London-based Fulham Cabs, which has been running London Electric Vehicle Company’s (LEVC) TX hybrid-electric taxi since March 2018, now operates the largest fleet of electrified taxis in the UK.
John Flynn, owner of Fulham Cabs, initially grew his fleet to 120 TX taxis via conventional vehicle funding methods such as contract hire. However, through use of a Transport-as-a-Service (TaaS) finance solution from Octopus Group, Flynn has since added 60 more TX taxis, taking the total to 180.
The TX model uses LEVC’s eCity technology, which offers 80 miles (130km) of zero-emission all-electric range with a total combined driving range of 377 miles (606km) thanks to the vehicle’s on-board range-extender petrol engine. This results in fuel savings of around £110 per week for drivers.
Some 3,000 TX taxis have been sold since launch and over 2,500 are now in operation in London. The TX is capable of seating six people and features a panoramic roof, onboard wi-fi and charging points for mobile phones and laptops.
“I’ve been looking to add more vehicles to my fleet due to the fact they are so popular with both drivers and passengers,” said Flynn. “I found Octopus’ financing solution to be the ideal way to make this happen due to its flexibility. Ultimately that’s a huge benefit when you’re running the UK’s largest electrified taxi fleet.”
The financing solution from Octopus Group, which is available to a range of commercial fleet operators, matches repayments to rental income and usage, balancing repayments across the portfolio of vehicles funded to reduce financial volatility and help with budgeting.
In addition to financing, Octopus’ TaaS solution includes real-time fleet data, enabling fleet managers and owners to optimise the operational efficiency of their vehicles.
