Octopus launches ‘salary sacrifice’ scheme for employees who want to buy EV

The new leasing service is similar to ‘cycle-to-work’ scheme, and allows staff to pay for a new EV from their salary

Big Zero Report 2022

Octopus Energy Group‘s electric vehicle (EV) arm, Octopus Electric Vehicles has launched a new leasing service that aims to help employees make the switch to clean driving easier and cheaper.

The scheme, called Electric Dreams, offers a ‘salary sacrifice’ system, similar to the well-known cycle-to-work one that allows staff to pay for a new EV from their salary.

The company said drivers already signed up are saving an average of £14,445 in three years, by sacrificing some pre-tax salary in return for a new EV.

Fiona Howarth, Chief Executive Officer of Octopus Electric Vehicles, said: “Businesses and employees across the UK are searching for ways to do their bit for the environment.

“We have seen a seven-fold jump in salary sacrifice enquiries in the last year. If businesses in the UK introduce a scheme like this, they have the power to significantly reduce transport emissions across the UK by 2030.”

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