Building Your EV Strategy with Three Simple Questions
Electric vehicles (EVs) have been a distant conversation for decades, but in the last two years, EV conversations have erupted in both the consumer segment of the industry, as well as in global commercial fleets of all sizes. The growth of EV technology, charging infrastructure and vehicle availability, combined with government tax incentives, has meant that the “future” of EVs is upon us.
So where does your fleet fit into the rapidly evolving world of EVs? It helps to build a baseline to determine your path ahead. When looking to build your green fleet, consider starting with these three essential questions .
A fleet is nothing if it doesn’t put in the work that drives your business. Medium and heavy duty work trucks have different impacts on battery health, though technological advancements are evolving to fit those needs. It’s important to ask what you need your fleet to do, and how EVs could help or hinder those goals in the current technology.
The same considerations also apply to charging stations and overall infrastructure. You can use your telematics resources to study how your vehicles operate, including how much they drive, the weight and impact the job puts on your fleet, and the mileage driven that could impact chargeability.
EVs are an investment, but it’s not a cost that should scare you away from this important innovation. Your fleet data can help you find the value in your current fleet, and then use that to determine how you will fund your new vehicles. It’s also good to consider funding alternatives, like open-ended leasing, which will help you preserve operating capital while still regularly cycling new vehicles into your fleet.
There’s no magic wand to transform your fleet from traditional combustion engines to EVs overnight. So how will you build a replacement schedule that fits your budget, gives you time to update your fleet infrastructure, and also makes the most of the current vehicles you have? Take a look at the vehicle health of your fleet and determine the cost opportunities already in your hands; that information is a great way to understand the transition period that is the most financially and structurally feasible.
EVs aren’t going anywhere, and neither are we. Check back with us as we continue to unpack all you need to know about the future of EV fleets across your industry. And click here to subscribe to the Morning Brake to get bi-weekly updates on EV innovations, telematics , and more fleet-focused news.