The report, by TRL, says companies with over 420 vehicles could save an average of £350,000 per year if just ten per cent were swapped for electric cars.
By doing this, CO2 emissions would be cut by more than five per cent – a figure all the more impressive because it includes emissions required to fuel electric vehicles.
The reduction in CO2 emissions has an effect on an individual vehicle’s road tax rates (electric cars offer free UK road tax in Band A) and, for business users, have a positive impact on Benefit-in-Kind (BIK) tax rates.
The report took data from 201 fleets and a total of 484,000 vehicles to conduct the study and found electrification can reap rewards.
And these figures drastically improve if fleets were to replace half of their cars with electric vehicles, according to the report.
Each business with a large fleet could save as much as £1.75m annually if they were to have a 50/50 split between electric cars and more traditional petrol or diesel models.
Electric cars are increasingly popular in the UK as new models arrive in dealerships and charging infrastructure improves.
Chief among the electric cars currently, or soon to be, on sale in the UK are those built by Renault. These include the Renault Fluence, a practical four-door saloon with a range of 100 miles, and the quirky, two-seat Renault Twizy.
They will be joined next year by the new Renault Zoe, a Clio-size small hatchback that will be the most affordable fully electric car on the market at around £13,000.
The new, three-door Renault Zoe will go on sale from 2013 at Perrys Renault dealerships.