Alphabet, the fleet leasing arm of BMW Group, has launched its electric vehicle (EV) service range AlphaElectric in the UK, having launched earlier in 2013 in Germany.

The service will provide vehicle finance for EVs alongside fleet analysis and charging point consultation and installation, with the option to tie into Alphabet’s corporate car sharing scheme, AlphaCity.

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Saying there was no question of e-mobility (the European term for electric transportation) taking hold in the UK, Richard Schooling, chief executive of Alphabet GB, explained AlphaElectric would include a consultation side to help businesses assess their EV needs.

This would include the mix of 100% EV models, range-extender models (which include a non-electric motor to power the electric battery when needed), and hybrids required by fleets, as well as the options available for installing residential and workplace charging points.

Although Alphabet would be using CAP to calculate the future worth of an EV model, Paul Hollick, commercial director, said the company was prepared to take a risk on residual values and not pass on the costs of a lease.

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Trial leasing offers on EVs through AlphaElectric will comprise of packages called Discovery and Comfort.

Kit Wisdom, mobility solutions manager at Alphabet, likened the Discovery package to a "try-before-you-buy" scheme, with companies able to take a Toyota Prius or BMW i3 on a limited term rental package (£300 and £500 a month, respectively), after which they would be offered up to £500 discount on the price of either model.

Meanwhile, companies using the Comfort package would take an EV but be offered a swap for a combustion-engine model, rather than an early termination on the EV, after six months of use.

Similar to, but separate from, the BMW Access package on EVs from BMW Financial Services, Alphabet also announced it would offer companies using EVs daily-rental access to combustion-engine models when needed. Packages ranged from £160 a year for seven days’ access, to be taken at any point in the 12-month period, to £700 for 36 days’ access. Cars would be provided by a third party.

Wisdom said fleet was "part of the story" for EVs gaining market share in the UK, just as much of the car market depended on fleet, but had hopes for AlphaElectric in London, currently the "biggest car-sharing city in Europe".

Further coverage and analysis of the AlphaElectric launch will be published in the November issue of Motor Finance magazine.

richard.brown@timetric.com