London e-bike firm Forest has launched what it says is the “most affordable dockless and shared Cycle to Work scheme in the UK,” working out at 60 minutes cycling per day for approximately £1.
Forest is working in partnership with all the major UK benefits providers so employees can access the scheme through their company's existing benefits platform.
As with other Cycle to Work offerings, the employee pays for the subscription via their salary with a tax saving of up to 47%.
Based on a £29 per month Cycle to Work with Forest subscription, the firm says its offering is £155 cheaper per month than using the London Underground (zones 1-4) and £66 cheaper than London buses.
Forest is also keen to emphasise users will save on the maintenance, insurance and storage costs associated with private ownership.
Forest developed the offer off the back of an increase in the number of ‘heavy’ and ‘super' users of its bikes. Super users, defined as users who ride more than 21 times a month, have increased tenfold year-on-year, and heavy users, who ride 6-21 times a month, have increased fivefold over the same period.
Forest - which last year rebranded from HumanForest - launched a monthly subscription model, Forest Plus, back in October. The packages cost users £45 a month and enable them to ride for 60 minutes daily, and also remove parking fees.
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Jamie Richards, Forest head of commercial, said: “There are three winners here; our users who appreciate costs being kept low, companies who make national insurance savings and cities who get more people using active and sustainable mobility.
“We’re very proud to be offering the most affordable dockless scheme in London, in the midst of a cost of living crisis. In fact, one month using Forest’s Cycle to Work Scheme costs the same as only three days of trips on the London underground. What’s not to love?”
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