Latest news with #OctopusElectricVehicles
Yahoo
06-08-2025
- Automotive
- Yahoo
Octopus EV and Mastercard to collaborate on salary sacrifice scheme
Octopus Electric Vehicles has partnered with Mastercard to offer its electric vehicle (EV) salary sacrifice scheme to employees of small businesses. The collaboration allows small business cardholders within the Mastercard Business Bonus programme to offer their staff an additional £100 charging credit when they opt for an electric car lease. The salary sacrifice scheme is designed to make the leasing of EVs more affordable for employees. According to a press release, employees can save up to 40% on their monthly car expenses by allocating a portion of their pre-tax salary towards leasing an EV. Charging an EV using Octopus Energy's Intelligent Octopus Go tariff could yield further financial benefits, with potential annual savings when compared to traditional fuel costs. A salary sacrifice scheme is said to be the 'cheapest way' presently to adopt EVs while enabling businesses to reduce their carbon footprint and offer employee benefits. Octopus Electric Vehicles founder Fiona Howarth said: 'Salary sacrifice remains the cheapest way to drive a new EV. And the benefits are not just for drivers, but for their employers too. 'Companies can cut their emissions, retain staff and save money. By partnering with Mastercard, more businesses, of all sizes, can discover one of the most attractive employee benefits around right now.' Mastercard fintech, government and digital partnerships senior vice president Darren Deal said: 'It's great to team up with Octopus EV to help our small business cardholders access more sustainable travel alternatives. 'Through our Business Bonus programme, Mastercard collaborates with trusted partners to deliver innovative and tailored solutions that help businesses grow, and this is a prime example of that.' Within four years, Octopus is said to have enabled more than 6,000 companies such as PepsiCo, Jacobs Douwe Egberts, and TPX Impact to implement EV salary sacrifice schemes. In February, Octopus Electric Vehicles partnered with Dealer Auction to create a digital marketplace for pre-owned EVs. "Octopus EV and Mastercard to collaborate on salary sacrifice scheme" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Auto Express
16-07-2025
- Automotive
- Auto Express
Car Deal of the Day
Well-equipped Red specification 252-mile range with heat pump Just £249 a month plus a free home charger Love the retro flair and flamboyance of the Fiat 500e but need more space? The Fiat 600e neatly fits this role, marrying both style and practicality in a desirable package. It could be the perfect choice if you're pondering the switch to an electric car but need an extra sweetener to make you take the plunge. Advertisement - Article continues below Through the Auto Express Find a Car service, energy supplier Octopus, through its Octopus Electric vehicles division, is offering the retro Fiat for just £249 a month, complete with a free home charger. It means this deal is a ready-to-go option for first time EV drivers. All that's needed to get the ball rolling on this four-year deal is a £2,988 initial payment. Mileage is capped at 5,000 a year, but this can be doubled to 10,000 per annum for a measly £16 extra a month. If that's not sweet enough, Octopus Electric Vehicles also throws in a maintenance package, which covers servicing, routine repairs and breakdown cover. This 600e comes in Red specification, so metallic red paint is thrown in, as is a 10.25-inch touchscreen with Apple CarPlay and Android Auto, climate control, 17-inch diamond-cut alloys, and plenty of red interior detailing. Plus, rather impressively, a heat pump also comes as standard, helping to make the 600e as efficient as possible. Speaking of efficiency, the 54kWh battery is claimed to give a range of 252 miles, and we've found that to be pretty accurate. A charging speed of 100kW means topping up at roadside chargers should take less than half an hour, too. The 600e gets a 154bhp electric motor powering the front wheels. It gives pretty decent performance, with 0-62mph taking nine seconds, but the little Fiat is all about comfort. Soft suspension and light steering give a plush, easy-going feel. The Car Deal of the Day selections we make are taken from our own Auto Express Find A Car deals service, which includes the best current offers from car dealers and leasing companies around the UK. Terms and conditions apply, while prices and offers are subject to change and limited availability. If this deal expires, you can find more top Fiat 600e leasing offers from leading providers on our Fiat 600e page. Check out the Fiat 600e deal or take a look at our previous Car Deal of the Day selection here…
The Sun
20-06-2025
- Automotive
- The Sun
EV drivers can get 5,000 miles of FREE charging this summer – and you can apply now
THE UK's biggest energy supplier is launching its first electric vehicle home charger and you can get your hands on it for free. Octopus Energy has designed and built its own EV charger which will provide charging for as little as 2p per mile and new users will get heaps of free charging. 2 Named Octopus Charge and launching in August, new customers who sign up will get a 5,000 free miles bonus. The offer is only available to the first 100 people, so EV drivers will have to be quick to snap up the offer. Combined with Octopus' Drive Pack tariff, customers can get unlimited charging for just £30 a month. The saving don't just end there, because those with Octopus solar panels can power their EVs with any surplus solar electricity. The new EV charger has built-in 4G and a uniquely designed charging cable holster so it can fit snugly in tight spaces. 'Charging at home is already better than queueing up at the petrol station – and now we've made it even simpler," said Rebecca Dibb-Simkin, chief product officer at Octopus Energy. 'Octopus Energy was the first energy company to launch a smart tariff, an EV tariff, an export tariff, and our very own heat pump." She added: "We're delighted to add Octopus Charge to our stable, initially designed to work seamlessly with Intelligent Octopus Go, and with other features to follow shortly.' Octopus Charge will first be exclusively available for customers of Octopus' EV leasing business, Octopus Electric Vehicles, before being launched to all Octopus Energy customers in August. Those interested can register their interest at the Octopus Energy website. New Nissan Leaf tested - it's bigger, better and goes further It's been a big week of announcements from Octopus Energy, who only days ago said it was bringing back its popular Saving Sessions for households. The scheme is a way for customers to earn rewards by reducing their electricity consumption during specific times when the national grid is under pressure. Over the summer, households have a chance to use their washing machine and charge their devices for free if they shift their usage from peak times. Octopus said the free electricity will be available during one-hour slots that will usually be held in the early afternoon. To be eligible for the scheme, you must be an Octoplus member, which is a free rewards program for the smart meter customers. 2
Forbes
06-06-2025
- Business
- Forbes
SXSW London Debates: Is The Green Transition Financially Viable?
Rhian-Mari Thomas argues that the green transition is financially viable at SXSW London, referencing ... More the record amount of investment in the sector in 2024 Thought leaders across green finance and economics gathered to debate the financial viability of climate progress on day four of SXSW London. Held at the innovation and ideas festival's Climate & Nature House, a space hosted by Bellwethers to have meaningful environmental conversations, the session followed a traditional debate format encouraging a jovial air of competition. Sophie Lambin, founder and CEO of Kite Insights, and Stephen Dunbar-Johnson, president, international at the New York Times Company moderated the conversation. Lambin clarified that the debaters were tasked with addressing whether we can realistically and successfully invest our way to a green future, considering our current economic system and the state of the climate emergency, or whether we need new financial tools and a financial system. Arguing for the notion that 'the green transition is financially viable' were Rhian-Mari Thomas, CEO Green Finance Institute, Marisa Drew, chief sustainability officer, Standard Chartered Bank, and Fiona Howarth, CEO of Octopus Electric Vehicles. Arguing against the notion were Kathy Boughman McLeod, CEO Climate Resilience for All, Chaitanya Kumar, head of economy & environment at New Economics Foundation and Erinch Sahan, business and enterprise lead at Doughnut Economics Action Lab. Each debater was given three minutes to make their case. The debaters prepare their arguments on stage at SXSW London In support of the motion, Thomas started the conversation by saying that the green transition is 'economically strategic, it is socially imperative, and it is already underway.' She highlighted that a record $2.1 trillion was invested in green energy technology in 2024 according to BloombergNEF. Thomas sees this as evidence that the financial markets view green investments as smart economic strategy that not only provides financial opportunity, but protects us from the social and economic damage of the climate crisis. Howarth drew on the enormous success of her employer, Octopus Energy Group, as evidence that current investment is working. Started nine years ago, the company now employs 10,000 people and is valued at $9 billion while making green energy a viable option for consumers. She says this is thanks to 'smart innovators', and 'clever policy mechanisms'. Drew, instead, highlighted that emerging markets such as India, China, Indonesia and Middle Eastern countries have some of the fastest growing economies and are doubling down on green energy transition. 'What is Saudi Arabia doing? It is spending billions, if not trillions, on diversifying its economy. What does that tell you? The energy transition is viable, and the old way is no longer going to be the case in the not-too-distant future,' she argued. The first rebuttal came from Sahan, who highlighted that while $2.1 trillion was invested in green energy last year, the Climate Policy Initiative estimates that $6 trillion per year is needed to fund a green transition. He also argued that financial viability of a movement currently means that it is still satisfying the ROI needs of the financial market. 'These parameters are holding us back,' he said, taking off his belt to use as a symbol that financial markets are placing a straightjacket on businesses and governments to make progress on climate. He then pulled out an apple to make the point that the current green transition focuses on low hanging fruit, undermining the need for larger systemic change that picks the fruit at the top of the tree too. Chaitanya Kumar argued that the current financial system is too heavily influenced by fossil fuel ... More companies to be a fully viable solution to the green transition Kumar's speech made the point that large investment funds have interests in many of the biggest companies in the world as well as oil and gas companies, intrinsically tying them together, and creating strong lobbying power. 'Incumbent power and the political economy of the transition is still very much held by fossil fuel interests around the world,' he said. He drew on examples of the lobbying by fossil fuel companies which saw the EU label natural gas as a 'green energy' in 2022 and Microsoft's pivot on its sustainability strategy to adjust for escalating AI emissions. Finally, McLeod, highlighted the social costs, as well as the environmental costs of the current system. 'The market we have, not necessarily the market we wish to have, incentivizes pollution, devalues people and overlooks protection,' she told the audience. Addressing the plight of informal women workers who are on the frontline of the climate crisis, she said: 'This economy is chaos. We cannot maintain these expectations of return and believe that there is a green future. That is a fantasy.' The debate was declared a tie after the audience were invited to applaud the team they felt debated the best. Summarising the conversation, Dunbar-Johnson emphasised the importance of debate on these issues: 'What you did is encapsulate the complexity of the arguments in these subjects. This is a subject that we must grapple with. If the money is there, do we have the political solutions to drive that? We do have instruments to drive it, but the reality is, too much of the narrative is about the cost of the transition, not about the cost of not transitioning and the opportunities.'
The Independent
05-06-2025
- Automotive
- The Independent
UK electric car sales jumped by over 25 per cent in May
Latest car registration figures from SMMT (Society of Motor Manufacturers and Traders) show the popularity of electric cars is rising fast but is still falling short of government targets. Nearly 33,000 new EVs hit the roads in May, up 25.8 per cent on 2024 figures. That means electric cars account for 20.9 per cent of all new car sales so far in 2025, some way off the government's ZEV Mandate target of 28 per cent. Car makers that fail to hit the 28 per cent figure face fines or will have to find ways to use credits that can include buying them from other car makers. Plug-in hybrid cars are also growing in popularity with registrations up 50.8 per cent on last May with a total of 17,898 PHEVs sold. And although petrol models still account for the vast majority of new car sales, taking 49 per cent of all car sales so far in 2025, the figure for May shows a drop of 12.5 per cent year-on-year. Overall, the car market returned to growth in May, up by 1.6 per cent and the best May for car sales since 2021. However, SMMT says that the fleet and business sector was responsible for the bulk of sales with sales to private buyers down for the second consecutive month. Although EV sales are buoyant, SMMT says that much of that is down to discounting with SMMT CEO Mike Hawes calling for government incentives to boost demand in the upcoming spending review. 'A return to growth for new car registrations in May is welcome but manufacturer discounting on new products continues to underpin the market, notably for electric vehicles. This cannot be sustained indefinitely as it undermines the ability of companies to invest in new product development – investments which are integral to the decarbonisation of all road transport. 'Next week's spending review is the opportunity for government to double down on its commitments to net zero by driving demand through fiscal measures that boost the market and shore up our competitiveness.' SMMT is calling on the government to halve VAT on new electric vehicle purchases saying it could lead to an additional 267,000 new EVs being used instead of fossil fuel vehicles over the next three years, potentially reducing CO2 emissions by six million tonnes annually. SMMT is also saying that EVs should be removed from the Vehicle Excise Duty (VED) Expensive Car Supplement, while VAT for public and home charging should be equalised at 5 per cent to encourage more consumers to consider switching to electric vehicles. Commenting on the latest registration figures, Fiona Howarth, founder of Octopus Electric Vehicles said 'we've seen yet another strong month for EVs – proving that people want to drive electric. There has been a clear shift in the market, with car manufacturers new and old bringing out new, cheaper models every month, improving driver choice and helping to make the switch to cleaner, low-cost driving.'
