CAR LEASING company Venson is backing the future of electric vehicles by adding them to its fleet options.
The Surrey-based company which prides itself in delivering bespoke leasing, attracted dozens of fleet managers to a ride-and-drive day at which they could see and try out a range of vans, cars and two-wheelers at Bruntingthorpe Proving Ground.
It emphasised its commitment to electric with a wide-ranging morning conference which included a keynote talk by environmentalist Dr Julian Caldecott, who underlined the need to reduce CO2 emissions with a chilling explanation of the ‘third degree’ theory.
Dr Caldecott explained that the carbon we are now releasing into the atmosphere was laid down by forests 200 million years ago, when climatic conditions were very different: “It represents the carbon trapped by 100 million years of sunlight,” he said. “Now, we are burning 1 million years’ worth every year. We are, in business parlance, living on capital reserves, not income.”
But Dr Caldecott warned that oil is rapidly coming to an end, evidenced by oil wars and the race to find the last reserves. He said there is now no serious contention for climate change and that it is caused by CO2 fossil fuel emissions.
Dr Caldecott explained the problems we will have if we get a 2 degree Celsius rise in global temperature, but he explained that a 3 degree rise, according to most climatologists, would lead to the end of human civilisation and an extinction event which would see more than half of life on earth perish.
“The time for electric cars has arrived,” he said.
Venson’s Andy Brown said he is there to provide the solution. He said Venson understands the cautious approach of companies in trying electric vehicles.“We have spent a lot of time with the manufacturers to take the residual value risk,” he said. “But it’s an exciting time for electric vehicles. They work particularly well in low-mileage intracity operations, and are gaining acceptance. The best news is, they can be more cost-effective in operation.”
Mr Brown said the lack of Vehicle Excise Licence and, in London, no Congestion Charges were only part of the cost saving. Fuelling electric is a tiny fraction of the cost of liquid and gas fuels, while there is also a significant reduction in maintenance costs.
“The infrastructure to support the technology is also growing fast, and there are more charging points now, with a great many more planned for the next two or three years.”
Venson is committed to underwriting electric vehicle residuals, said Mr Brown, and is expecting there to be a market for 10,000 to 15,000 electric vehicles a year within five to seven years.
Projections of cost saving based on Venson’s leases show an 18% reduction in running costs of a small electric car, compared to a liquid fuelled equivalent, and a hefty 17% reduction in costs for a small electric van versus its diesel counterpart.
