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4 key considerations for adding EVs to your fleet

By Verizon Connect July 17, 2023

For many organizations, the time is right to add electric vehicles (EVs) to their fleets. With the federal government announcing a goal to have 50% of new vehicle sales to be electric by 2030, and automakers unveiling new EV models, more fleets are looking at EVs as an innovative solution.1 But whether the goal is to save on fuel and maintenance, or make strides towards green initiatives, there are several things organizations need to consider when preparing their fleet for EVs.

Weigh the total cost of ownership 

It’s no secret that the initial purchase price of an EV is often more expensive than a comparable gas counterpart. However, it’s important to remember that the sticker price is just one part of the lifetime cost of ownership. Lower maintenance and fuel costs can add up over time. And as fuel costs remain a significant cost for fleets, this could make EVs a more appealing option.

GPS fleet tracking technology can give fleet managers deep insights into how much they’re spending on fuel and maintenance. With this information in hand, they can better understand the impact an EV can make on their bottom line.

Additionally, many EV models have attractive tax credits and rebates that can reduce the purchase price. Organizations can also take advantage of grants and other incentive programs that the federal government and many state governments offer.2

It’s also worth noting that batteries, which are one of the most expensive components of EVs, are trending cheaper.3

Determine which vehicles need to be replaced

Understanding the cost of EVs is only one part of the equation – fleet managers also need to develop a strategy to determine which vehicles can or should be replaced based on two key factors.

  • Vehicle lifecycle: Telematics can help fleet managers understand which vehicles may be nearing the end of their lifecycle, and therefore be prime candidates for replacement. 
  • Route or application: EVs aren’t necessarily ideal for every route or job application. Longer routes might exceed the range limitations, or not leave enough time to charge the batteries between jobs. Telematics can help fleet managers understand which routes could be ideal for EVs.

The strategy should also include plans for acquiring EVs. With so many tax rebates and incentive programs available, EV demand can exceed supply, depending on geographic region. As a result, simply getting EVs can sometimes be challenging, so it’s important to build in plans on how to acquire them once a decision has been made.

Want additional resources to help with the transition to EVs? Download our infographic for 5 ways fleet managers can prepare for the electric vehicle surge.  

Understand the charging needs and range capabilities

EVs need to be charged, and that brings a host of challenges that fleets need to be prepared for. Not only will they need to have adequate charging infrastructure, but organizations will also need to understand which vehicles are ready to go back out into the field. 

Additionally, an EV’s range can vary depending on the vehicle, application, and even the outside temperature. Having a true understanding of EV range can give fleet managers a better idea of how EVs might benefit their business.

Telematics can help in both areas. Fleet managers can use GPS tracking technology to see the battery status in all their EVs to get a better idea of which vehicles are ready to go. And, telematics can give organizations the insights they need to understand which vehicles can complete certain jobs.

Involve other key stakeholders

Bringing EVs into a fleet often takes time to implement. As such, it’s important to include any other departments or stakeholders that may need to be involved. For example, fleet managers might want to include representatives from their maintenance, finance, safety and operations departments, as well as drivers, since all of those roles would be impacted. 

Organizations may also want to bring in consultants or outside experts if additional help and expertise is needed. These experts can be extremely helpful in understanding what operational changes to expect. For example, the organization’s utility company can provide valuable insights into if there will be changes needed in the infrastructure and the level of charging needs. 

Regardless of which internal departments or external partners you bring in, it’s critical to involve them early in the process to help encourage buy-in and benefit.

Planning for the future

EVs can be a valuable addition to your fleet, and can provide a number of benefits, such as reduced fuel and maintenance costs. But fleets looking to adopt EVs must have the right plan and tools in place to manage a mixed fleet. 

To learn more about electric vehicle planning, listen to our free on-demand webinar What You Need to Know Before Flipping the Switch, or request an online demo to see how Verizon Connect is uniquely suited to help meet your EV needs.

1 https://www.whitehouse.gov/briefing-room/statements-releases/2021/08/05/fact-sheet-president-biden-announces-steps-to-drive-american-leadership-forward-on-clean-cars-and-trucks/ 

2 https://www.fueleconomy.gov/feg/taxcenter.shtml 

3 https://www.energy.gov/eere/vehicles/articles/fotw-1272-january-9-2023-electric-vehicle-battery-pack-costs-2022-are-nearly 

 


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, Fleet utilization, Fuel cost management, Vehicle Maintenance

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