Introduction
Electric cars are becoming increasingly popular, and 2024 is no exception. With advancements in technology, greater ranges, and more models to choose from, electric vehicles (EVs) are becoming a viable option for both personal and company use. For businesses, the choice of a company car must factor in various elements, including company car tax. In the UK, company car tax rates are influenced by the vehicle’s CO2 emissions, making electric cars an attractive option due to their lower emissions. In this article, we’ll explore five of 2024’s best-selling electric cars—BMW i4, Tesla Model 3, Porsche Taycan Cross Turismo, MG4, and the Fiat 500 Electric—and examine their suitability as company cars, particularly in relation to company car tax.
BMW i4
Overview and Specifications
The BMW i4 is a sleek, high-performance electric sedan that combines BMW’s signature driving dynamics with eco-friendly technology. The i4 comes in various trims, offering different power outputs and ranges to suit various needs.
Performance and Range
The BMW i4 is available in multiple variants, including the i4 eDrive40 and the more powerful i4 M50. The eDrive40 offers a range of up to 367 miles on a single charge, while the M50, with its dual-motor setup, provides a sportier experience with a slightly reduced range of around 316 miles. The i4’s acceleration is impressive, with the M50 variant capable of going from 0 to 60 mph in just 3.7 seconds.
Interior and Technology Features
Inside, the i4 boasts a luxurious and spacious cabin with high-quality materials and advanced technology. The latest iDrive system with a large curved display integrates navigation, entertainment, and vehicle controls seamlessly. The i4 also offers advanced driver-assistance features, ensuring both comfort and safety.
Company Car Tax Benefits
For example, BMW i4 83.9kWh eDrive40 M Sport 250kW Auto Tax Year 24/25:
- A 20% Tax payer pays £241.00 per year (£20.08 per month) in company tax to drive the above vehicle.
- A 40% Tax payer pays £482.00 per year (£40.16 per month) in company tax to drive the above vehicle.
Please note that this is company car tax, there is still a vehicle lease payment to pay on top of this.
The above images featured in this blog post have been provided courtesy of the BMW Group. All rights to these images are owned by the BMW Group. For more information and additional images, please visit the official BMW Group PressClub website.
Tesla Model 3
Overview and Specifications
The Tesla Model 3 continues to be a popular choice among electric car enthusiasts and company car users. Known for its cutting-edge technology and impressive range, the Model 3 is available in several configurations to suit different needs and budgets.
Performance and Range
The Model 3 is available in Standard Range Plus, Long Range, and Performance variants. The Long Range model offers an impressive range of up to 358 miles, while the Performance model focuses on speed, achieving 0 to 60 mph in just 3.1 seconds. The Model 3’s efficiency and Tesla’s Supercharger network make long-distance travel convenient.
Interior and Technology Features
The minimalist interior of the Model 3 features a central touchscreen that controls almost all of the car’s functions, from navigation to climate control. The car also includes advanced driver-assistance systems such as Autopilot, which can handle some driving tasks on highways, and Full Self-Driving (FSD) capabilities, which are continually being updated.
Company Car Tax Benefits
For example, Tesla New Model 3 Long Range AWD Auto Tax Year 24/25:
- A 20% Tax Payer pays £200.00 per year (£16.66 per month) in company tax to drive the above vehicle.
- A 40% Tax Payer pays £399.00 per year (£33.25 per month) in company tax to drive the above vehicle.
Please note that this is company car tax, there is still a vehicle lease payment to pay on top of this.
Porsche Taycan Cross Turismo
Overview and Specifications
The Porsche Taycan Cross Turismo is a versatile electric car that combines Porsche’s legendary performance with practicality. It’s designed for those who need more space and off-road capability without compromising on luxury and performance.
Performance and Range
The Taycan Cross Turismo offers several variants, including the 4, 4S, Turbo, and Turbo S. The range varies depending on the model, with the 4S providing up to 283 miles on a single charge. The Turbo S model, known for its thrilling performance, can accelerate from 0 to 60 mph in just 2.7 seconds.
Interior and Technology Features
Inside, the Taycan Cross Turismo is a blend of luxury and cutting-edge technology. The car features multiple screens, including a curved driver’s display and a central touchscreen. Porsche’s infotainment system is intuitive and offers numerous connectivity options. The Cross Turismo also provides more cargo space and rear headroom compared to the standard Taycan, making it a practical choice for families and business users.
Company Car Tax Benefits
For example, Porsche Taycan Cross Turismo New 105 kWh 4 350kW Auto Tax Year 24/25:
- A 20% Tax Payer pays £387.00 per year (£32.25 per month) in company tax to drive the above vehicle.
- A 40% Tax Payer pays £774.00 per year (£64.50 per month) in company tax to drive the above vehicle.
Please note that this is company car tax, there is still a vehicle lease payment to pay on top of this.
MG4
Overview and Specifications
The MG4 is an affordable electric hatchback that offers a practical and efficient solution for those looking to switch to electric driving. It’s a compelling option for company car users due to its balance of features, range, and cost.
Performance and Range
The MG4 comes with a choice of two battery options: a standard 51 kWh and a larger 64 kWh. The larger battery variant offers a range of up to 270 miles on a single charge. The car’s electric motor provides a smooth and responsive driving experience, making it suitable for city driving and longer commutes.
Interior and Technology Features
Inside, the MG4 offers a comfortable and modern cabin with user-friendly technology. It features a central touchscreen infotainment system with Apple CarPlay and Android Auto integration. The car also comes with various safety features, including adaptive cruise control and lane-keeping assist.
Company Car Tax Benefits
For example, MG MG4 EV SE Long Range 150kW 64kWh Auto Tax Year 24/25:
- A 20% Tax Payer pays £118.00 per year (£9.80 per month) in company tax to drive the above vehicle.
- A 40% Tax Payer pays £236.00 per year (£19.66 per month) in company tax to drive the above vehicle.
Please note that this is company car tax, there is still a vehicle lease payment to pay on top of this.
Fiat 500 Electric
Overview and Specifications
The Fiat 500 Electric is a compact city car that brings the iconic Fiat 500 into the electric era. It’s perfect for urban driving and offers a stylish and eco-friendly option for company car users.
Performance and Range
The Fiat 500 Electric is equipped with a 24 kWh or a 42 kWh battery, with the larger battery offering a range of up to 199 miles on a single charge. While it’s not designed for long-distance travel, its compact size and nimble handling make it ideal for city commutes.
Interior and Technology Features
The interior of the Fiat 500 Electric is stylish and functional. It includes a 10.25-inch touchscreen infotainment system with navigation, Apple CarPlay, and Android Auto. The car also features a range of driver assistance systems, such as traffic sign recognition and autonomous emergency braking.
Company Car Tax Benefits
For example, Fiat All-Electric 500 Hatchback (RED) Electric 24kWh 93hp Auto Tax Year 24/25:
- A 20% Tax Payer pays £100.00 per year (£8.33 per month) in company tax to drive the above vehicle.
- A 40% Tax Payer pays £200.00 per year (£16.66 per month) in company tax to drive the above vehicle.
Please note that this is company car tax, there is still a vehicle lease payment to pay on top of this
The above images featured in this blog post have been provided courtesy of the Fiat Group. All rights to these images are owned by the Fiat Group. For more information and additional images, please visit the official Fiat Group media website.
Comparative Analysis
Performance Comparison
When comparing the performance of these five electric cars, the Porsche Taycan Cross Turismo stands out with its high-performance variants, offering exceptional acceleration and handling. The BMW i4 and Tesla Model 3 also deliver strong performance, particularly in their higher-end variants. The MG4 and Fiat 500 Electric, while less powerful, provide adequate performance for everyday driving needs.
Range Comparison
Range is a crucial factor for electric vehicles, especially for company car users who may need to travel longer distances. The Tesla Model 3 and BMW i4 lead in this area, with ranges exceeding 350 miles for their Long Range and eDrive40 variants, respectively. The MG4 offers a respectable range of up to 270 miles, while the Fiat 500 Electric’s range is more suited to urban environments.
Technology and Features Comparison
In terms of technology, the Tesla Model 3 is a frontrunner with its advanced Autopilot and Full Self-Driving capabilities. The BMW i4 and Porsche Taycan Cross Turismo also offer high levels of technology and luxury features. The MG4 and Fiat 500 Electric, while more budget-friendly, still provide modern infotainment and safety features, ensuring a well-rounded driving experience.
Company Car Tax Benefits Comparison
When considering company car tax benefits, the MG MG4 stands out as the most cost-effective option for both 20% and 40% taxpayers, making it an attractive choice for budget-conscious businesses. The Fiat 500 Electric follows closely, offering low tax rates suitable for urban drivers. The BMW i4 and Tesla Model 3 offer moderate tax benefits with higher luxury and range, while the Porsche Taycan Cross Turismo, despite its higher tax rates, compensates with superior performance and luxury features.
