Octopus chosen as preferred sal/sac provider for HSBC

HSBC UK has chosen Octopus Electric Vehicles as its preferred supplier to provide salary sacrifice electric car schemes to its corporate customers. 

In the past three years, Octopus has helped more than 5,500 companies launch electric car employee benefit schemes, with clients including PepsiCo, WPP and Luceco.

Fiona Howarth, CEO at Octopus Electric Vehicles, said: “Salary sacrifice is by far the cheapest way to pick up a new EV, however the benefits are not exclusively for drivers, but for their employers too. 

“Companies are able to cut their emissions, help retain staff by offering a brilliant perk and save money. 

“By partnering with HSBC UK, we hope to make businesses of all sizes aware of one of the most attractive business perks around right now.”

The announcement builds on the existing partnership between the two brands formed in 2022, when HSBC UK provided funding to Octopus to expand its electric car fleet.

The move marks the next step in a broader, long-term strategic alliance that has seen HSBC UK add to its suite of sustainable products, while Octopus continues to support more people to make the switch to green driving.

Robert King, UK head of commercial banking sustainability at HSBC UK, said: “Supporting the transition to net zero is a vital part of our UK strategy. 

“The Octopus EV salary sacrifice scheme is a great example of how we work with our partners to deliver innovative solutions to our customers, in this case offering a more sustainable travel alternative for our clients’ employees at a reduced cost.”

Read more from Fleet News on how to make your salary sacrifice scheme a success.