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
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