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Why Fleet Operators Want to Transition to EVs

Rising fuel cost is not the only factor driving fleet operators toward transitioning to EVs. 

• 41% of respondents expressed environmental impact as their concern, with 30% of those planning to transition to EVs within the next year.
• High maintenance cost of the current fleet is also a driving factor behind the transition, as indicated by 39% of respondents.

Operators with available capital expenditure could move early to EVs and gain a competitive edge while avoiding exposure to rising fuel costs. They can decrease their environmental impact and benefit from government grants and subsidies that may be phased out later. 

However, transitioning to EVs is not without obstacles.

Understanding the Obstacles to EV Adoption

• One of the significant challenges is the impact of supply chain issues on EV availability and cost.
• One-third (32%) of respondents also consider the conversion to next-gen fuels as a significant expense, posing a challenge to EV adoption.

Due to these challenges, fleet operators are delaying the transition to EVs and leveraging the benefits of technology.

Overcoming Business Complexities with Technology

To overcome the new business complexities and sustain competitive advantage, fleet operators are implementing several strategies:

• Focusing on preventative maintenance and more conscientious road use to extend vehicle life.
• Implementing more digital workflows (39%) and video telematics (38%) to increase efficiency and manage the top three fleet business costs: fuel, payroll, and maintenance.
• Using a telematics solution sourced from either a third-party provider or manufacturer. Although vehicle tracking (43%) was primarily used for telematics, managing driver performance (33%), proof of service (32%), and monitoring fuel usage (30%) followed close behind.
• Leveraging telematics to benchmark behavior (89%) and seeing a reduction in accidents (91%), while implementing new driver behavior to navigate high fuel costs (24%) and offer performance-based bonuses to retain drivers (37%).