Lex Autolease has fully allocated its £1m fund to the electric vehicle (EV) market, four months earlier than expected.
The firm’s flagship EV1000 initiative has provided customers with £1,000 cashback on 1,000 pure electric vehicle orders since January. The campaign was designed to accelerate the uptake of EVs and has generated interest from both business and personal customers, beyond the orders that qualified for cashback.
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More than 1,300 customers have enlisted the help of Lex Autolease this year on their Road to Zero. Well-known companies and organisations that have benefited from the EV1000 scheme include Anglian Water, EON, Cornwall NHS Trust, Bourne Leisure Limited and Mitie.
After receiving more than 2,200 EV orders in 2019 and delivering more 1,000 so far this year, Lex Autolease has seen its EV fleet increase in size by 127 per cent in the last 12 months.
Richard Jones, managing director of motor finance and leasing at Lloyds Banking Group, commented: “As the UK’s leading vehicle leasing provider, we have an important role to play in driving change and in helping fleet drivers be the pioneers of the newest, cleanest vehicle technology.
“With the regular replacement cycles that come with leasing, fleet drivers are also feeding the second hand market with low and zero-emission models, which is critical for the country to meet its ambitious emissions targets.
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By GlobalData“The financial contributions we’ve offered via the EV1000 are one of many whole-life cost benefits drivers can enjoy with the switch to electric. Cheaper fuel, tax and maintenance are also key considerations – and as battery technology and charging infrastructure continue to develop and improve, EVs are an increasingly attractive option for more and more people.”
Of the total EVs ordered from Lex Autolease in 2019 to date, 87 per cent are cars and 13 per cent are light commercial vehicles (LCVs). Business contracts account for 83 per cent of orders, and personal contracts account for 17 per cent.
The Jaguar I-PACE range has proved most popular among Lex Autolease customers with nearly 900 orders received in 2019 to date, while the Nissan e-NV200 ELECTRIC 80kW Acenta van is the single most popular commercial vehicle with more than 230 orders.
The EV1000 fund was open to individual and business customers and has now closed following the allocation of the full £1m.
