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- By Megan McNelis
With a growing momentum behind the shift to electric vehicles taking place across the world, there has never been a better time to electrify your fleet.
The topic of fleet electrification is becoming increasingly more common across the media and news outlets in recent years. With the modernization of technology and lithium batteries combined with the Biden Administration’s push for electrification of vehicles and the federal funding being made available, making the case for businesses to transition to an electrified fleet is becoming increasingly compelling.
We know that transitioning to large-scale EV fleets is going to require more than merely purchasing electric vehicles and plugging them in to charge. Fleet electrification demands an investment in charging infrastructure, collaborating with local utilities to ensure there is enough power supply available to support powering these heavy-duty fleet vehicles, and in some cases will require making updates to the electric grid at both the connection point and the backbone. There is significant investment needed in making the transition to electric, but it is important to remember not only the environmental benefits of this transition but also the economic benefits for your business.
Cost savings are a major driver of fleet electrification. This is for a variety of reasons, one of those being that electricity is much less expensive and much more predictable in terms of pricing than diesel or gasoline. In addition, the engines used in electric vehicles are significantly more efficient than that of a regular combustion engine, allowing your fleet to get more out of the fuel they use. The maintenance costs of electric vehicles are also far less, no oil changes and fewer part replacements, thus cutting costs while also allowing your fleet to spend less time under repair in the workshop. Over a short period of time the cost of fleet electrification proves itself valuable as it is much less costly than a gasoline- and diesel- powered fleet.
Incentives and Rebates
In addition to the cost savings, incentives and rebates are at an all-time high. The Biden Administration has recently enacted an executive order coming into effect from 2030 that will require half of all new vehicles sold to be electric vehicles. With this executive order, and a time period of 8 years to be compliant, it is smart to take advantage of the incentives and rebates available right now and secure as much funding and support as you can to electrify your fleet. Funding is being made available by both Federal and State Governments for individuals and companies to welcome electric vehicles into their daily lives at a fraction of the cost. This removes the cost of entry barrier, making it possible to electrify your fleet for a nominal cost.
Corporate sustainability commitments are another important factor to keep in mind when making the case for fleet electrification. With consumers wanting to buy from and support eco-conscious companies electrification of your fleet isn’t just good for the planet, it’s good for business. With The Greenhouse Gas Reporting Program (GHGRP) and organizations setting ambitious sustainability goals, decarbonization is a collective movement and strategic decision for many companies. Fleet electrification has quickly contributed to this movement as an all-encompassing solution for cost and a better planet.
As you can see there are many compelling reasons for electrifying your fleet, and whether you decide to make this transition now, or over the next few years, Maverick Electric Vehicle Services is here to offer our vast knowledge and expertise to support you in this journey.