U.K. vehicle and environmental campaigners have been burning the midnight oil to come up with more reasons to switch to electric vehicles.

Go Ultra Low, a joint motor industry and government campaign, says as many as 435,000 small- and medium-sized enterprises (SMEs) each could save up to £1,440 ($1,949) a year with their first EV.

This adds up to £625 million ($846 million) a year in cumulative savings for U.K. businesses.

But a survey of the region’s SMEs, commissioned by Go Ultra Low, found many businesses are not aware of these potential savings.

When assessing vehicle options, only 35% of businesses say they consider whole-life costs of running a vehicle, with the major considerations remaining at the more basic level of contract-hire rates (32%) and list price (12%).

Despite this, 67% say they would consider all-electric and plug-in hybrid vehicles with lower whole-life costs than gasoline and diesel equivalents.

Go Ultra Low head Poppy Welch says cost savings are a priority for companies of all sizes.

“Fleet operators from both SMEs and large companies that look beyond a vehicle’s initial purchase price or monthly rental stand to save their companies thousands of pounds every year,” she says in a statement.

“Electric vehicles can return significant operational savings – just one electric car or van could save SMEs up to £1,440 annually. With an ever-increasing number of plug-in models now available, it’s even easier for businesses to identify an ultra-low-emission vehicle that suits their needs.”

Go Ultra Low research also found U.K. companies using EVs for business operations are more than 2 1/2 times as likely to offer them to their employees as company cars.

Company-car drivers are eligible to sign up for the Electric Vehicle Homecharge Scheme, allowing them to claim up to £500 ($690) off the cost of installing a dedicated home-charge point.

Go Ultra Low brings together a consortium of vehicle manufacturers, government and the Society of Motor Manufacturers and Traders.