Switching to an electric vehicle (EV) fleet can be an asset to your business. Here’s a look at how your operation can benefit from an electric vehicle fleet.

Electric Fleet Overview

Initially, electric vehicles lacked the necessary range, towing power, and storage required by service industries. However, this is changing as vehicle manufacturers are starting to release light and heavy-duty electric trucks with range capabilities exceeding 300 miles.

Tesla is launching its Semi and Cybertrucks. Rivian and other automakers are also outlining their EV initiatives. The New York Times reports Amazon is committing to an initial order of 100,000 Rivian vans to add to its delivery fleet. In 2021, General Motors and Ford also released all-electric trucks.

Benefits of an Electric Vehicle Fleet

Before making changes to your fleet, you want to consider your options. You want to maximize efficiencies across the operation.

It may mean leasing electric fleet vehicles or purchasing them outright. It’s a decision each company makes based on budget and what they need.

Transitioning to an EV fleet reduces harmful emissions. It can also help your bottom line. Still not sure if an electric fleet is right for your operations, here are six benefits to consider.

1. EV Fuel Savings

One of the largest operating costs for fleets is fuel. Regardless of the price at the pump, fleet vehicles still need gas.

Fuel efficiency for internal combustion engines (ICE) is measured in miles per gallon. Electric vehicles measure range in kilowatt-hours (kWh) per 100 miles. How much it costs to charge your EV fleet depends on utility rates.

To calculate your potential fuel savings, determine electrical costs and EV usage.

For example, According to AAA, in January 2021, national fuel prices averaged $2.40 per gallon. Meanwhile, the national average cost of electricity was $0.138 kWh.

Here’s a look at a standard vehicle getting 20 miles per gallon and a 100kWh electric vehicle with a 300-mile range.

The chart shows the cost-per-mile savings fleet managers can see compared to fuel-powered vehicles. These savings are a key reason why fleets are adopting EVs.

2. EV Maintenance Savings

Electric vehicles only use three types of fluids, windshield washer, coolant, and brake fluids.

Since oil changes, transmission fluid flushes, and other engine fluid replacements are not required, consider the maintenance savings you can see with an electric fleet.

The battery packs do require replacing, and it can be expensive. However, EV warranties cover the batteries for up to 100,000 miles. By the time you reach that milestone, you may already be considering replacing the vehicle with a newer model.

3. Return on Your Investment

When you replace a fleet vehicle, you always look at the costs and the impact it may have on your budget. It can be especially true for municipal and government fleets which follow strict financial mandates and allocations.

Even if there are initial costs associated with retrofitting charging stations and purchasing specific EV maintenance parts, your long-term investment will start paying off. EV fleet operating expenses are noticeably lower than those for an ICE fleet.

Some budgets do not allow businesses to replace their entire fleet. Starting with a few EVs will still produce savings that can go towards the purchase of additional electric fleet vehicles.

4. EVs Do Not Require Refueling

Electric vehicles do not require trips to the gas station. Instead, plug the vehicles in overnight for the battery to recharge.

When staff is responsible for refueling standard fleet vehicles, it allows them to focus on other tasks. Transitioning to EVs can help improve productivity, and it is always beneficial to your bottom line.

Your staff may also not be choosing the gas stations with the best fuel costs. Instead of paying less at the pump, employees tend to look for the most convenient place to refuel fleet vehicles.

With EVs, you can charge the vehicles during their downtime. If your fleet runs 24 hours a day, you can leverage vehicle assignments to help ensure drivers are charging and rotating fleet vehicles. This way, you always have vehicles ready to go without having to take time out of the schedule for refueling.

5. Improve Vehicle Efficiency and Performance

Combustion engines may beat EVs in a drag race, but it doesn’t apply to fleets.

Instead, torque is crucial, and electric fleet vehicles deliver. EVs can provide instant torque, unlike diesel engines.

Instant torque allows larger fleet vehicles to quickly get up to speed while using less force. The increase in power efficiency translates to savings on your charging costs.

6. Take Advantage of Current Electric Equipment

Does your business use electric forklifts and other types of equipment? If so, you may be able to take advantage of some of your current electrical equipment.

You can get rid of any third-party fuel partners, increasing your overall savings.

Are you ready to adopt an electric fleet? Contact us today to learn more and find out how we can help make the transition go smoothly. To speak with one of our Fleet EV charging experts, call 484-816-2076, email [email protected], or schedule a call that fits your needs by clicking the button below.