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SMEs think businesses have a responsibility to switch to EVs

Electric vehicle charging

The majority (94%) of SME owners believe UK businesses have a responsibility change them to electric vehicles (EVs), according to research by Cambridge & Counties Bank.

Highlighting car retailers' EV opportunity with smaller enterprises, the new research of 100 senior decision-makers found that most would be making the switch as soon as possible, with almost half (46%) believing it should be a priority.

Around a quarter (23%) of respondents said they were already in the process of switching to EVs, while a third (35%) said they are aiming to start the process in the future.

Around a fifth (19%) of respondents said they will only do so at a time when the vehicles need upgrading and just 3% said they have no plans at all to switch.

Of SMEs surveyed, 93% said they utilise vehicles in some form and one in 10 (11%) already have a fleet consisting of a majority of EVs. A further 77% are expected to make the switch in future.

The ban on the sale of cars and vans powered by petrol or diesel from 2030 was announce by UK Government last year.

The Government’s decision to bring forward the ban resulted in a spike in engagement of electric vehicles (EVs) on AutoTrader’s marketplace, last year. 

A 0% benefit-in-kind rate relief on EVs introduced in April 2020, is also expected to boost usage among UK firms.

Some 84% of SMEs believe that the introduction of the BIK relief will have a positive impact on the take-up of EVs over the next 12 months.

The research found over two thirds (68%) “wholeheartedly” agree with the UK Government’s 2030 ban, with 28% believing it should be moved forward to 2025 and only 3% believing it should be moved back due to it being “overly optimistic”.

Simon Hilyer, senior business development manager at Cambridge & Counties Bank, said: “Following strong uptake in EVs across the past few years, 2021 will likely see continued and profound market growth in the UK, whether in terms of cars, vans, fleets or larger vehicles, particularly as tax and political considerations fuel demand and manufacturers themselves focus production on EVs.

“Our research has clearly shown that UK businesses are keen and ready to make this transition.”

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