In the News

Electric Vehicle Growth Closely Tied to Data

July 22, 2021

Data is increasingly driving the evolution of electric vehicles. Initially EV’s early adopters were driven by feeling but the reality of EV’s is clear and the data easily supports it.  With the advent of smart charging, using the grid during off-peak hours and fleet downtime, fleets can not only drive down maintenance, energy consumption, and downtime, but can charge without massive infrastructure upgrades by simply balancing demand based on time of day smart charging.

Fleet electrification has accelerated throughout 2020 as well as in 2021 and has spurred discussion regarding the feasibility of transitioning combustion engine powered vehicles to EV’s. Studies show that about 13% of vehicles could be electrified today without further consideration. EV’s now have 300-450 mile ranges making nearly every use case feasible with EV’s, but for lack of available product options, but that too is soon to change.  

Using data to make decisions on electrifying is critical for planning out infrastructure and duty cycle needs. EVs on the road have risen to 10 million globally with one million on US roads. Despite anticipated growth, there are about 41,000 EV charging stations of which a smaller subset are what can loosely be called superchargers.

  • Operating and maintenance costs for EVs is in the range of 30 to 50% of the cost of maintaining internal combustion engine vehicles, with the total cost of ownership driving interest for both public and private fleets
  • Commercial fleets face the most significant upside with EV deployments, driving down maintenance, downtime, and TCO considerably.
  • CO2 emission rates are favorable for EV models, and communicating the journey to electrification could also drive interest from the eco-conscious consumer
  • Optimizing EVs so the customer can have the best value is critical, and the increasing volume of data can help inform future trends and direction for the industry.

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Photo: Photo: Pixabay photo by Joenomias

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.