The Electric Car Scheme
The Electric Car Scheme is a UK B2B fintech platform that enables employers to offer employees HMRC-approved electric vehicle salary sacrifice schemes. It aggregates multiple lease providers, bundles charging access, and earns recurring admin fees plus credit broker commissions across thousands of UK employers.
- Company typePrivate
- Founded2021
- HeadquartersLondon, United Kingdom
- Headcount101–250
- GTM typeB2B
- OfferingServices
What The Electric Car Scheme does
The Electric Car Scheme is a UK-based fintech platform, founded in 2020-2021 and headquartered in Hayes, that operates an HMRC-approved EV salary sacrifice employee benefits scheme. The company sells exclusively through a B2B channel, targeting UK employers of between 10 and 100,000+ employees and offering them a cost-neutral employee benefit in which the admin fee is set equal to the Employer's Class 1A National Insurance savings. Its core technology is a cloud-based platform aggregating multiple UK lease providers through a single interface, integrated with employer payroll systems via API or SFTP, and exposing an employee self-serve quote and ordering portal (app.electriccarscheme.com) plus a dedicated employer dashboard. Product breadth includes the core EV salary sacrifice scheme, The Charge Scheme (bundled charging benefit with 55,000+ public chargers via PlugSurfing and discounted home charging via OVO Energy), Complete Employer Protection (day-one coverage against early termination costs with no excess or limits), and a used-EV option priced 30-40% below new equivalents.
The Electric Car Scheme monetises through two streams: a recurring salary sacrifice administration fee equal to employer NI savings (typically 3-4 year recurring lease term per car) and credit broker commissions from lease providers on each vehicle ordered. It is regulated by the FCA as a credit broker (FRN 968270), operates as an Appointed Representative for insurance distribution (Lloyd Latchford, FRN 496330) and credit broking (Marshall Management Services, FRN 667174), is a BVRLA member, and holds B Corp certification alongside a 4.9-star Trustpilot rating. To date the company has raised approximately £10M in venture funding: a £2.5M seed round led by Triple Point Ventures in 2022 and a Series A of approximately $9.5M led by 13books Capital in August 2024, with co-investors including Adjuvo, Ascension, Bayern Kapital, Seedcamp and Triple Point Ventures. Co-founder and CEO Thom Groot leads the company alongside Marketing Director Gaurav Ahluwalia.
The Electric Car Scheme firmographics
Firmographics- Name
- The Electric Car Scheme
- Legal name
- The Electric Car Scheme Limited and The Electric Car Scheme Holdings Limited
- Website
- https://electriccarscheme.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- The Electric Car Scheme is a UK B2B fintech platform that enables employers to offer employees HMRC-approved electric vehicle salary sacrifice schemes. It aggregates multiple lease providers, bundles charging access, and earns recurring admin fees plus credit broker commissions across thousands of UK employers.
- Ownership category
- akta.pro rank
The Electric Car Scheme industry classification
Industry- Product category
- Employee Benefits Administration (EV Salary Sacrifice)
- NAICS
- Passenger Car Leasing (532112), Passenger Car Rental and Leasing (53211), Passenger Car Rental (532111), Automotive Equipment Rental and Leasing (5321)
- SIC
- Services-Auto Rental & Leasing (No Drivers) (7510), Finance Lessors (6172)
- akta.pro primary industry
- Passenger Vehicle Leasing & Long-Term Rental (Cars/SUVs) (TLABAHAA)
- akta.pro secondary industries
- EV Passenger Vehicle Leasing (Cars/SUVs) (TLABAAAH), EV Charging Payment & Reimbursement Programs (Public/Depot Charging) (TLABAMAK)
Keywords
Where The Electric Car Scheme is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
The Electric Car Scheme business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Others
Revenue model
- Salary Sacrifice Administration Fee: The Electric Car Scheme charges employers a fee equivalent to the Employer's Class 1A National Insurance savings generated by the salary sacrifice arrangement. This makes the scheme cost-neutral to the employer — the fee is entirely offset by the Employer's NI savings. Revenue is recurring over the lease term (typically 3-4 years) and scales with the number of cars on scheme.
- Credit Broker / Lease Intermediation: The company acts as a credit broker (FCA authorised, FRN 968270), connecting employees with lease finance providers and earning commissions from lenders and lease providers on each vehicle ordered through the platform.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Renault 5 – 252 miles range, from £234/month, Save 38% |
| Subscription | Monthly | Tesla Model Y – 314 miles range, from £412/month, Save 27% |
| Subscription | Monthly | Audi Q6 e-tron – 325 miles range, from £569/month, Save 28% |
| Subscription | Monthly | Used EVs – available at 30-40% lower cost than new equivalents |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels8 records
The Electric Car Scheme product offering
Product offeringCore offering
The Electric Car Scheme operates an HMRC-approved salary sacrifice platform that enables UK employers to offer their employees electric vehicles through gross-salary deductions, delivering 20-50% savings versus personal leasing. The platform aggregates multiple UK lease providers to source best-in-market pricing on new and used EVs, bundles insurance, maintenance, servicing, breakdown, road tax and home charging into a single all-inclusive monthly payment, and automates payroll, HMRC and P11D reporting for employers at zero net cost via Employer National Insurance savings.
Product overview
The Electric Car Scheme is a single, unified EV salary sacrifice platform that enables UK employers to offer their employees access to electric vehicles through tax-efficient salary sacrifice arrangements. The core product is the EV Salary Sacrifice Scheme, an HMRC-approved arrangement allowing employees to save 20-50% on any electric car by paying from gross salary before tax. The scheme bundles insurance, maintenance, and servicing into a single all-inclusive monthly payment and is cost-neutral for employers. The Charge Scheme is included as a standard add-on providing discounted EV charging. Complete Employer Protection, launched in October 2023, shields businesses from early termination risks. The platform also supports used electric vehicles, typically priced 30-40% below new equivalents, making the benefit accessible to employees across all salary levels.
Differentiator
Problem solved
Functional benefit
Products and services
- EV Salary Sacrifice Scheme An HMRC-approved salary sacrifice arrangement delivered to UK employers (10 to 100,000+ employees) that lets their employees lease any new or used electric car by paying from gross salary before Income Tax and National Insurance. The scheme delivers 20-50% savings versus personal leasing, bundles insurance, maintenance, servicing, breakdown, road tax and home charging into one all-inclusive monthly payment, and runs at zero net cost to the employer because the administration fee is offset by Employer Class 1A National Insurance savings.
- The Charge Scheme An integrated EV charging benefit included as standard with every car ordered through the EV Salary Sacrifice Scheme. It provides employees with access to over 55,000 public chargers through PlugSurfing and discounted home charging rates (e.g. via OVO Energy's Charge Anytime tariff at 7p per kWh), reducing charging costs by 20-50% via salary sacrifice and removing the home-charging access barrier for employees without off-street parking.
- Used EV Salary Sacrifice The pre-owned electric vehicle option within the EV Salary Sacrifice Scheme, with hundreds of vehicles available at any time. Used EVs typically cost 30-40% less than new equivalents, making the salary sacrifice benefit accessible to employees across all salary bands; more than half of drivers choose used vehicles, with adoption rates of nearly 40% at Williams F1 and around 30% at Cygnet Healthcare.
- Complete Employer Protection A protection feature bundled with the EV Salary Sacrifice Scheme that shields employers from unexpected early termination costs from day one of any lease. It covers employee resignation, dismissal, long-term sickness, family-friendly leave and redundancy with no excesses or limits, and is described as a unique offering in the UK salary sacrifice market.
Quantifiable outcome
- Employees save 20-50% on EV leasing costs compared to private leasing
- +6 more outcomes
Companies that use The Electric Car Scheme
Customer profileNamed customers20 records
Segments2 records
Ideal customer profiles3 records
The Electric Car Scheme technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature4 records
The Electric Car Scheme partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- OVO EnergycoreThe Electric Car Scheme partnered with OVO Energy to provide customers with 6,000 miles of free EV charging and access to OVO's Charge Anytime tariff at 7p per kWh for home charging. The collaboration addresses affordability barriers to EV adoption, with research showing 68% of respondents identified cost as a primary concern. Both companies highlighted salary sacrifice schemes as an effective pathway to make EVs more accessible.
- PlugSurfingcoreThe Charge Scheme (bundled with every EV through The Electric Car Scheme) provides access to 55,000 public chargers through PlugSurfing partnership. This enables employees to charge at home, at work, or on public networks with substantial cost savings through salary sacrifice.
- Lloyd Latchford Group LimitedcoreThe Electric Car Scheme Limited is an Appointed Representative of Lloyd Latchford Group Limited (FRN 496330) for insurance distribution, authorised and regulated by the FCA. This partnership enables the company to distribute insurance products as part of its all-inclusive EV leasing packages.
- Marshall Management Services LtdcoreThe Electric Car Scheme Holdings Limited is an Appointed Representative of Marshall Management Services Ltd (FRN 667174) as a credit broker. This FCA-authorised partnership enables the company to offer vehicle financing and credit broking services.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
The Electric Car Scheme competitors and assessment
Company assessmentDirect peers
- Tusker: UK market leader in EV salary sacrifice schemes for employers; directly competes with The Electric Car Scheme on the same product, customer base (UK employers), and salary sacrifice mechanism. Now owned by Toyota, adding OEM backing.
- Octopus Electric Vehicles: UK EV salary sacrifice provider operating as part of Octopus Energy Group. Directly comparable product offering to The Electric Car Scheme, with similar employer-led B2B distribution model and integrated home charging proposition.
- DriveElectric: UK specialist in electric vehicle leasing for both consumers and businesses, including salary sacrifice schemes. Operates an aggregator-style model across multiple funders, comparable to The Electric Car Scheme's multi-provider approach.
- Salary Exchange (Fleet Alliance): UK provider of salary sacrifice car schemes (formerly Fleet Alliance's salary sacrifice arm), directly competing with The Electric Car Scheme in employer-led EV and ICE salary sacrifice schemes with similar HMRC-approved structures.
- Zenith Vehicle Solutions: UK vehicle leasing and fleet management provider offering salary sacrifice car schemes to employers. Comparable target market and product mechanics to The Electric Car Scheme, with a broader fleet management portfolio.
- Select Vehicle Leasing: UK broker-style leasing specialist offering personal and business leasing including salary sacrifice channels. Competes in employer-led EV leasing, with a multi-funder aggregator model similar to The Electric Car Scheme.
Broad incumbents
- Arval UK: BNP Paribas-owned full-service fleet leasing and mobility provider operating in the UK. Offers corporate EV leasing and salary sacrifice-style arrangements as part of a broader portfolio, directly relevant to The Electric Car Scheme's employer customers.
- Ayvens (ALD Automotive / LeasePlan UK): Global mobility player formed from the merger of ALD Automotive and LeasePlan, operating major UK fleet and salary sacrifice offerings. A broader incumbent competing for the same UK employer customers with deeper balance sheet and OEM relationships.
- BMW UK Salary Sacrifice: OEM-led salary sacrifice scheme operated by BMW for UK employers and employees. A broader incumbent leveraging a captive vehicle supply to compete for the same employer benefit channel.
Emerging players
- Electric Miles: UK emerging player in the EV salary sacrifice space, offering employer-led schemes with a tech-enabled platform. Comparable model and customer segment to The Electric Car Scheme, though smaller scale and earlier stage.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
The Electric Car Scheme social profiles
Digital presenceThe Electric Car Scheme compliance and trust
Trust signalCompliance4 records
The Electric Car Scheme financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Electric Car Scheme leadership team
Management profileNumber of profiles
Profiles3 records
The Electric Car Scheme funding detail
Funding detailFunding overview
Funding rounds3 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Electric Car Scheme M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Electric Car Scheme
What does The Electric Car Scheme do?
The Electric Car Scheme operates an HMRC-approved salary sacrifice platform that enables UK employers to offer their employees electric vehicles through gross-salary deductions, delivering 20-50% savings versus personal leasing. The platform aggregates multiple UK lease providers to source best-in-market pricing on new and used EVs, bundles insurance, maintenance, servicing, breakdown, road tax and home charging into a single all-inclusive monthly payment, and automates payroll, HMRC and P11D reporting for employers at zero net cost via Employer National Insurance savings.
Is The Electric Car Scheme a public or private company?
The Electric Car Scheme is a private company. It is classified as venture growth investor backed and is currently operating.
When was The Electric Car Scheme founded?
The Electric Car Scheme was founded in 2021. It employs 101 to 250 people.
Where is The Electric Car Scheme based?
The Electric Car Scheme is headquartered in London, United Kingdom, in the Europe region.
How does The Electric Car Scheme make money?
Two revenue lines are on record. Salary Sacrifice Administration Fee is the primary driver. The others are credit Broker / Lease Intermediation.
Who are The Electric Car Scheme's main competitors?
Direct peers on record are Tusker, Octopus Electric Vehicles, DriveElectric, Salary Exchange (Fleet Alliance), Zenith Vehicle Solutions and Select Vehicle Leasing. Broad incumbents are Arval UK, Ayvens (ALD Automotive / LeasePlan UK) and BMW UK Salary Sacrifice. Electric Miles is listed as an emerging player.
Does The Electric Car Scheme have an API?
No public API is recorded for The Electric Car Scheme.
What industry is The Electric Car Scheme in?
The Electric Car Scheme's product category is Employee Benefits Administration (EV Salary Sacrifice). Its primary akta.pro industry code is TLABAHAA, Passenger Vehicle Leasing & Long-Term Rental (Cars/SUVs), with a secondary code of TLABAAAH, EV Passenger Vehicle Leasing (Cars/SUVs). Its NAICS code is 532112 and its SIC code is 7510.