The way we live our lives – and the way we travel around – will have to change radically over the next few years. Battery technology and charging infrastructure are improving all the time, and EVs are becoming increasingly viable options for drivers with a variety of need states, in all parts of the country.
“The government has set out ambitious climate change targets, which makes the transition to EVs essential. Businesses that start the transition early can take advantage of in-life benefits such as cheaper running costs, lower taxation and in some areas, free parking. These factors don’t just help to offset the upfront cost of EVs, but can make them cheaper than diesel or petrol over their lifetime.”
Based on feedback, Lex Autolease and Lloyds Banking Group will then consider the possibility of expanding this initiative to other teams.
Lloyds Banking Group has recently announced a pledge to cut carbon by more than 50 per cent in the next decade through products and services to support green finance, making it easier for its customers to invest in tackling climate change.
Lex Autolease said it had the UK’s largest ultra-low emission vehicle fleet, with more than 21,000 ultra-low emission vehicles.