Three Key Data Points
To plan an EV transition effectively, there are three key data points that businesses should focus on. This information can be accessed through reporting in a telematics platform and segmented by the vehicle types created. The three key data points are:
- Duty cycles: This information includes how much a vehicle is used and when it is used. For an EV, the number of days per week a vehicle is used and the average miles per measurement period are vital when calculating transition feasibility.
- Dwell time and location: This data indicates where vehicles are nonoperational, and the amount of time spent in these locations. This information is crucial for evaluating the charging requirements for an EV fleet and can help to plan an optimal charging infrastructure.
- Trip locations: Knowing the frequency with which vehicles enter low emission and congestion zones can help identify cost savings that can be included in total ownership cost calculations. This can bolster the case for an EV transition.
Information is only useful when it’s put into action. For this reason, the execution phase requires buy-in from internal decision-makers. Here are some of the key factors and data points necessary to make informed decisions.
Total Cost of Ownership
All costs associated with owning and operating electric vehicles over their entire life cycle will need to be considered. This includes purchase price, maintenance costs, insurance, fuel and charging costs. Decision makers will want to compare the total cost of ownership of electric vehicles to their current gas or diesel vehicles to determine potential savings or additional costs.
Fuel Consumption Metrics
Fuel consumption metrics can help decision makers understand the practicality of using electric fleet vehicles in their specific use cases by identifying range per charge, energy consumption per mile and charging times. These can then be compared with similar data points from traditional internal combustion engine fleet vehicles.
Decision makers will need to consider whether they will need to install charging stations at their facilities, or if they will rely on public charging infrastructure. They will also want to understand the cost and time implications of charging their vehicles, and whether they will need to adjust their operations to accommodate charging times.
Government incentives and rebates can significantly reduce the upfront cost of purchasing electric fleet vehicles, making them more financially feasible. Decision makers will want to understand what incentives are available in their region, and how much they can potentially save.
One of the main benefits of transitioning to electric fleet vehicles is the reduced environmental impact, including lower greenhouse gas emissions and other pollutants. Stakeholders will want to understand the potential environmental benefits of switching to electric vehicles. This includes any regulatory requirements they may need to comply with.
Vehicle Availability and Suitability
Fleet vehicles will need to be suitable for the needs of the company. This includes factors such as vehicle size, payload capacity, and driving range. Leadership teams will also need to consider factors such as road surfaces and driving distances to determine the best course of action for an electric vehicle fleet transition.
Transitioning to electric fleet vehicles will require employee training to ensure that drivers and maintenance personnel are familiar with the new technology, including operations and maintenance needs. Decision makers will need to consider the time and cost implications of training employees, as well as the ongoing training and support required to keep up with any changes in the technology.
The key to long-term success with any project is ongoing support and flexibility. The future is always a moving target for operators, and your system needs to be able to adapt as your business grows and changes. Additionally, your systems and software need to be easy enough to use to ensure these changes can be made with relatively little downtime and loss of efficiency.
As more businesses begin the transition process to EVs, many fleets will include both ICE and EV vehicles. For this reason, your telematics software will also need to be able to handle both ICE vehicles and EVs from one platform to ensure efficient day-to-day operations.
As with any change, it’s critical that you and your business are confident in the decision being made, and that your team trusts the transition plan. Concerns on key issues like range anxiety and vehicle suitability can be addressed by following a data driven approach, that showcases that the business has the right charging infrastructure in place and they have correct vehicle for the job they’re doing.
Whatever stage your business is at with its energy transition, with our technology and team of experts you can start to make informed decisions that will ensure your business continues to thrive during and after the transition. Contact us today to learn more.