Octopus Energy handing £750 to customers who have their own driveway

Octopus Energy and HSBC UK have strengthened their partnership - with the bank now recommending Octopus Electric Vehicles as preferred salary sacrifice provider to all UK corporate customers. Each EV cuts business emissions by an estimated 2.5 tonnes of CO2 each year - while saving employees up to 40% on car costs.

And Octopus' smart tariff allows EV motorists to save £750 all by charging up at home on their own driveway. Octopus’ salary sacrifice package empowers businesses to offer staff a seamless transition to electric vehicles (EVs) - benefiting both their balance sheets and environmental impact. Octopus’ salary sacrifice allows drivers to save up to 40% every month on a brand-new electric car. The package is an easy all-in-one service – providing the car, charger and a discounted energy tariff.

For every employee who switches from a petrol or diesel car to an EV, HSBC UK’s business clients can cut their carbon emissions by up to 2.5 tonnes a year. The scheme also helps companies attract and retain top talent.

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Research from Octopus shows that 75% of employees place financial savings as their top priority in employee benefit. Salary sacrifice is one of the most lucrative benefits available to staff - saving them up to 40% on their monthly driving costs.

While charging on Octopus’ smart EV tariff, Intelligent Octopus Go, can save drivers £750 a year compared to fossil fuel costs. Fiona Howarth, CEO at Octopus Electric Vehicles, commented: “Salary sacrifice is by far the cheapest way to pick up a new EV, however the benefits are not exclusively for drivers, but for their employers too. Companies are able to cut their emissions, help retain staff by offering a brilliant perk, and save money. By partnering with HSBC UK, we hope to make businesses of all sizes aware of one of the most attractive business perks around right now.”

Robert King, UK Head of Commercial Banking Sustainability at HSBC UK, said: “Supporting the transition to net zero is a vital part of our UK strategy. The Octopus EV salary sacrifice scheme is a great example of how we work with our partners to deliver innovative solutions to our customers, in this case offering a more sustainable travel alternative for our clients employees at a reduced cost.”