Electric vehicles (EVs) have emerged as one of the most impactful ways fleets can lessen their carbon footprint well into the future. So, it should be no surprise that the adoption of EVs is expected to surge in the next few years. It is projected that EV sales will rise from 6.6 million in 2021 to a whopping 20.6 million in 2025.1
But what are some of the key trends driving EVs into the future? In parts one and two of our EV Fleet Blog Series, we took a deep dive into some of the myths and financial considerations around adding EVs to your fleet. In this final part, we’ll explore some of the latest EV trends and what you can expect to see in the future of EV fleets.
Trend 1: Automakers’ Commitment to EV Production
While there have been recent headlines in the news about the limitations in the production of vehicles, the long-term outlook for producing EVs is strong. It is estimated that the automotive industry will invest over $500 billion by 2030 for its EV production.2 With this solid commitment to electrification from a number of traditional automakers, there will continue to be a variety of new electric models available to the public, which will make it significantly easier for businesses to add these vehicles to their fleets.
Trend 2: Legislation That’s Charging EVs Forward
On both the federal and state levels, recent legislation has been passed to enhance and encourage the use of electric vehicles. From a federal perspective, the current administration recently passed three bills that will have future implications for the EV industry, including:
- The Bipartisan Infrastructure Law: This legislation is slated to invest $7.5 billion to help create the infrastructure for around 500,000 EV chargers. The goal? To help make sure that charging EVs is predictable, reliable and accessible.3
- The Inflation Reduction Act: This act provides a number of financial incentives for buyers of new and used EVs.4
- The CHIPS and Science Act: One of the objectives of this act is to make critical investments in building domestic capacity for the semiconductors necessary for electric vehicles.5
In recent years, policymakers in a number of states have contributed to the increase in hybrid and EV initiatives. However, the state of California has made one of the largest footprints thus far. In August of 2022, the state’s regulators passed rules banning the sale of new gas-powered cars by 2035,6 as well as other initiatives that will push EVs forward. With the potential for other states to follow suit, many organizations are already preparing by transitioning their fleet to electric.
Trend 3: Automation + EVs = Better Business Outcomes
Recently, some of the biggest companies in the world have committed to implementing over 5.5 million vehicles to electric by the end of 2030.7 Not only are businesses adding EVs to meet environmental objectives, improve public perception and stand out from competitors, but they are also proving to be highly effective and efficient.
With the help of a fleet automation solution, organizations are already seeing some of their processes streamlined as a result of adding EVs to their fleet, including:
- Improved workforce management: Vehicles with low charges can be removed from the rotation, and dispatch orders for charging are automatically issued. When charging is complete, an automated workflow assignment is generated to unplug the vehicle and return it to its place in the fleet.
- Automated EV-specific maintenance management: Vehicle data is being used to identify and schedule maintenance jobs based on the vehicle type and usage. Real-time scans of the vehicle’s information decipher and schedule unplanned maintenance—whether it’s a standard gas-powered vehicle, hybrid, or electric.
- Assign EVs based on mileage and load: Expected mileage and load volume and can be used to calculate and display available vehicle options, making sure each driver is assigned the optimal vehicle for each task or trip.
There is no doubt that the future is going electric. There are great efforts already being made across the globe to hasten many industries toward electrification. In the coming years, it is expected that EVs will continue to have a larger impact on productivity and will become increasingly affordable. Fleets can make the transition to EVs smoother by using the right technology to digitize vehicle access and automating tasks coming from the vehicle’s data. It’s time to move the world better, electrically.
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Stacey Papp, Director, Content, Ridecell