This article is adapted from an original post by Mike Butcher who writes on ButtonDown.
A few days ago, Octopus Energy and BYD launched a revolutionary product in the UK—and astonishingly, the tech press missed it. At a glance, it looks like a car leasing deal. But dig deeper and it might be the most important moment in electric vehicle (EV) adoption since Tesla. Here’s what happened and why it matters.
The Deal
Octopus Energy, the UK-based renewable energy company, partnered with BYD (now the world’s top EV maker, surpassing Tesla) to offer a bundled vehicle-to-grid (V2G) solution:
£300 per month gets you:
A BYD Dolphin EV
A bi-directional charger
A “smart tariff” (Octopus Intelligent) that lets your car earn while it sits parked
How It Works
With V2G tech, your EV becomes a "battery on wheels":
It charges when electricity is cheap
It sends power back to the grid when electricity is expensive
This stabilizes the grid and reduces reliance on fossil fuels
Drivers can essentially charge their car for free, or even earn money from it
The Numbers
Octopus says an average driver (7,500 miles/year) could:
Save £620 per year compared to regular EV charging
Save nearly £1,000 compared to a petrol car
Achieve this by plugging in ~20 times/month for 12 hours each time
This setup makes daily car ownership not just greener but economically smarter.
Bigger Picture: The “Apple” of EVs?
This might not be about just one EV deal—it could redefine how cars are sold, powered, and owned.
Like Apple bundling hardware, software, and services, Octopus is bundling car, energy, and grid connectivity
The result? A seamless, simple, and cost-effective experience—an “iPhone-on-wheels” moment
Just like early iPhones locked into Vodafone or AT&T, Octopus could become the go-to grid partner for future carmakers
Strategic Implications
Octopus Electric Vehicles (launched in 2021) is now the UK’s largest EV-only leasing business
This puts Octopus in a prime position to scale the model, potentially partnering with other carmakers like Renault or Fiat
Legacy automakers and energy providers could be caught off guard, just like Nokia and BlackBerry were by the iPhone
Why It Matters
This isn’t just a car lease—it’s a business model innovation that:
Lowers the true cost of EV ownership
Offers a compelling alternative to petrol and diesel cars
Shows how software, hardware, and energy integration can transform an industry
If you’ve been waiting for EVs to make real economic sense, this is it. Octopus and BYD might have just sparked a quiet revolution—and the rest of the industry may need to catch up fast.
