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Lex Autolease announces £1m fund to incentivise EV purchase at ZEV Summit

Thu 13 September 2018 | Back to news list

Leasing giant Lex Autolease is launching a new fund to offer contributions of £1,000 towards the cost of 1,000 new pure electric vehicles. The company - the leasing arm of Lloyds Banking Group - made the announcement at the ZEV Summit, held in Birmingham on 11 September; an event  which the company sponsored.

The fund is for the first 1,000 Lex Autolease customers (business and personal) who sign up for a pure electric vehicle from January 2019. It will be in addition to the Government's Plug-in Car/Van grants.

Lex Autolease buys 4% of all new cars and vans sold in the UK. It operates a fleet of over 380,000, including over 18,000 alternatively-fuelled vehicles.  Tim Porter, managing director of Lex Autolease, the vehicle leasing arm of Lloyds Banking Group, said: “In July, the Government set out its ambition for at least half of new vehicles to be ultra-low emission by 2030.

“Our announcement today highlights our commitment to supporting this ambition and the role we, as the UK’s leading vehicle leasing provider, can play in helping to make it happen.”

The fund will also support Lex Autolease in doubling the size of its pure electric vehicle fleet.

Note: Earlier this year, Lombard/NatWest, another leading provider of finance for lease vehicles announced that it has joined the LowCVP. More details of that story here

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