loveelectric, led by visionary entrepreneur Steve Tigar, drives the electric vehicle revolution with its innovative and accessible EV salary sacrifice platform, paving the way for a greener and more sustainable future.
Steve Tigar is leading the charge for affordable and accessible electric vehicle adoption with his company loveelectric. Founded in 2021, loveelectric is an industry-leading EV salary sacrifice platform that removes the cost and hassle of leasing a brand-new electric vehicle, benefiting both employers and employees.
Tigar was inspired to start loveelectric to accelerate the transition to EVs, stating “There has never been a more time-critical moment to move away from fossil-fuelled cars, and our business model ensures that transitioning to an EV is more affordable and accessible than ever.” As an entrepreneur at heart, Tigar found the perfect opportunity to apply his skills and experience in leading loveelectric.
Since launching just over a year ago, loveelectric has experienced rapid growth and success. In its first 18 months of trading, loveelectric secured over £100m in credit for its 700 business customers. The company’s monthly revenue has skyrocketed from £0k to over £300k. Despite heavy investment in its technology, people and processes, loveelectric is cashflow positive.
To support this growth, loveelectric takes an innovative approach to streamline the customer experience. Most recently, the company launched a pre-loved EV marketplace to ensure its offering is first in class. The unique marketplace offers drivers immediate delivery, ultimate lease flexibility, and protection for when the unexpected might occur; for corporate customers, it ensures the highest level of risk protection if a lease must end early, joining loveelectric’s market-leading early termination protection suite.
The future looks bright for loveelectric and Tigar. Revenue is projected to quadruple in the next 3-4 years. The UK Government’s support of low Benefit in Kind rates for EVs provides a long runway for loveelectric’s core electric vehicle salary sacrifice offering. Looking towards the future, loveelectric is primed to lead the burgeoning electric car market. The used EV market, in particular, is an area of considerable growth, with the company planning to launch a public used electric car platform to the estimated £100bn market from 2028.
Tigar and loveelectric are finalists at the 2023 Great British Entrepreneur Awards, known as “The Grammys of Entrepreneurship,” taking place November 20th in London. To learn more about this inspiring entrepreneur and his mission to accelerate the transition to EVs, visit https://www.loveelectric.cars/.