The Business Case For EV Fleets Is Getting Hard To Ignore

"The study argues that switching a corporate fleet from gas to electric could cut total vehicle operating costs by as much as 50%. That's thanks to cheaper energy costs (versus gasoline), lower maintenance requirements, and various regulatory perks that favor EVs as a whole."

"The data suggests that electrifying the various fleets across Europe could cumulatively save up to $286 billion through 2030. And if certain costs—like high acquisition costs and lower residual values—are reduced further, those savings could rise even higher."

"Operating costs make up between 60% and 75% of the vehicle's total cost of ownership. The economics of EV ownership makes a lot of sense. It's not a political issue or preference when it comes to businesses."

A study by EY and Eurelectric demonstrates that businesses can achieve significant cost savings by transitioning their fleets to electric vehicles. Companies switching from diesel to battery-electric vans can realize savings between 15% and 40%, while broader fleet electrification could cut total vehicle operating costs by up to 50%. These savings stem from cheaper energy costs compared to gasoline, lower maintenance requirements, and various regulatory benefits favoring EVs. In Europe, where corporate fleets represent 60% of new car sales, electrifying fleets could cumulatively save up to $286 billion through 2030. Operating costs comprise 60% to 75% of total vehicle ownership costs, making this transition economically compelling for businesses focused on bottom-line financial performance.

Read at insideevs.com