The switch to electric vehicles (EVs) is no longer just an innovative choice—it’s a smart business decision. EVs offer cost savings, environmental benefits, and improved employee morale—all positive factors that can contribute to boosting your bottom line.
Smart Energy Decisions’ 2022 State of Vehicle Fleet Electrification (VFE) study surveyed 230 organizations from different industries and found that almost half (48%) have established goals or are in the planning and implementation stages of VFE, compared to only 32% in 2021.
Despite global concerns like rising inflation and supply chain disruptions, there is still an abundance of enthusiasm to expand the use of EV fleets. Federal, state, and local efforts are central to driving such growth; California and New York have mandated zero-emission vehicles by 2035 for cars and light trucks while 14 states have embraced the Zero-Emission Vehicle (ZEV) program. While the effects of President Biden’s recently passed Inflation Reduction Act are being understood, efforts to electrify vehicle fleets and increase a nationwide charging network will continue.
Advantages of EV Fleets
With the EV revolution well underway, businesses have begun to take notice of the advantages that come with electrifying their fleets. Going electric not only reduces emissions and helps your business stay compliant with environmental regulations, but it also delivers significant positive economic impacts.
Here are some of the key benefits associated with switching your commercial fleet to electric vehicles:
Lower maintenance costs
The streamlined design of EVs results in fewer moving parts, translating into lower maintenance costs compared to traditional vehicles. EVs require less frequent oil changes, brake replacements, and other routine maintenance tasks, allowing companies to redirect their time and resources toward other areas.
Reduced fuel costs
Electric power is significantly cheaper than fossil fuels. With increased access to charging infrastructure and advancements in charging technology, it’s becoming easier than ever for businesses to implement an EV fleet. Refueling costs can often be eliminated altogether.
Improved employee satisfaction
Drivers that are assigned EVs often report higher satisfaction with their job due to a perceived increase in convenience and comfort that comes with driving an EV. This can result in improved employee relations, lower turnover rates, and enhanced brand reputation.
Electrifying your commercial fleets is an investment that reaps multiple long-term rewards—economically, culturally, and environmentally.
An achievable goal
Fleet vehicle electrification is no longer a pie-in-the-sky idea, but an achievable goal. With the right tools, resources, and expertise, any business can achieve decarbonization and save costs in the process. Through electric vehicle adoption and the right EV charging strategy, businesses can revolutionize their fleets and pave the way for a more sustainable future.