Fleets and lease companies should get the vital missing residual value and whole-life data for new electric cars after vehicle pricing specialist, CAP agreed to work with a specialist manufacturer group to speed up the flow of information about forthcoming electric vehicles.

Fleets have been reluctant to acquire electric vehicles (EVs) because of the difficulty in predicting what they will be worth at the end of their typical three-year lifecycle.

CAP has been vocal in its criticism of the manufacturers who are developing EVs most notably Nissan, Peugeot and Renault for the lack of information about vital issues such as battery life and ownership.

CAP claims the uncertainty surrounding the technical specifications of the vehicles is preventing it from providing crucial information such as residual values and whole-life costs to the fleet industry.

“We can’t do anything until we know what these electric vehicles will cost. The manufacturers are telling us what they can, but this is a whole new area and there is still a lot of uncertainty,” said Martin Ward, CAP’s manufacturer relationship manager.

Now CAP will work with the Society of Motor Manufacturers and Traders’ (SMMT) Electric Vehicle Group in a bid to speed up the flow of information about forthcoming EVs.

It hopes to secure information on issues such as if batteries will be sold or leased to EV buyers.

Following confirmation of next year’s £5,000 showroom grant for new electric car purchases (see page 2) which will attract more fleets and private buyers to EVs, answers to CAP’s concerns have become more pressing.

In addition, the first new electric cars are due to arrive in the UK early next year, with Mitsubishi's i-Miev leading the way in January, followed by the Nissan Leaf and Renault Fluence in March. Peugeot has not given an exact date for when its iOn city car will arrive.

“We have received limited information on EVs so far. There are all sorts of issues – what sort of plug will be needed and how much will it cost, who will own the batteries and what are the implications for supply of electricity through the National Grid,” said Ward.

“Working with the SMMT will be a good move – we can all share ideas and see if we can work together.”

Late last year the SMMT’s Electric Vehicle Group appointed Catherine Hutt, formerly of electric vehicle specialist Modec, as its business development manager. She has been tasked with encouraging high-level industry discussion aimed at influencing political and public attitudes towards the new technology.

Commenting on the news that CAP will work with the SMMT, the BVRLA’s spokesman, Toby Poston, said: “There is no market ahead of us to point to, so we are pleased that CAP is focusing on electric vehicles.

“The sooner it can give us guidance on residuals, the better. The lease model is crucial to getting significant numbers of electric vehicles on the market.”