The benefits of driving an EV in London in 2024

If you've been considering switching to green mobility for a while, 2024 is the perfect year for this step. Driving an EV gives your numerous benefits, from financial incentives to charge exemptions, helping you increase your rideshare income. All that while driving a new-model car, with zero emission and plenty of technology. 

If you’re still not convinced it’s worth switching, here are ten advantages of driving an electric car for ridesharing in London. 

1. Fuel Savings 

In the past year, fuel prices have reached record highs. Filling up your tank is now more expensive than ever. Switching to an electric car can bring the charging costs down by 50% compared to a petrol car, depending on where and how you choose to charge your EV. 

To get an idea of how much you can save, let’s take the Volkswagen ID.3 as an example. To fully charge it with a rapid 50 kWh public charger, you pay around £16. For a similar petrol model, the Volkswagen Golf Estate diesel, you pay around £24 for the same mileage. On an average of 700 miles driven weekly, you save at least £130 a month. 

2. ULEZ and Congestion Charge Exemption  

The two charges that directly affect Uber drivers’ earnings are the ULEZ charge and Congestion Charge. 

Electric cars are fully exempt from paying the ULEZ charge, saving you £12.50 daily. The ULEZ area will expand in August 2023 to cover all London boroughs. This will make it impossible for rideshare drivers to avoid the area and not pay the charge if their car isn’t ULEZ compliant.

Driving an electric car also saves you from paying the daily £15 Congestion Charge. The Congestion Charge covers Central London, an area profitable for rideshare drivers due to high ride demands and frequent surge prices. EVs are the only type of vehicle exempt from paying this charge until December 2025.

3. Uber Incentives  

As Uber aims to upgrade their entire car fleet in London to electric vehicles by 2025 , they offer several benefits to Uber drivers who switch to green mobility.

Uber Green allows riders to call a fully electric car instead of a petrol or hybrid one for no extra cost. Riders are more driven to contribute to a cleaner-air London, so they might choose this option over Uber X, giving you as an EV driver a competitive advantage. 

In 2021, Uber also launched the Uber Clean Air plan to help drivers buy their own EV. For all trips you took between 16 January 2019 and 14 March 2022 in London inside the M25, Uber charged your riders a small fee, which went into your EV Assistance. Similar to a savings account, you can now access the money to buy a new electric car. As Splend is an official Uber partner, you can join our Flexi own plan and get a discount using your Clean Air fund. 

4. Access to Zero Emission/Low Emission Streets 

To reduce pollution and increase air quality, some areas in London have become Zero or Low emission streets. Therefore, high-pollution vehicles will be fined if entering these streets, located for now in Hackney, Islington and City of London. Rules like these are expected to apply to more London streets in the coming years.

EV drivers have the competitive advantage of not having to decline ride demands because the pick-up/drop-off location is in this area.

5. Easy and Fast Charging Process 

Several years ago, when EVs first entered the market, there were fewer charging options, with long queues and waiting times. London’s charging infrastructure now offers numerous options for each driver’s needs.

According to ZapMap, Greater London has the most charging points in the UK – 11,550, followed by the South-East with 4,772 and Scotland with 3,759.

There’s also a more convenient and cheaper option in the long run, installing a home charging unit.

6. Increased Range  

With most EV models now having an average range of 250 miles, running out of juice when reaching long distances should no longer be a concern. While petrol cars consume less on the motorway and are thirsty in the city, EVs do the exact opposite, making them ideal for rideshare driving.

One of our Splend customers told us he managed to get 405 miles on a single charge driving an MG ZS in London, while the manufacturer guarantees a 273-mile range. 

7. Easier to Maintain 

Contrary to popular belief, EVs are cheaper and easier to maintain. While servicing an EV can still be pricy compared to a petrol car, the good news is you won’t need it that often. With fewer parts to break down, no internal combustion engine, no oil change and an extended battery warranty, you can save money on car running costs.

If you opt for our Flexi Try or Flexi Own plans, you no longer have to worry for car servicing and maintenance fees, since they’re included in your subscription.

8. Financial Incentives 

The UK Government offers financial support to those who want to switch to green mobility via the Electric Vehicle Homecharge Scheme.

You can access funding of 75% (up to £350) towards installing an EV home charging unit. 

There are also other perks, offered by public or private institutions, such as being exempt from road tax, discounted airport parking fees or reduced charging fees.

9. Zero Emissions 

We all make small efforts to save our planet through actions such as recycling, waste reduction or carpooling, but switching to an EV is a significant step towards this goal. You get all the benefits of driving an EV in London while contributing to cleaner air in your city. 

10. Smooth and Unique Driving Experience 

Switching to an EV will change the way you experience driving. EVs are safer, easier to drive and offer more stability than petrol cars. They’re also well known to offer a quiet and comfortable driving experience, an essential bonus for rideshare drivers who spend hours inside their cars. EVs are so smooth and relaxed to drive that it’s a delight both for drivers and their passengers.

About Splend

At Splend, we believe in drivers. We know their vehicles need to work harder than most; that they drive more miles than most; that their insurance is hefty; their maintenance costs high and that they can face unreasonable finance rates – which is a heavy load to carry on their own.

That’s why at Splend, we exist to support rideshare drivers with a new model, that takes all those car ownership costs, and provides them for less, with lower purchase prices, better rates, lower servicing and insurance costs – all for one weekly repayment, all in one place.