Discover why electrification is the way forward for every fleet.
Fleets are the lifeblood of business. Often unseen by end consumers, fleet vehicles move everything from the food we eat to the clothes we wear. Whether they’re light-duty vehicles handling the last mile or last meter of delivery from warehouses to homes, or heavy-duty semi-trucks pulling large loads across the country, fleet vehicles are essential to everyday life. An unprecedented combination of sustainability goals, cost savings and government regulations make now the time for fleets to electrify. This report covers these trends and opportunities, showing that the future is electric.
The number of available medium- and heavy-duty electric vehicle (EV) models available is expected to double between 2019 and 2023, ensuring that all types of fleets can find the vehicles they need.
Early adopter fleets have realized 20 to 25 percent cost savings from greater efficiency, more affordable fueling and reduced maintenance. While savings will vary by fleet, the opportunity is hard to pass up. Rapid reduction in battery costs will lead to vehicle cost parity as soon as 2025 for light-duty vehicles.
The number of medium- and heavy-duty electric fleet vehicles sold is expected to grow by more than 100 percent from 2020 to 2021, validating that the electrification of fleets is happening on a broad scale.
Going electric can lower greenhouse gas emissions by half or more, depending on how the power used to charge the fleet is generated. Estimates will vary by vehicle type, local energy source and miles driven.
By 2040, more than one in three commercial vehicles operating in cities worldwide will be electric. Read on to learn why electrification represents the way forward for fleets.