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Norton Motorcycles’ employees jump into electric cars and benefit from savings of up to 40%

Byadmin

Jul 15, 2024
  • Iconic British motorcycle manufacturer adopts EV salary sacrifice scheme
  • Employees can save up to 40% on a new electric car

Norton Motorcycles has been in business for over 125 years but the company is still moving with the times by offering its employees the chance to switch to electric cars and benefit from cost savings of up to 40%.

Thanks to adopting a salary sacrifice scheme in partnership with DriveElectric, Norton employees can reduce the cost of driving a new EV by hundreds of pounds per month.

Founded in 1898, Norton has won eight World Championships and 94 TTs, and the company is currently developing an electric motorbike as part of an expansion programme which includes the appointment of Richard Arnold, former CEO of Manchester United. But what do a motorbike manufacturer’s employees (known as the ‘Nortoneers’) think about electric cars?

“As a member of the leadership team at Norton, I feel that I’m playing my part in developing our people and this iconic brand. Motorcycles already represent a sustainable way of getting around but giving our ‘Nortoneers’ the option to take an electric car via salary sacrifice amplifies our collective contribution to a decreased carbon footprint and is a lovely additional perk we’re offering to our enthusiastic team”, says Rob Ridgway, Head of Human Resources, Norton Motorcycles.

DriveElectric offers one of the widest selections of EV salary sacrifice deals, with something for everyone, from compact city cars to large SUVs, and used EVs can now be included.

Salary sacrifice enables employees to save up to 40% on an electric vehicle by exchanging part of their salary; the gross amount sacrificed reduces the employee’s income tax and national insurance (NIC) liability, as well as the employer’s NIC liability.

Examples of cost reductions offered by salary sacrifice compared to a personal lease for an employee include a £2,358 annual saving on a new MG4 SE, or a £3,317 annual saving on a new Tesla Model Y Long Range, for a 40% taxpayer.

Norton Motorcycles is offering DriveElectric’s ‘Complete’ salary sacrifice solution to its employees, which includes insurance and early termination protection. A Pod Point 7kW Solo 3 home charger with an exclusive EV tariff can also be included in the package if required, allowing drivers to make significant savings on home charging.

Salary sacrifice is a cost-effective way for an employee to switch to a new EV, with zero upfront outlay, in addition to enjoying lower vehicle running costs. The scheme also helps employers to attract, reward and retain the best employees, and accelerate an organisation’s progress towards its net zero goals.

Customers can search, select and order an EV entirely online – 24 hours a day, 365 days a year – and businesses can control and oversee salary sacrifice electric vehicle leases using DriveElectric’s EV Hub.

With EV expertise stretching back many years, DriveElectric has dedicated consultants to advise about electric cars, supported by tax and compliance specialists, and an on-call team to answer any questions. DriveElectric will assist organisations to promote salary sacrifice schemes to employees and can organise EV test drive events.

Salary sacrifice customers can also benefit from DriveElectric Plus, a smart charging solution which can reduce EV charging emissions by up to 89%.1 DriveElectric Plus is accelerating the significant progress already made by DriveElectric to support companies to reduce their carbon footprint, achieve their net zero targets, and become more sustainable. Combined with the company’s experience with electric vehicles dating back more than 15 years, DriveElectric Plus allows DriveElectric to provide unrivalled support to businesses on their Environmental, Social and Governance (ESG) journey.

Mike Potter, Managing Director of DriveElectric, says “I’m delighted that Norton Motorcycles has joined an ever-growing list of organisations that are benefiting from salary sacrifice. Employees can save thousands of pounds per year on new or used EVs, with zero tailpipe emissions minimising impacts on climate change and local air quality. Norton’s employees receive support throughout the journey from our EV experts, ensuring that knowledgeable answers are provided to any questions about electric cars and charging.”

DriveElectric is an electric vehicle leasing company that has been helping organisations and individuals to adopt EVs to save money, lower emissions and transition to low carbon energy since 2008. DriveElectric offers market-leading expertise and a single point of contact for vehicle choice, funding, charging and driver engagement along with a tailored service for businesses operating EVs.

DriveElectric agreed a strategic investment partnership with Sumitomo Corporation in 2021 in order to scale up its expert service to meet increasing customer demand, as well as to expand the technology offering of the business. Sumitomo Corporation is a leading Fortune 500 global trading company, founded in Japan in 1919.

www.drive-electric.co.uk

By admin

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