Are there enough affordable EVs to lease?

Affordable EVs - Are there enough to lease?

Nobody expected the transition to electric cars, or vans, to be easy. For a nation entrenched in the art of petrol and diesel transport, a complete overhaul of the fuel we use to power our transport was always going to be problematic, even in the more educated and connected society that we exist in.

In 2025, we are just 5 years into the mass-adoption of battery technology in the UK, so this does need to be taken into consideration before we rush to critique the ongoing process. As noted in GB News  there are some who believe that the ambitious ZEV Mandate targets will be missed due to the reticence for UK customers to move into “expensive electric cars”. But is this really a fair or accurate comment to make?  

The article is preying upon the ZEV Mandate which was put in place by the Conservative Government to commence the phase out of NEW combustion vehicles being sold in the UK. Starting with 2024, where 22% of the new car registrations must be zero-emission, each year more and more manufacturers must ensure that the options they sell qualify under the regulatory framework.

In 2025, some 28% of the cars sold must be zero-emission with 2028 necessitating 58%. By 2030, the government is expecting that 80% of the new cars being sold in the UK to be some form of zero-emission, electric or otherwise. Consequences for failure will lead to fines for “non-compliant” registrations but the Labour Government have said that other factors will be considered such as battery or vehicle production being invested into within the UK.

However, the article is suggesting that there are still obstacles and barriers to these aims using a report from the Cox Automotive team.

One of the main complaints is that customers believe manufacturers should provide better information on a cost analysis, including the ownership and running costs along with the need for more detailed guides on how the EV operates and what warranties / service packages are in place.

Top of the list, which is not a surprise, is that of cost. In the survey, 7 in 10 drivers confirmed that they would not pay more for an EV compared to a petrol or diesel alternative For example, if VW are selling an ID4 and ID5 for well beyond the cost of a petrol or plug-in Tiguan, the researchers are suggesting this will not prove to be a wise move for the brand.

The comments relating to education, information and EV assessments are warranted, with very few businesses taking the time to conduct this exercise with their customers. The EVC™ which e-car lease has developed and utilises, does all of this but is unfortunately one of the few examples in the UK for new EV sales and leasing.  

However, are brands making too many expensive and over-priced electric cars?

There is some credence to this, with a swathe of £40,000+ battery vehicles on the market already (and which are now subjected to the new Expensive Car Tax). Part of the rationale here is that manufacturers misread the UK’s appetite for EVs by creating options which were, and are, very company-car specific.

Perhaps there was not a clear understanding that the retail and personal markets would be more conservative on the vehicles they would take, especially in the absence of any tax breaks, grants and incentives which limited companies enjoy.

However, some manufacturers are more attune to the market conditions and the cultural shift within the UK. The South-Korean Kia group, who are aiming to have vehicles in every class, have already brought a more affordable electric car into the UK - the Kia EV3. At present, you can choose between:

•  58.3 kWh Air - from £32,995 this includes 17” alloys, 12” screen, navigation, heated front seats, heated steering wheel, 12” driver display, climate control, front/rear parking sensors, parking camera, blind-spot collision avoidance, forward collision avoidance and highway driving assist;
•  81.4 kWh Air - from £35,995 this increases the battery and range;
•  81.4 kWh Gt-Line - from £39,495 this adds 19” alloys, flush door handles, lumbar support, LED headlights, leather seats (artificial), privacy glass, wireless phone charger, digital key and GT Styling; and
• 81.4 kWh Gt-Line S - from £42,995 this adds heated rear seats, 360 degree camera, HUD, memory seats, Harmon Kardon sound, smart power tailgate, ventilated seats, sunroof and premium relaxation seats.

In addition, Kia is about to introduce another cheaper EV for the UK to enjoy, The upcoming EV2, called the Concept EV2, is going to be formally announced on the 27 February 2025.

The exact size and capacity of the new EV2 is yet to be announced but this is going to be targeting the supermini segment which has seen cars like the Renault 5 and MINI Cooper. The brand have confirmed the new hatch will be a single motor and will not have the 800V technology for 200kW DC+ charging.

But the cost-cutting measures will be hoping to bring this cost-effective option more in-line with the £22,000 - £27,000 mark which the Renault group have set. Jumping back to the recent article on the lack of affordable options, this next tranche of EVs should hopefully address these concerns.

But how does EV3 perform?

•  EV3 Standard Range - the 55 kWh lithium-ion battery will offer 0 – 62 times of 7.5 seconds, 106 mph top speeds and 150 kW (or 201 hp). This model is a FWD option. Expect a combined winter range of 170 miles with warmer weather allowing for 230 miles - 200 miles combined. On charging, the 11 kW AC max will allow 6 hour 0 – 100% charging times with the 100 kW DC maximum allowing 30 minute 10 – 80% times. This has a cargo volume of 460L and vehicle fuel equivalent of 147 mpg. The EV3 will feature bidirectional charging - a 3.6kW AC Vehicle-to-Load (V2L). This car can tow 300kg (braked and unbraked). A heat pump is available as an option; and

•  EV3 Long Range - the 78 kWh lithium-ion battery will offer 0 – 62 times of 7.7 seconds, 106 mph top speeds and 150 kW (or 201 hp). This model is a FWD option. Expect a combined winter range of 235 miles with warmer weather allowing for 325 miles - 280 miles combined. On charging, the 11 kW AC max will allow 8 hour and 30 min 0 – 100% charging times with the 135kW DC maximum allowing 33 minute 10 – 80% times. This has a cargo volume of 460L and vehicle fuel equivalent of 145 mpg. The EV3 will feature bidirectional charging - a 3.6kW AC Vehicle-to-Load (V2L). This car can tow 750kg (unbraked) and 1000kg (braked). A heat pump is available as an option.

For cost-effective and value Kia lease options just head across to our dedicated deals section, or just get in touch with our team on 01942 910 001 or by emailing us at [email protected]