Finance Bosses Demand Cost Parity From Electric Vehicles

Four out of ten financial directors would not pay a financial premium to introduce hybrid or fully electric vehicles (EVs), according to a survey by industry supplier of company vehicles, Lex Autolease.

The company, which leases 300,000 vehicles to firms nationwide, says its poll of one hundred financial directors confirms that cost remains a major barrier to entry for many. However, for just over a third (thirty-five percent) of those polled, a price premium of up to ten percent - compared to conventional fuels - wouldn't be too much to swallow.

Further findings from the survey, also reveal that half of firms (or fifty-three percent) would invest in hybrids and EVs if they could match gas and diesel alternatives on a range of criteria, including running costs and convenience of use.

Marcus Puddy, Head of Consultancy Services at Lex Autolease said, "For a long time (gasoline) ruled the roost, but today diesel is the most popular fuel choice. So, who knows what tomorrow will bring given our finite oil reserves and rising carbon taxes?

"The fleet industry is renowned for being an early adopter of new technologies and, over the next five years, we anticipate that EVs will become a practical option, in limited numbers, for firms doing a lot of localized 'back to base' short journeys.

"Whether they eventually become a mainstream choice for the company car driver is another matter altogether and this will largely be dictated by how well the current generation of EVs perform on the used car market," Puddy said.