Usage-based leasing models proposed to ease business EV fleet transition amid 20% fuel price rise
By Eve
BNP Paribas Leasing Solutions CEO Neil Pein argues that usage-based models can help businesses manage EV transition risk as petrol prices in the UK and EU have risen approximately 20% since early 2026, reaching around £1.50 per litre in Britain. EVs now account for 30% of the UK new car market and over 20% across mainland Europe (a 16% increase on 2025), yet barriers remain for commercial fleet operators seeking to electrify at scale.
Why it matters: Fleet procurement teams face mounting pressure to electrify as fuel costs climb, but capital and operational uncertainty still slow rollout. Alternative financing structures such as usage-based leasing may unlock faster deployment by shifting risk away from balance sheets and aligning costs with actual utilisation.