Octopus Electric Vehicles has secured extra funding to accelerate its flagship EV salary sacrifice programme. Launched in 2021, this scheme empowers drivers to save 30-40% each month on a brand new electric vehicle. The company provides the car, charger and discounted energy tariff all in one package. 

Octopus EV now offers over 85 vehicles from 28 brands with a current fleet exceeding £450 million in value. The new funding will take the total to total EV funding to £1.2 billion. It now has more than 4,000 companies signed up to its salary sacrifice offer, including household British businesses such as Dyson, McLaren and Innocent Drinks. 

Fiona Howarth, CEO of Octopus Electric Vehicles, commented: “Electric cars are revolutionising our roads. With battery prices down 90% since 2010, electric cars are more affordable and can travel further than ever on a single charge. Drivers can fill up at home, work or on public networks, many saving over £1,000 every year on fuel. 

"We're delighted to be partnering with Lloyds to supercharge the transition, with an additional £550m to help drivers switch from old school gas guzzlers to a cleaner alternative."

Octopus has also opened up its full service electric car package to drivers outside of salary sacrifice. 

Ginny Buckley, Founder and CEO of Electrifying.com said: "We know that affordability is key to helping consumers make the switch to an electric car, with 90% of our audience telling us they’re too expensive. Salary sacrifice plays a huge part in making them more accessible, so congratulations to Octopus Electric Vehicles and its CEO Fiona Howarth for securing this funding - it’s great news for the UK’s hard pressed car buyers and will enable many more people to join the electric revolution."

Salary sacrifice - your questions answered

Octopus has more than 4,000 companies signed up to its salary sacrifice scheme