Zenith to offer customers electric vehicles

FLEET manager Zenith has launched a new strategy which will see electric vehicles made available to its customers.

The Leeds-based vehicle outsourcing specialist said it will also provide advice to determine whether or not an electric vehicle would be suitable for the specific needs of a driver.

Zenith is offering its E-Motion branded electric vehicles to both salary sacrifice and company car drivers.

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Ian Hughes, Zenith’s commercial director, said: “There is a wide range of electric and plug in hybrid vehicles available. A lot of the fear of change to electric cars is around adapting to new technology, range anxiety and charging times.

“We know they don’t suit everyone, however for those who make short journeys, particularly drivers who can commute and charge their car at home or at work every day within range, they can offer a great solution with very low running costs.”

He added: “These savings can more than offset any increases in rentals leading to lower cost motoring for some users and drivers are fully protected from any depreciation risks. We want to help our drivers to understand the different technologies now available.”

Mr Hughes said that with longer ranges for the new pure electric cars and range extenders or plug-in hybrids catering for longer journeys, there are electric cars out there that suit many driver groups.

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He said: “As the charging infrastructure and technology improves further they will become more practical for a larger population of people.”

Zenith recently completed a major refinancing to help it gear up for more organic growth and potential acquisitions.

The company agreed £91m in credit facilities with new and existing lenders, according to banking sources.

Led by chief executive Tim Buchan, Zenith provides company cars, commercial vehicles and employee benefits such as salary sacrifice to mid to large corporations across the UK.

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The business competes against Europe’s largest banks and motor manufacturers.

Zenith, which underwent a buyout in 2010 backed by the private equity arm of US investment banking giant Morgan Stanley, is the UK’s largest independent leasing, fleet management and vehicle outsourcing business and manages a fleet of more than 40,000 vehicles.

It is one of Yorkshire’s most visible private equity success stories.

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