Exploring EV challenges at our Transport Expo
How Lex Autolease can help your business navigate three of the biggest EV challenges
Over the last few years, we've seen huge progress in the adoption of electric vehicles (EVs). In 2024, EVs made up 19.6% of new car sales in the UK, driven by the Zero Emission Vehicle (ZEV) mandate.1
Despite impressive progress, the market fell just short of the ambitious 22% target. Looking ahead, 2025 requires 28% of new car sales to be EVs.
As one of the UK’s leading fleet provider companies with over 281,000 vehicles, Lex Autolease knows that EVs bring Fleet Managers and businesses unique challenges to navigate.1
With Lloyds Banking Group, our first Transport Expo was held in October 2024 to bring together experts from across the industry to talk about the latest EV developments and how we can work together to sustain momentum on UK businesses’ transition to EV.
In this article, we explore the three biggest challenges and share insights on how we at Lex Autolease can help your business successfully transition to EV. While making the most of your fleet, meeting your goals and supporting a greener future.
1. Affordability in times of change
Price continues to be the most common barrier when it comes to businesses adopting EVs. Particularly the upfront cost.
For Fleet Managers, 97% who have started their EV journeys, or plan to, expect their efforts will be affected in some way by tough economic conditions.1 And it’s not surprising, given that the cost of accident repairs on EV vehicles is predicted to increase by 30%.2
But in more positive news, looking at the long-term benefits, 71% believe the switch to EVs will be cost-neutral or help save them money1.
Lloyds Banking Group Transport Expo
How Lex Autolease helps
Our Whole Life Cost (WLC) model helps illustrate the long-term costs and benefits of EVs by showing you what the cost of your fleet may be over its whole life.
When considering the WLC of a vehicle – not just the upfront price but the total expense over its leasing term – EVs offer a clear financial advantage. WLC accounts for fuel, maintenance, national insurance contributions, and other expenses.
We offer a range of finance options that are designed to meet your needs. Recently, we’ve focused on offering Used EV leasing to meet a demand from the more budget conscious.
Paul Hyne, Commercial Director for Transport across Lloyds Banking Group's transport brands, talked at the Transport Expo about the ground swell Used EV leasing is creating. For some businesses, it will help democratise EVs, opening it up to more of the workforce beyond middle and senior management.
Paul Hyne said, “We’re trying to be flexible and tailoring our solutions to the different customers that we work with, so we can get a more sustainable result.”
For commercial van fleets, we’re also trialling a try-before-you-buy scheme. With the van transition being four or five years behind cars but the UK Government aiming “to phase out the sale of any heavy goods vehicles weighing 26 tonnes and under that are not zero emissions by 2035”3 , we’re working closely with businesses to help close the gap.
2. Fuelling customer education
Consumer confidence is vital when it comes to EVs, and boosting confidence can help achieve ZEV mandate targets.4
Consumers are looking for the right information at the right time, but they also appreciate if it is impartial, to help breakdown common myths around range and battery health etc. Real-world EV examples are needed.
How Lex Autolease helps
We’re experts in finding the right solutions and recommendations for our customers, so they can have confidence in moving their fleet to electric with us. They might not be asking for EVs, but it might still be right for them.
Businesses don’t need to transition all of their fleet in one go. Our team can help in evaluating which are the best vehicles to transition first, which is especially good to be aware of in a mainly low-cost vehicle fleet.
We’re continually refreshing our website’s resources hub with the latest insights and updates to bring fleet drivers the go-to impartial answers and case studies; to build their confidence and help them self-serve the knowledge they need to make the right decisions for them.
For example in this myth-busting article (PDF, 391KB) , Chris Chandler, Principal Consultant at Lex Autolease, explains why EVs have a Public Relations problem and how we can address it.
3. Steering the Fleet Manager experience towards business goals
We recognise the value of delivering on the EV experience of a Fleet Manager. Especially when it is business critical, there’s no room for not delivering.
EVs are increasingly part of net-zero targets for businesses. An EV offering can also be an essential draw for talent for businesses. As Steve Openshaw, Group Fleet Manager, Eric Wright, told us, “A company car has always been a draw for potential candidates, and now EVs are part of that tick list.”
Addressing driver needs head-on through data insights helps remove barriers and convince them into an EV mentality. For Fleet Managers, it can help attract more new business opportunities and create retention business. It can also help them add value to the business as a whole.
How Lex Autolease helps
We offer bespoke solutions to businesses because we understand every business faces unique challenges at different times. For example, Telent’s employees were experiencing long lead times for new EVs, so we brought in an innovative Used EV leasing scheme to cut times right down. Read Telent case study, PDF 943KB.
Lex Autolease has also invested in making EV adoption and use easier for employees. For TSB the customer journey for an employee to get an EV was made more seamless and self-sufficient, with greater choice and transparency made possible with a tailored management system. Read TSB case study 280KB.
In conclusion
Even with navigating a maturing market, we’re confident that we at Lex Autolease can offer the best support for your business to meet your EV goals. We’re here to listen to your needs. The financial options, insight, and innovative bespoke solutions we offer and continue to invest in, will put you in pole position to navigate EV challenges and make the most of opportunities.
To find out more about how we can support you, schedule a consultation with your Customer Relationship Manager or visit our business quote page.
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