All-electric racing series Formula E has introduced a salary sacrifice electric vehicle (EV) scheme for more than 200 eligible employees.
Through the scheme, which is provided by Tusker, employees will be able to access cost-effective and sustainable new and pre-loved EVs via a salary sacrifice arrangement. This includes an all-inclusive, tax-efficient package covering insurance, maintenance, breakdown assistance, and road tax for a fixed monthly amount. The aim is to enable employees to drive eco-friendly cars without the upfront costs.
The introduction of the scheme aligns with Formula E’s commitment to sustainability, ensures its employees can experience the benefits of EVs in their everyday lives, and access affordable, sustainable vehicles, in line with the organisation’s core values.
Formula E introduced the scheme after Liberty Global took a controlling stake last year, now owning 65% of its shares. As Liberty Global operates an EV salary sacrifice arrangement, Formula E wanted to do the same in order to provide a valuable benefit for staff.
Kat L’Oste-Tomkins, people director at Formula E, said: “Our salary sacrifice car scheme reinforces our leadership, brand reputation and credibility particularly when it comes to sustainability and EV adoption. While we work tirelessly with some of the most innovative automakers and race teams in the world to progress the development of EVs, we also wanted our workforce to benefit from that work too by being able to drive their cars as part of our company car provision. So, supporting eligible employees to drive EVs offers multiple wins. This salary sacrifice EV car scheme not only supports our vital environmental efforts, it also provides employees with substantial savings on the cost of an electric car.”
