V12 Vehicle Finance has committed to introducing a fully electric and hybrid fleet by June 2024 as part of its plan to reduce its carbon emissions.

The Solihull-based vehicle finance brand will convert its fleet of 21 vehicles ahead of the government’s plan to ban the sale of internal combustion engine (ICE) vehicles by 2030.

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Currently 30% of V12VF’s sales team have opted for a fully electric vehicle and 65% for a plug-in hybrid, making its fleet 95% sustainable and efficient. In the next 6 months, the company is aiming to reduce overall emissions by 70-80% in comparison to its present fleet, with a maximum cap set of 120g CO2/km for field-based employees that do not presently have infrastructure to install a charging point at home.

This commitment to reducing the company’s carbon footprint will also drive significant financial savings for the business and its drivers, within fuel costs, Benefit-in-Kind and Employer NI contributions. For instance, if the average employee travels 3,000 miles a month in an EV, they’ll be saving around £250 monthly in fuel costs and reducing CO2 emissions by 0.5 tonnes.

The business’s field and head office-based employees will be able to choose from a wide range of makes and models including BMW 330e, Mercedes-Benz C-Class and Tesla Model 3.

David Nield, managing director of V12VF, said: “As a company, we want to make sure we’re doing right by our customers, dealers and employees. Reducing our carbon footprint and emissions is a core part of that mission.

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“We’re encouraging all of our employees to move from fuel to either hybrid or fully electric cars. We want to lead by example by reducing our emissions, creating cost saving opportunities for our employees and offering attractive incentives through the latest models.”

In November, V12 created 10 new sales roles in 2021, including five internal promotions, to keep up with the demand for used cars and finance.