Octopus Electric Vehicles Introduce 'Nearly New'

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Octopus Electric Vehicles has introduced a new salary sacrifice scheme called 'Nearly New' for second-hand electric vehicles (EVs), with the goal of increasing accessibility to EVs in the mass market.

Under this scheme, drivers can now lease an electric Renault Zoe, Peugeot e-208, or Vauxhall Mokka-e for approximately £300 per month, inclusive of insurance, and maintenance costs.

This offering expands upon Octopus' salary sacrifice scheme for new EVs, launched in 2021, which has already been adopted by over 3,500 companies.

Fiona Howarth, CEO of Octopus Electric Vehicles, emphasised the importance of developing a robust second-hand market for electric cars to achieve net zero transport. By tapping into the growing fleet of used EVs, people can now enjoy the benefits of advanced, eco-friendly vehicles at half the cost of traditional gas-powered cars.

All the vehicles available in this scheme are less than two years old and have undergone thorough servicing.

Leasing EVs has proven to be an attractive option for those seeking to switch to electric, as it allows drivers to upgrade to the latest technology every few years while benefiting from low fuel costs.

Howarth noted that once people make the transition to electric, very few return to traditional vehicles. With this new used scheme, going electric becomes even more affordable, making it an option for a broader range of drivers who may not have previously considered it.

Octopus' 'Nearly New' scheme follows the launch of a similar initiative called Re-loveelectric by electric car salary sacrifice provider Loveelectric.cars in April.

Additionally, Octopus Electric Vehicles recently announced that it has secured £650 million in electric car funding to further support its salary sacrifice offering.

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