Octopus Electric Vehicles

What Octopus Electric Vehicles does

Octopus Electric Vehicles is a UK-based electric-vehicle-only leasing company and wholly-owned subsidiary of Octopus Energy Group, founded in 2018 and headquartered in London. The company operates three leasing lines — personal contract hire via the Intelligent EV product, employer-sponsored salary sacrifice schemes, and business contract hire for sole traders, limited companies, and fleets — and bundles vehicles with home chargers, smart energy tariffs, maintenance, breakdown cover, insurance, and public charging access as a single integrated package. Its customer base reached 45,000+ drivers on the road and 7,500+ employer salary-sacrifice agreements since the leasing arm launched in April 2021, capturing an estimated 7-8% share of new UK EV registrations.

The core technology platform combines Octopus Electroverse (aggregated access to over 1 million public chargers across the UK and Europe), KrakenFlex machine-learning-driven smart charging (Intelligent Octopus Go tariff at 7-8p/kWh off-peak), and the Power Pack Bundle — a Vehicle-to-Grid leasing product pairing a BYD Dolphin with a Zaptec Pro bidirectional charger that allows customers to export stored energy back to the grid during peak demand (4-7pm) for annual savings of approximately £620 versus standard variable tariffs. The V2G capability traces back to the 2018 Innovate UK-funded Powerloop trial with 135 Nissan LEAF participants and has since been extended to Ford vehicles and launched in Germany in 2025.

Revenue is generated primarily through recurring monthly lease payments (subscription model, monthly billing) ranging from £199 for entry-level vehicles to £949 for premium EVs such as the Porsche Taycan Cross Turismo, supplemented by revenue from companion Octopus Energy electricity tariffs, commission from embedded motor insurance distributed through partnerships with Root Platform and Admiral Pioneer, and referral fees from a partner network of employee benefits platforms, wealth managers, and car dealers. GTM is hybrid: enterprise field sales signing up UK employers for salary sacrifice schemes, a direct-to-consumer digital channel via octopusev.com, and channel partnerships with manufacturers including BYD, Geely (Octopus EV serves as Geely's first UK lease partner), and Europcar.

Name

Octopus Electric Vehicles

Legal name

Octopus Electric Vehicles Limited

Website

https://octopusev.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Electric Vehicle Leasing

NAICS

Passenger Car Rental (532111), Passenger Car Leasing (532112), Automotive Equipment Rental and Leasing (5321)

SIC

Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

EV Passenger Vehicle Leasing (Cars/SUVs) (TLABAAAH)

akta.pro secondary industries

EV Charging-Integrated Rentals (Bundled Charging, Roaming, Home Charger Add-ons) (THADANAJ), Passenger Vehicle Leasing & Long-Term Rental (Cars/SUVs) (TLABAHAA), EV Fleet Leasing & Fleet Management (EV-Focused) (THADANAI)

Keywords

• Electric vehicle leasing
• Salary sacrifice schemes
• Vehicle-to-grid technology
• Smart charging infrastructure
• Ev fleet services

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Operations

Revenue model

1. EV Vehicle Leasing: Monthly lease payments from personal contract hire (PCH), salary sacrifice schemes, and business contract hire (BCH). Customers pay monthly for vehicle use with maintenance, servicing, and repairs often included. Pricing ranges from £199-£949/month depending on vehicle and contract terms.
2. Energy Tariffs: Revenue from Octopus Energy tariffs including Intelligent Octopus Go and Power Pack tariff. Customers pay for electricity usage, with EV-specific tariffs offering lower rates. V2G customers receive free home EV charging credited against their electricity bill.
3. Embedded Insurance Distribution: Commission revenue from arranging motor insurance as part of the leasing process. Partnership with Admiral Pioneer and Root Platform enables real-time insurance pricing and policy issuance within the leasing journey.
4. Referral and Partnership Fees: Revenue from affiliate and introducer partnerships where partners refer clients to Octopus EV salary sacrifice schemes. Partners receive training, marketing materials, and commission for successful referrals.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

Octopus Electric Vehicles is an EV-only leasing company selling personal contract hire, employer salary sacrifice schemes, and business contract hire for electric vehicles. Leases bundle the car with a home charger, maintenance, servicing, breakdown cover and MOTs, and integrate with parent Octopus Energy's Intelligent Octopus Go tariff and Electroverse public-charging network. Its flagship Power Pack Bundle combines a V2G-enabled BYD Dolphin lease with a Zaptec Pro bidirectional charger so customers can export stored energy back to the grid.

Product overview

Octopus Electric Vehicles operates as an EV-only leasing platform offering three primary leasing models: Personal Contract Hire (Intelligent EV), Salary Sacrifice for employers, and Business Contract Hire for fleets. All leasing packages bundle car with servicing, maintenance, breakdown cover, and access to Octopus Energy's integrated ecosystem including Intelligent Octopus Go smart tariff (7p/kWh), Octopus Charge home chargers, and Octopus Electroverse public charging network (1M+ chargers). The Power Pack Bundle with V2G technology enables drivers to export energy back to the grid. The company expanded into Germany in 2025 with plans to launch V2G there. Insurance is offered through embedded partnerships with Root/Admiral Pioneer.

Differentiator

Problem solved

Functional benefit

Brands

• Powerloop: Vehicle-to-Grid (V2G) technology initiative that enables electric cars to store green energy and return it to the grid during peak demand times.
• Power Pack Bundle
• Intelligent EV
• Electroverse

Products and services

• EV Salary Sacrifice Scheme Employer-sponsored salary sacrifice EV leasing for UK workers, offering up to 40% pre-tax savings (0% BIK until April 2027), free employer setup and an HR dashboard for scheme administration.
• Intelligent EV Personal Leasing Personal Contract Hire for individual consumers to lease an EV with all-inclusive monthly payments covering servicing, maintenance, MOTs, repairs, road tax and fair wear and tear, plus discounted charging via Octopus Energy tariffs.
• Business Contract Hire (BCH) Fleet EV leasing for sole traders, partnerships and limited companies with 100% VAT recovery on maintenance and 50% on lease payments, optional maintenance packages, soft credit check on directors and a 2% BiK rate for dividend-paid company-car directors.
• Power Pack Bundle (V2G lease package) Bundled V2G lease package including a BYD Dolphin EV, a Zaptec Pro bidirectional home charger, free home charging for the entire lease term on the Power Pack tariff, and full servicing/maintenance. Customers export stored energy back to the grid during 4–7pm peak demand.
• Octopus Electroverse Public Charging Network Public charging network aggregation app providing one-tap access to 1M+ chargers across the UK and Europe, with built-in route planning and a 10% discount for Intelligent EV customers.
• Octopus Charge (Smart Home Charger) Smart home EV charger with standard installation, optimised for the Intelligent Octopus Go overnight tariff and available with a £400 discount through the salary sacrifice scheme.
• Intelligent Octopus Go (EV Saver smart tariff) Smart EV-specific energy tariff with six hours of off-peak charging at 8p/kWh, plus an EV Saver 1p/kWh discount for Octopus EV customers (7p/kWh), with machine-learning-optimised charging scheduling via KrakenFlex.
• Embedded EV Motor Insurance Motor insurance distributed within the EV leasing process via Root Platform and Admiral Pioneer, replacing fleet-based pricing with personalised risk-based premiums issued in real time.

Quantifiable outcome

• Up to 40% savings compared to post-tax personal leasing through salary sacrifice
• +5 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability2 records

Feature5 records

Partnerships

15 partnerships are on record, tiered major, minor and core.

• UbitricitymajorTechnology or Integration · 1 April 2026Ubitricity provides on-street charging points for Octopus EV's kerbside charging offer. 20,000 Ubitricity points are included in the 50% cheaper kerbside charging program for drivers without driveways.
• Connected KerbmajorTechnology or Integration · 1 April 2026Connected Kerb provides on-street charging infrastructure for Octopus EV's kerbside charging offer, expanding access to affordable EV charging for drivers without home driveways.
• InstaVoltminorStrategic or Co-development Partner · 1 February 2026InstaVolt joined Octopus EV and other industry leaders in responding to government consultation on EV charging signage. Industry coalition backs proposals to treat EV charging equally with petrol in national road sign regulations.
• char.gyminorStrategic or Co-development Partner · 1 February 2026char.gy joined InstaVolt, Octopus EV, and other industry leaders in calling for clear EV charging signage guidelines. Research shows over half of drivers actively seek roadside signs to locate EV chargers.
• FordcoreStrategic or Co-development Partner · 1 January 2026Partnership to expand V2G technology to Ford vehicles, positioning EVs as potential home power sources that could earn money for owners while stabilizing the national grid.
• Root PlatformmajorTechnology or Integration · 1 January 2026Root Platform collaborated with Octopus EV to embed motor insurance into the EV leasing process. The partnership uses Root's insurance platform to enable real-time pricing and policy issuance within the salary sacrifice leasing journey.
• Admiral PioneermajorTechnology or Integration · 1 January 2026Admiral Pioneer partnered with Root Platform and Octopus EV to integrate motor insurance into the EV leasing process through salary sacrifice schemes. The collaboration provides personalized insurance quotes replacing traditional fleet-based pricing.
• Geely AutomajorChannel Partner/ Reseller/ Distributor · 1 October 2025Geely Auto partnered with Octopus EV as its first lease partner in the UK. Octopus EV facilitates vehicle access and charging solutions for Geely customers, marking a significant step in Geely's UK launch strategy.
• EuropcarminorGTM or Marketing Partner · 1 September 2025Europcar partnered with Octopus Electroverse to promote EV charging services in their rental operations. Collaboration aims to expand EV infrastructure and adoption within the rental industry.
• Octopus Energy (Germany)coreStrategic or Co-development Partner · 1 September 2025Octopus EV leasing business launched in Germany as European debut, bringing V2G technology developed in UK to German market. Partnership includes BYD V2G-ready EVs, Zaptec chargers, and smart tariff.
• BYDcoreStrategic or Co-development Partner · 1 January 2025Strategic partnership to offer the Power Pack Bundle - V2G-enabled BYD Dolphin lease with free home charging. BYD supplies V2G-capable EVs while Octopus provides the energy tariff and charging infrastructure. Partnership positions both companies at forefront of UK V2G commercialization.
• ZapteccoreTechnology or Integration · 1 January 2025Zaptec supplies the Pro V2G home charger included in the Power Pack Bundle. The bidirectional charger enables energy export from EV back to the grid. Zaptec Pro is installed by Octopus Energy Services engineers as part of the lease package.
• MotorwayminorGTM or Marketing Partner · 1 January 2025Partnership with Motorway to help customers sell their existing cars when switching to EV. Motorway handles the sale process while Octopus EV offers £200 Electroverse credit to customers completing both transactions.
• UK Power NetworksmajorTechnology or Integration · 1 January 2020UK Power Networks collaborated with Octopus on Powerloop V2G trial, allowing chargers to be connected to the network with full export capability. Partnership essential for V2G grid integration.
• 7,500+ EmployerscoreChannel Partner/ Reseller/ DistributorOver 7,500 employers have signed salary sacrifice agreements with Octopus EV, enabling their employees to access EV leasing with up to 40% tax savings. Numbers grew from 7,000 in earlier reports.

Scale indicators15 records

Recent moves1 record

Expansion highlights6 records

Direct peers

• Arval UK: BNP Paribas-owned fleet leasing and mobility provider with growing salary-sacrifice EV offering, directly competing for UK employer EV benefit schemes.
• Lex Autolease: UK's largest vehicle leasing company, offering fleet and salary-sacrifice EV schemes directly competitive with Octopus EV's employer channel. Both target UK payroll-based EV adoption with bundled services.
• Volkswagen Financial Services (EV Plans): OEM-linked salary-sacrifice (e.g., Octopus-style "electric car schemes") provider for UK employers, competing in the same employee-benefits EV leasing segment with bundled packages.
• ALD Automotive: Major UK and European multi-brand vehicle leasing and fleet management player with salary sacrifice and full-service leasing products overlapping Octopus EV's business contract hire and salary sacrifice offerings.
• LeasePlan UK: European fleet leasing leader offering EV-focused leasing and salary-sacrifice schemes to UK employers, comparable in target customer and bundled service model.
• Tusker (Lloyds Banking Group): UK salary-sacrifice car scheme specialist owned by Lloyds; directly competes for employer EV benefit mandates and operates a similar bundled-maintenance model.

Emerging players

• Wallbox (EV charger provider): Provider of bidirectional (V2G) home chargers like Zaptec, integral to V2G lease bundles such as Octopus EV's Power Pack; a comparable V2G hardware ecosystem peer.
• Electric Miles / Onto: Subscription-based EV leasing services in the UK targeting consumers and businesses with all-inclusive monthly EV access; comparable model to Octopus EV's Intelligent EV personal leasing.

Broad incumbents

• EDF Energy / Octopus competitor tariffs (e.g., OVO Energy EV): UK energy suppliers offering EV-specific tariffs and bundled mobility propositions; comparable to Intelligent Octopus Go's role as energy-leasing integration layer.
• BP Pulse / Chargemaster (bp pulse): Large incumbent EV charging network operator with bundled EV energy and mobility services in the UK; comparable to Octopus Electroverse's public charging aggregation play.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/octopusev
• Facebookfacebook.com/OctopusEV
• LinkedInlinkedin.com/company/octopusev
• Instagraminstagram.com/octopus_ev

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Octopus Electric Vehicles