Loveelectric hits used electric vehicle milestone

Broker Loveelectric has delivered more than 1,000 used electric vehicles (EVs) through its salary sacrifice scheme for second-hand cars, Reloved.

Furthermore, since launching its Live Vehicle Stock (LVS) API in partnership with Lex Autolease in October 2024, an additional 600 used EVs have been leased across the UK’s broker network.

By offering second-life EV leasing, Loveelectric says it has made electric cars more affordable and accessible for employees while supporting employers in reducing their Scope 3 emissions.

The LVS API, developed in partnership with Lex Autolease, enables distribution of used EVs to brokers and corporate fleets. 

More than 35 brokers nationwide, including Nationwide, DriveElectric and Planet Leasing, have now integrated with the LVS API, expanding market access to affordable re-leased EVs.

Historically, used car leasing has faced challenges with stock availability, inconsistent distribution, and inefficiencies in re-leasing, says Loveelectric. 

Managing inventory across multiple sales channels often led to duplicate selling and customer dissatisfaction. 

The API synchronises real-time inventory, eliminating stock duplication and ensuring seamless availability. 

By automating re-leasing, Loveelectric says it is improving market efficiency, ensuring tens of thousands of EVs can return to the road quickly. 

The environmental impact is equally significant, with an estimated 135,000t CO₂e reduction annually (IEA, 2021).

Steve Tigar (pictured), CEO of Loveelectric, said: “To meet the UK’s ambitious 2030 target to end the sale of new petrol and diesel cars, we need to make electric vehicles more accessible and affordable. A stable used EV market is crucial to that transition. 

“This milestone is proof that car leasing brokers can play a major role in accelerating second-life EV adoption. By enabling the market through technology and partnerships, we are breaking down barriers to EV adoption at scale.”

Collette Gunning, used leasing manager at Lex Autolease, added: “We are delighted to be working in partnership with Loveelectric. 

“Through the LVS API, we are unlocking the potential of used EVs, giving brokers and businesses a streamlined route to offer second-life EVs at scale. 

“As we expand the capabilities, we hope to continue the momentum of making the UK EV market even more accessible and affordable.”

Loveelectric has been also working with policymakers to ensure long-term stability in the used EV market.