Q. Which fleet vehicles make most financial sense to replace with an EV?
If you are looking to add EVs to your fleet you need to consider a number of factors...
A. EVs present a number of opportunities to improve your fleet. In the right applications, they have a substantially lower total cost of ownership (TCO) than gas and diesel vehicles. In fact, a study with Enterprise Fleet Management found they could replace 13% of their fleet today with EVs and save up to $33 million in the near-term. You can check out the case study here.
Cost savings can be realized in a number of ways. Overall, EVs have fewer moving parts and require less maintenance. They don’t require oil changes or transmission fluid flushes, there are no timing belts or spark plugs to be replaced, and since they utilize regenerative braking there is less wear on brake pads. Not only does all of this reduce their operating cost, it also provides a higher level of reliability.
Electricity is generally less expensive than fossil fuels and it’s price is much more regulated, allowing for more predictable budgeting. An example of this can be seen with the City of Seattle. In order to meet their ambitious goal of cutting carbon emissions 50% by 2025, they began replacing their existing fleet vehicles with EVs. Upon reviewing their data they discovered they saved $2 million in fuel and spent only $100,000 on electricity.
Lastly there is a growing number of corporate and governmental mandates coming into effect in order to combat the effect of climate change. Transitioning to EVs will be critical to continue the seamless operations of your fleet.
Learn more about how to confidently transition to EVs using real-world data here.
Vice President, Sustainability Solutions at Geotab
If you are looking to add EVs to your fleet you need to consider a number of factors...
Fleets should start investigating electric vehicles as soon as possible since transitioning to EVs won’t happen overnight...
Electric vehicles have improved a lot over the last few years, specifically when it comes to their range capabilities...
Adding EVs to your fleet requires planning and how long it takes will differ depending on each fleet’s unique situation...
The decision between battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) comes down to...
There are some slight differences when operating EVs that drivers should be aware of...
For every metric you would use to measure the performance of the internal combustion engine (ICE) vehicles in your fleet there will be an equivalent one for EVs...
Allowing employees to take a company EV home has many benefits, for both the individual and company...
Planning out charging infrastructure can be one of the more daunting tasks in your EV adoption strategy, but it doesn’t need to be...
Temperature is one of the more noticeable conditions and it is the one most likely to vary throughout the year...
Determining the total cost of ownership (TCO) of any vehicle in your fleet is critical for understanding its financial impact. So what does this entail for electric vehicles?
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