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Cheaper to Operate: Why 90% of Fleets are Looking at an EV Future

ev fleets
05 Aug

Cheaper to Operate: Why 90% of Fleets are Looking at an EV Future

By Gilbarco Veeder-Root

9 out of 10 Fleet Managers Believe EV Charging is the Future of Fleets

  • Biden Administration will sign executive order to accelerate electric vehicle adoption
  • 9 out of 10 fleet managers believe charging is the future of fleets
  • Study finds EV maintenance costs 50% less than traditional vehicles

The Biden Administration vowed today to make half of all new cars sold in the U.S. to be electric vehicles by the end of the decade. In an executive order signed today, the White House also proposed new vehicle-emission rules to cut pollution through 2026.

In addition, the executive order set new timelines for emissions standards through at least 2030 for light duty vehicles and as early as 2027 for larger vehicles.

The Future of Fleets

Many experts now believe that commercial fleets will be ones that pave the way for faster EV adoption on the consumer level.

Nine out of ten fleet managers believe electric vehicles are the inevitable future of commercial fleets, according to a recent survey.

The survey, conducted by Wakefield Research in late March, included 300 fleet managers of all sizes across the United States. The results showed 90% of respondents believe fleet operations will electrify – and soon.

32% of operators said a quarter of fleet vehicles will be electric within the next five years. 50% believe that will happen in the next ten years.

Cost of EV Ownership

One of the most motivating factors for fleets to move to EVs is maintenance costs. A recent study by Consumer Reports finds that maintaining electric vehicles costs 50% less than traditional vehicles.

The study also considered factors including – purchase price, fueling costs, and maintenance expenses. They found that “owning an electric vehicle will save the typical driver $6,000-$10,000 over the life of the vehicle, compared to owning a comparable gas-powered vehicle.” Now multiply that savings across an entire fleet operation.

Why would fleets be the catalyst for broader EV adoption? E-mobility fits right in with their operational processes.

Oftentimes, fleet vehicles have a long off-period where they sit for 12-24 hours, waiting for their next destination. Fleet managers see this as the perfect time to charge their vehicles without disrupting the operation.

Chargers for Transitioning Fleets

Gilbarco Veeder-Root’s Amps2Go Series F19 Level 2 charger is especially relevant for fleets operating private charging infrastructure. With increased power output, the F19 series is now suitable for larger vehicles like school buses or light-medium duty fleet trucks.

In other findings from the Wakefield Research survey, 85% of fleet operators reported traditional vehicles cost more to maintain than electric vehicles. 53% said they would use the cost savings from EVs to increase driver wages.

Click HERE to download a free whitepaper about Fleet EV Charging.