Electrifying commercial vehicle fleets is delivering clear financial gains alongside environmental benefits, new research from Vanson Bourne, in partnership with EV charging provider EO Charging, suggests.
A survey of more than 300 senior decision-makers in the US and UK responsible for electrifying fleets of 100 vehicles or more found that 43% expect their total cost of ownership to fall as a result of switching to electric vehicles.
The research also shows that fleets are already more than halfway electrified on average (53%).
Momentum towards net-zero transport is also accelerating. The vast majority of organisations (84%) have already introduced at least a partial net-zero transportation initiative, with more than half (54%) citing cost savings and long-term financial returns as the main motivation.
Public sector organisations are leading the way, with nearly half (47%) having fully implemented a net-zero transport strategy, compared with just 23% of private sector organisations.
However, the study also highlights significant obstacles. More than eight in ten organisations (81%) say shifting government policies are making it harder to develop long-term electrification plans, while 54% admit they are not planning beyond the current political administration in their market.
Volatility in energy markets and growing geopolitical tensions are further complicating decision-making. Almost nine in ten respondents (88%) say fluctuating energy prices make the transition to electric fleets more challenging, while 80% of UK respondents point to global tensions as increasing risks around sourcing critical components such as EV batteries.
Richard Staveley, CEO at EO Charging, said: “This research clearly highlights that commercial fleet electrification has now evolved from what was once primarily a legislative led initiative to meet environmental targets to a mainstream business strategy.
“Driven by seeing tangible cost efficiencies, organisations across multiple industries have long moved beyond small trials and pilot schemes to embrace electrification as a transformational business benefit.”
