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How to electrify your fleet using EV suitability analytics

By Verizon Connect February 5, 2024

Electrification is a journey

As the US federal government infuses $5B into building a national electric vehicle charging network,1 EVs continue to be a hot topic of conversation. Fleet trends data shows that federal investments in nationwide charging infrastructure, tax incentives for EV purchases and an increased focus on sustainability are increasing EV ownership. 

Whether you are looking to reduce your total fuel costs or have specific sustainability goals you are striving to meet, there are plenty of reasons to incorporate EVs into your fleet. 

But getting started on the electrification journey can feel overwhelming, and for good reason.  With so many unknowns, there are plenty of questions to answer in order to make informed decisions…

What kind of range will meet existing needs?

What kind of fuel cost savings are possible? 

What level of CO2 reduction should be anticipated? 

That’s where an EV suitability assessment comes into play. A suitability tool analyzes usage data from your current vehicles to determine whether EVs are a good fit for your fleet. By using a suitability tool, you can get the information you need to make confident purchasing decisions, including seeing which vehicles are good candidates to be replaced by EVs as well as your expected fuel costs savings and carbon reduction. 

EV analytics help fleets plan for the future

To better understand the potential benefits associated with switching to EVs, the Verizon Connect Data Science Team examined thousands of vehicles that leveraged Reveal, over a period of four months. 

The analysis focused on three key metrics: 

  • Percentage of ICE vehicles that could be replaced by EVs, based on daily mileage.
  • Average total energy and fuel cost savings, per fleet.
  • Average CO2 reduction by switching to EVs.

In dissecting the data, the Data Science Team analyzed the routes of over 90 thousand light and medium duty ICE commercial vehicles, covering a combined 622 million miles. 

By looking for circumstances where the daily mileage of an internal combustion engine vehicle is compatible with an EV’s range 95% or more of the time, the tool identified that 42% of the analyzed vehicles could be replaced with EVs.


Verizon Connect Reveal EV Suitability Tool Analysis 

Vehicles analyzed

92,000+ vehicles

Unique count of vehicles that have accessed the Verizon Connect Reveal EV Suitability tool during the analysis time frame.

Total distance analyzed

622 million miles

Total distance traveled by the vehicles in scope from May 22nd to October 2nd.

Total EV suitable vehicles

37,000+ vehicles

Total number of light and medium duty ICE vehicles traveling distances which could be covered by an EV.

Average annual energy cost savings

$69,000+

Potential average annual energy cost saving per account if all possible vehicles are replaced with EVs.*

Average annual CO2 savings per account

192 tons

Potential annual net reduction in CO2 emissions (i.e., if all vehicles possible are replaced with EVs).

Average annual savings - tree equivalency 

3,100+

Equivalent average number of trees needed to sequester the same amount of CO2 reduction.**

*Analysis was conducted using proprietary Verizon Connect Reveal EV Suitability Tool data, in an effort to understand the potential EV replacement cost savings, CO2 reduction, etc. Vehicles analyzed were located in America & Europe.  

** Calculations as per EPA: 

https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator#results

https://www.epa.gov/energy/greenhouse-gases-equivalencies-calculator-calculations-and-references#seedlings

By converting these suitable vehicles to EV, each individual fleet could save an estimated $69,000 per year in energy costs on average, and could reduce their CO2 emissions by over 192 tons per year, equivalent to the carbon reduction achieved by planting over 3 thousand trees.

In addition to the many benefits that electric vehicles offer, there are also challenges to electrifying your fleet. Learn more about three of the most significant challenges and tips for how to navigate them. 

Jump starting your fleet

EVs are poised to become a significant part of vehicle fleets in the coming years, growing to 31 percent of the market by 2050 or about 672 million vehicles, according to the U.S. Energy Information Administration.2

Potential cost savings and emissions reduction are exciting benefits to look forward to, and there’s no question that commercial fleets are picking up momentum in adopting EVs. The Climate Group has received commitments from 121 major commercial fleets to be electrified by 2030.3

Are you ready to get started? While there are many questions on your mind as you begin your journey, let an EV Suitability assessment ease the burden of getting started on the right path.  

1 Energy.Gov President Biden, DOE and DOT Announce $5 Billion over Five Years for National EV Charging Network

2 US Energy Information Administration. EIA projects global conventional vehicle fleet will peak in 2038

3 The Climate Group, EV100 Progress and Insights Report 2022


Verizon Connect

Verizon Connect Staff represents a team of professionals passionate about everything telematics. Get to hear about the latest trends, product features and industry best practices from the desk of Verizon Connect Staff.


Tags: Cost control, Data & Analytics, Fuel cost management

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