World EV (Electric Vehicle) day 2022 is all about driving change on a global scale to shift the transition to sustainable transport. September 29th, 2022 will be a day of celebration where we come together as consumers, businesses and manufacturers to celebrate emobility, the continued advancements in electric driving and the charge towards zero emission vehicles by the 2030 deadline.
The United Kingdom parliament and the White House in Washington both celebrated World EV Day. Consumers and Businesses will play a vital role in 2022 in #DrivingChange and supporting the shift towards emobility. World EV Day helps to provide more consumer confidence in the EV products and services currently in the market. It helps customers and businesses to understand how important the change to EV is for the environment, the technology that goes into these cars and the benefits economically they can reap from investing into the EV market.
SERE Motors are here to highlight five benefits of making the switch from I.C.E (Internal Combustion Engine) vehicles to EV vehicles, these include:
1. Reduced noise pollution
Air pollution in towns and cities around the UK has always been seen as an issue because of the number of vehicles on the road, but noise pollution is also a massive problem because of I.C.E vehicles. EV’s offer a fantastic solution for both environmental issues moving forward. Air pollution is minimised by the zero tailpipe emissions and noise pollution would be limited due to the naturally quieter electric motor compared to an internal combustion engine.
A statistics company called “Dafra” found that noise pollution affects more than 11.5 million people in England alone which calculates to 20% of the population. The World Health Organisation (WHO) states that, noise pollution is the second most harmful environmental factor on human health after air pollution and can lead to health issues such as increased stress levels and blood pressure, heart loss and heart disease.
A company called “Broker Vehicle Contracts” carried out an investigation into the harmful nature of noise pollution in the UK and how EV’s can help in the future. They found that electric vehicles could reduce noise pollution by almost 40% by 2050 without any change in the levels of traffic.
2. Government funding
There are four main areas in which the government are providing consumers and businesses with funding when it comes to electric vehicles, these include:
- EV charging government grants
- The vehicle excise duty and the benefit-in-kind tax for electric cars
- Tax cost of owning a EV compared to an I.C.E vehicle
- The plug-in car grant for certain vehicles that are eligible
The governments grant for EV chargers is broken down into the; Rapid Charging Fund (RCF), On-Street Residential Charge Point Scheme (ORCS), Local Electric Vehicle Infrastructure Scheme (LEVI), Workplace Charging Scheme (WCS) and the EV Charge Point Grant.
The RCF is a government fund that intends on accelerating the rollout of rapid chargers on the strategic road network, supporting those commuters making longer journeys. The ORCS is a scheme created to increase the number of roadside/residential electric car charging station where off-street parking is not available. The LEVI scheme totals around £450 million and is used to aid EV hubs and on-street charging points to support 40-60% of the population that do not have access to a driveaway. The WCS scheme is a voucher-based programme that offers £350 off the purchase and installation of an electric charge point for a total of 40 points. The EV Charge Point Grant provides funding for 75% of the costs of buying and installing EV charge points in a UK domestic property (up to a maximum of £350.)
All vehicle owners must go through the process of taxing their vehicle, but because Vehicle Excise Duty (VED) is calculated according to CO2 tailpipe emissions for all vehicles registered since March 2001, most EV owners will be exempt from any charge.
Employers have been able to offer company cars as an added benefit when attracting new employees. But uptake has been dwindling in recent years thanks to rising Benefit-In-Kind (BIK) tax rates – the tax an employee must pay for receiving this benefit, based on a vehicle’s fuel type, CO2 emissions and personal income tax percentage. However, if employers are to consider offering employees EVs the government has introduced considerably lower BIK rates as an incentive – a great benefit to pass onto employees.
Below is a table created by “MER” to show the current tax rate savings on a company car comparing what you would be paying for a petrol vehicle vs an electric vehicle.
Finally, the plug-in car grant is for cars with CO2 emissions of less than 50g/km that can travel at least 112km (70 miles) without any emissions at all, cost less than £32,000 RRP (incl. VAT and delivery fees) are eligible for a grant for 35% of the price, up to a max of £1,500. SERE Motors are currently able to offer our customers the MG ZS EV SE Long Range and the MG HS PHEV Excite as part of the governments plug-in car grant.
3. Better driving experience
“EV England” suggests that electric vehicles are a much better driving experience than the traditional internal combustion engine cars because they are quieter and refined. They also have instant torque at all times for a smooth, responsive acceleration and also have no clutch or gearbox so it makes the journey more enjoyable.
4. Increased resale value
The question on all EV buyers’ lips is, are electric cars worth buying and do they have a good resale value? The simple answer to this question is yes. With any new technologies in the automotive industry, it will take time for the mass market to adapt to the change from combustion engines to electric motors.
The EV Junction explains that brands like MG offer their customer the 3:50 buyback plan at the time of purchase which allows them to resell the car back to the company and get 50% ex-showroom value. This plan is for 3 years or 30,000 kilometres whatever one comes first. The customers car must be below £49,000, not be damaged, can not be serviced outside MG Motors and the kilometre clock not to be tampered with. This will safeguard the resale value of all MG electric cars like the MG ZS EV, MG5 EV and the new MG4 EV.
5. Lower running cost
Direct Line, A UK based insurance company states that, a lifetime ownership (14 years) of an EV in the UK will cost an individual £52,133 compared to an I.C.E car which will cost around £53,625. Yearly an EV will cost someone in the UK £3,752 compared to £3,858 for an I.C.E car, which calculates as an annual saving of £106.
The initial upfront cost for an EV model is £5,000 more expensive compared to the petrol or diesel equivalent. Where the EV starts to save you as the consumer money is the annual tax, maintenance and running costs. The annual tax and maintenance including MOT and servicing is 49% lower compared to the I.C.E vehicles and the refuelling cost is 58% lower for the EV. Direct Line continues to highlight that the annual running cost for an EV average out at £1,742 which is £33.50 per week this is 21% cheaper than the running cost of a petrol or diesel car which works out at £42.20 per week and £2,205 per year.
The only downfall for EV’s in terms of running costs is the fact that insurance is 25% higher because of the complexities and production costs to put the latest technology and over-dependence on the computers used in these cars.
Electric cars are here and here to stay! Thanks to improved choice, lower prices, grants and ever-improving battery technology, SERE Motors are proud to offer an exciting range of electric cars from MG, SEAT and SsangYong.
We have a team of expert staff on hand to help you with your purchase. We can accompany you on a test drive, introduce you to the features, demonstrate how the charger works and answer any questions or concerns you may have with purchasing an electric vehicle.
Check out this link to see SERE Motors fantastic new and used EV stock and why not get in touch with ourselves to book a test drive or enquire about your new EV before the 2030 deadline.
*Prices correct at time of publication and is subject to change. T's & C's Apply.