Octopus EV and Mastercard team up to supercharge UK businesses’ transition to EVs
- Mastercard business cardholders gain access to affordable, tax-efficient electric cars via Octopus EV's salary sacrifice scheme
- Partnership offers an additional £100 EV charging credit for employees of signed-up businesses
- Customers who switch to EVs can reduce their carbon emissions, while saving up to 40% on car costs
London, 5th August 2025 – Octopus Electric Vehicles (‘Octopus EV’), the UK’s leading 100% electric vehicle (‘EV’) leasing company, is teaming up with Mastercard to enable small businesses to benefit from its salary sacrifice scheme, which helps businesses and employees switch to electric vehicles.
Through the Mastercard Business Bonus programme, small business cardholders can sign up to Octopus EV’s innovative salary sacrifice scheme and offer their employees an additional £100 charging credit when ordering an electric car.
Salary sacrifice allows employees to lease new or nearly new EVs by sacrificing part of their pre-tax salary, unlocking savings of up to 40% on monthly car costs.
This is currently the cheapest way to get an EV, while also helping businesses reduce their carbon footprint and offering an attractive employee benefit.
The partnership strengthens Mastercard's ongoing commitment to support UK businesses, while Octopus continues to help more UK drivers make the switch to cleaner, cheaper driving.
Fiona Howarth, Founder of Octopus Electric Vehicles, commented: “Salary sacrifice remains the cheapest way to drive a new EV. And the benefits are not just for drivers, but for their employers too.
“Companies can cut their emissions, retain staff and save money. By partnering with Mastercard, more businesses, of all sizes, can discover one of the most attractive employee benefits around right now.”
Darren Deal, Senior Vice President, Fintech, Government and Digital Partnerships at Mastercard, said: “It’s great to team up with Octopus EV to help our small business cardholders access more sustainable travel alternatives. Through our Business Bonus programme, Mastercard collaborates with trusted partners to deliver innovative, tailored, solutions that help businesses grow, and this is a prime example of that.” In just four years, Octopus has helped over 6,000 companies – including PepsiCo, Jacobs Douwe Egberts and TPX Impact – launch EV salary sacrifice schemes.
These schemes not only help reduce emissions but also boost employee recruitment and retention, with 75% of employees ranking financial savings as their top priority in employee benefits.
In addition, charging on Octopus Energy's smart EV tariff, Intelligent Octopus Go, can save drivers up to £700 a year compared to diesel and petrol costs.
Britain’s stellar EV growth – now the number one EV market in Europe – has been helped by government incentives, notably salary sacrifice and low Benefit in Kind (BiK) taxation rates, alongside the Zero Emissions Mandate (ZEV).
Almost all (96%) EV drivers are happy with their vehicles and say it is likely their next car will also be electric, shows research commissioned by Octopus Electric Vehicles from Opinion Matters5.
For more information about Octopus EV’s salary sacrifice scheme, please visit the website.
-Ends-
Notes to editors:
1. Octopus Electric Vehicles - Is it better to join a salary sacrifice car scheme or take car allowance?
2. Survey of 2,000 people in the UK with a driving licence and in full time employment - conducted with YouGov, September 2022.
3. Based on an average millage of 7.6k (2023 average), efficiency of 0.303kWh/mile (EV average) and rate of 7p/kWh.
5. Research conducted by Opinion Matters (16/7/24-23/7/24) of 1,000 17+ UK EV drivers (400 having used an EV for 3 years or longer) and 2,000 17+ ICE vehicle drivers.
Press Contact
Octopus Energy:
Sam Salehi
0204 5308 369
Octopus Electric Vehicles:
Octopus Electric Vehicles, part of the Octopus Energy Group, was launched in 2018 to make it easy for drivers to make the switch to clean, electric transport. With over 133 electric cars now available from 30 different brands, Octopus Electric Vehicles’ team provides everything drivers need to take the road in a new EV.
Offering an all-in-one service, Octopus lease the cars, install charge points, provide specialist EV energy tariffs, and offer access to over 900,000 public charge points across Europe via Octopus Electroverse - all with a 4.9* rating on Trustpilot.
Octopus Electric Vehicles also specialises in salary sacrifice schemes - an employee benefit that makes driving a brand new electric car even cheaper than the petrol or diesel equivalent through tax savings. Placing customer experience first, Octopus Electric Vehicles has designed the scheme to be simple for an employer to set up and run, and support them at every step. Drivers can typically save between 30-40% every month on the cost of their EV; and at zero-cost for an employer to set up, it’s great for their team, their hiring and retention, and for their sustainability goals.
More information can be found at www.octopusev.com
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