Giganet, in partnership with Octopus Electric Vehicles, launches Electric Vehicle (EV) leasing scheme – to drive EV adoption forward for eco-conscious businesses and achieve tax savings of up to 40%
Local internet service provider Giganet is stepping ahead of the curve when it comes to environmentally conscious staff benefits, launching an Electric Vehicle (EV) scheme for its employees.
The EV salary sacrifice scheme offers Giganet employees a chance to proportion some of their monthly wages against the cost of an electric vehicle. In turn, participants pay less income tax and National Insurance each month and get access to a brand-new EV.
Delivered through a partnership with Octopus Electric Vehicles, the scheme allows employees to lease a brand new, fully electric car chosen from a range of over 65 popular models, for a 2, 3 or 4 year period.
Helping individuals to drive 100% electric is part of an overarching initiative for Giganet, who also instated a Cycle to Work scheme through Cyclescheme, and planted over 10,000 trees with environmental partner Ecologi last year.
Why electric?
Electric vehicles schemes are a good reason why driving an electric vehicle (EV) is becoming more accessible and affordable in the UK.
Natalia Peralta Silverstone, Head of Propositions at Octopus Electric Vehicles, said: “Our EV salary sacrifice scheme is a win, win. Giganet gets to supercharge its employee benefits package and their employees are happy saving money, driving a brand new car and doing their bit for the planet. We’re seeing people wake up to the benefits of driving an EV. With every month that passes, EVs are taking a large chunk of car sales – they’re not just the car of the future, they’re what people want now. We look forward to working with Giganet to help contribute to that number and speed up the transition to zero emission cars.
Because the deduction is taken from the gross salary before tax and national insurance, it can result in savings of up to 40% in monthly vehicle costs, something that will help to offset the government’s National Insurance increase due to take effect in April 2022.
The shift in favour of electric vehicles has steadily grown amidst a heightened focus on climate change. As more people and businesses are drawn to greener alternatives to travel, the scheme is not just about tackling climate change, it is integral to how companies like Giganet attract employees to their fast-growing organisation.
Thanks to the Octopus Electric Vehicles scheme, even solutions for charging are covered; for example, if an employee has off-road parking, Octopus will install a smart charging point at their home free of charge and offer 5,000 free miles of electricity from their Octopus Go tariff.
Where off-road parking doesn’t facilitate a smart charger installation, enrolled employees can take advantage of up to 5000 free miles of electricity from the Electric Juice Network, using one of over 200,000 chargers situated across the UK & Europe.
Giganet’s Chief Executive Officer, Jarlath Finnegan said: Increasing the number of electric vehicles on our roads has the potential to make a huge impact in reducing emissions and helping to tackle climate change, but for many people, the upfront costs of purchasing or leasing a car themselves are too high.”
“Thanks to our partnership with Octopus Electric Vehicles, the scheme supports our efforts to be an eco-conscious organisation. It offers our employees an opportunity to save money, a way to reduce their carbon footprint and another great reason to work at Giganet.”
Over 15 short months, Giganet has grown exponentially from a headcount of 24 to nearly 120 staff. Spearheaded by a new industry-experienced leadership team, and backed by an incredible £250m funding, the forward-thinking ISP is building their own full fibre network, supporting government plans to deliver much-needed hyperfast broadband to UK homes and businesses.
Scheme practicalities
Developing a scheme that suits the Giganet workforce involved a lot of careful consideration. Not only to ensure maximum interest but to make the process painless and offset any risks to employees should their employment or health circumstances change.
Employees select their car, the length of term and mileage, then the vehicle is then ordered for eligible participants and delivered in 4-7 weeks. There is no initial payment to make and no individual credit checks.
The scheme offers an excellent choice of EVs from notable manufacturers like Tesla, Mercedes, Fiat and Nissan, appealing to drivers with different tastes and budgets.
Octopus Electric Vehicles also take care of all those driver essentials too; insurance and accident management, fully-managed service, maintenance and repair, roadside assistance, replacement tyres, and early termination protection for those unforeseen circumstances.
Thanks to the Octopus Electric Vehicles scheme, even solutions for charging are covered; for example, if an employee has off-road parking, Octopus will install a smart charging point at their home free of charge with 5,000 free miles of electricity from their Octopus Go tariff.
Where off-road parking doesn’t facilitate a smart charger installation, enrolled employees can take advantage of up to 5000 free miles of electricity from the Electric Juice Network, using one of over 200,000 chargers situated across the UK & Europe.
For added peace of mind, dedicated account management across the scheme lifecycle is readily available, offering advice about EVs and helping to build a picture of EV ownership for our staff to appreciate the full benefits, answering employees’ queries around range and performance.
How the scheme helps Giganet staff
The electric vehicle scheme aligns with Giganet’s intention to be a socially responsible organisation and ISP. Since broadband is now something 59% of the world have access to, it makes perfect sense that consumers will be paying attention to whether their internet provider is environmentally friendly. The EV car scheme further demonstrates that Giganet is proactively driving sustainability improvements, and when it comes to offering staff benefits, they know everyone has the opportunity to play a part in reaching our goals to reduce climate change.
From recycling to travel to each of our staff receiving 2 paid days per year to volunteer for a charitable or environmental cause, we know there are plenty of steps employees and other businesses can take to reduce their environmental impact. Following on from our blog post last month about What Giganet is doing for the environment? the EV-only car scheme serves to perfectly support these other ongoing green initiatives, while unlocking affordable, clean, green driving for all our employees.
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