Electric Vehicle Fleet Sales Likely to Grow in 2021
The shift to fleet electrification is happening rapidly, and the number of medium- and heavy-duty electric fleet vehicles sold is expected to grow by more than 100% from 2020 to 2021.
The overwhelming benefits of electrification are being realized by more and more fleets, and many are making the switch. The key to making this transition is education, as well as understanding the driving factors for adoption: cost reduction, operational benefits, and increased efficiencies.
Charging Forward published a report which delves into these factors in detail, as well as the barriers to adoption, and insight into growth opportunities.
· Electric vehicle fleet sales are expected to grow into 2021
· There are three factors driving the shift in the fleet market:
- Increased vehicle availability with the number of medium- and heavy-duty electric vehicle models expected to double by 2023
- Cost savings of about 20-45% from greater efficiency for light-duty vehicles, more affordable fueling, and reduced maintenance requirements
- Environmental benefits lowering greenhouse gas emissions by half or more
Doering has been a large owner of EV’s for five years (beginning in Q3 2016).
We see that the early adopter shift is behind us and the mass adoption wave is at our footsteps. The number of new EV/AV entrants is impressively strong and the largest OEM’s are finally taking shape and mobilizing toward EV’s in a meaningful way and showing strong investment, leadership, and PR around the future, sans internal combustion engines.
The quality of the products has left a bit too be desired from the traditional OEMs and most the the evocative entrants have been new to the market and paradigm shifting - Tesla, Rivian, Lordstown, and others. Toyota, Nissan, and GM have all been in the hybrid and EV space, but not with mass-appeal EV’s. Hybrids have been in mass production since 1997.
We see them as the ice breakers that made room for the EV to enter the minds and hearts. Now the EV will eclipse the hybrid market handily and see EV’s make internal combustion engines a relic within 15-20 years. Some States are expected to legislatively prevent aged internal combustion vehicles from being registered in their borders.
Article Source: https://www.automotive-fleet.com/
Link to complete source story: https://www.automotive-fleet.com/10134833/electric-vehicles-fleet-sales-likely-to-grow-in-2021?utm_source=email&utm_medium=enewsletter&utm_campaign=20210119-NL-AF-Enews-BOBCD210113017&omdt=NL-AF-Enews&omid=1003990182&utm_content=01&oly_enc_id=3348C7998723J6X
Photo: Photo: Rathaphon Nanthapreecha/Pexels
Disclaimer: In the News blog posts are Doering's take on the best content and the latest news in the Fleet Management Industry. Doering did not write the original source article.