The Cheapest Way to Charge Your Car: Introducing The Charge Scheme
We have now launched our latest initiative: The Charge Scheme. This market-leading offering allows employees to participate in their company’s salary sacrifice scheme to save 20-50% on the cost of charging their electric vehicle (EV). This applies to both home charging and more costly public rapid and ultra-rapid charging.
As the demand for salary-sacrifice electric vehicles continues to surge, one of the key challenges for drivers - both current and prospective - is the high cost of public charging. Recognising this we, at The Electric Car Scheme, are dedicated to making electric driving more affordable by enabling savings on charging costs through salary sacrifice.
According to the RAC’s Fuel Watch, the average cost of charging at a rapid or ultra-rapid charger is 24p per mile. This is approximately 40% higher than the cost of petrol or diesel, and three times more expensive than charging at home using a standard tariff. The Charge Scheme aims to bring down the cost of public charging to be in line with, or cheaper than, the cost of driving an ICE car.
Salary Sacrifice Makes EV Charging More Affordable
The graph shows how The Charge Scheme makes electric vehicle charging cheaper. While rapid charging costs 17-24p per mile and diesel/petrol costs around 16-17p per mile, home charging is significantly cheaper at just 5-8p per mile. The Charge Scheme reduces costs across all charging types, with the biggest savings seen in home charging.
John Godfrey got an MG4 through salary sacrifice earlier this year when his company launched the scheme to employees. He’s expected to save around £600 in the first year of using The Charge Scheme
"Since I don't have a home charger I have been spending a lot on electricity from public charge points, I was pretty relieved to find out that there's a way to get some savings back through salary sacrifice. It'll likely save me more than £50 per month"
Pam Pinder got her car through The Electric Car Scheme. Her employer has offered The Electric Car Scheme as a benefit to staff for the last 2 years. She is expected to save around £300 in the first year of using The Charge Scheme.
“The Charge Scheme was an amazing surprise when The Electric Car Scheme shared it with me. I was sent a bright green charge card and easily downloaded the Charge Scheme app. I like the app functionality and that it shows me which charge points are available which has made charging simpler.”
“I was spending a ton on these charge points which made me quite uncomfortable using my car and having to use public charging points. The money saved is very welcome to me at the moment with all the increased costs.”
The Electric Car Scheme CEO and Co-Founder Thom Groot commented:
“Despite the significant demand for EVs and sustainable transport options, EV uptake remains behind where it should be for us to meet Net Zero and ZEV targets in 2030. Cost remains the primary barrier for over two-thirds of potential adopters, according to our research, and this cost is increased significantly if you don’t have access to home charging and off-peak tariffs.”
The Charge Scheme addresses this challenge by lowering the overall cost of running an electric car and offers a practical and affordable solution to those without access to home charging. Incentives like this are crucial in making the transition to net-zero more accessible, helping us towards our sustainability goals”
With this new benefit, The Electric Car Scheme continues to lead the way in providing innovative, cost-effective net zero benefits that break down barriers for employees wishing to make environmentally responsible choices. You can learn more about The Charge Scheme, whether you’re an employee or a company that wants to implement the scheme!
Last updated: 06.11.2024
