| |NOVEMBER 20219HOW CAN COMMERCIAL FLEETS REAP THE BENEFITS OF ELECTRIC VEHICLES?Hence, the maintenance cost drops down drastically between half to a third as compared to ICE vehicles. CORPORATE SUSTAINABILITYEVs do not emit any toxic gases as compared with their traditional counterparts that are responsible for releasing harmful gases such as carbon dioxide, carbon monoxide, nitrogen oxides, etc. Hence, electric vehicles are environmentally friendly and contribute in improving air quality. For instance, an EV powered by renewable electricity leads to zilch emission of greenhouse gases. Adding to it, commercial fleets can also benefit from deploying EVs as they will be able to attain high levels of employee satisfaction along with improved performance and greater retention levels. The drivers specifically enjoy the smooth and noiseless ride on a vehicle that does not release toxic fumes. The fact that they are operating a cutting-edge technology further motivates them to deliver their best. This increased retention level can further lead to a reduction in the costs of training and hiring the employees.OPERATIONAL EFFICIENCIESElectric vehicles with their plethora of state-of-the-art benefits enable operational efficiencies in commercial fleets. Taking an example, on using EVs, the drivers' frequent trips to the gas stations would reduce. This will further reduce employee downtime when fleets have to deliver parcels specifically in rural areas. SUMMING UP!The future of the electric vehicles market in commercial fleets segment indeed seems to be promising. With the exponentially rising demand for EVs, the need for the installation of charging infrastructure for commercial usage will also spike. As per CEEW Centre for Energy Finance report, the Indian EV market will be valued at $206 billion by 2030 if the country continues the pace of its steady progress. This would further lead to a $180 billion investment in the vehicle manufacturing and charging infrastructure segments. Another major benefit of owning EVs is that one does not need to convert the entire fleet at once. You can start with installing just one or two charging EV stations with just a few electric fleet vehicles. By incorporating electric vehicles, commercial fleets businesses would also be able to enjoy a competitive edge in the market. While saving costs, they would be able to gain extra revenues by installing charging stations in their spaces. For businesses and fleet operators in employee transport, ride-hailing or deliveries, the utilization is around 150-200 km a day. The difference in upfront costs can be bridged within 10-12 months by running more EVs at the same distance. Thus, the transition to EVs is a viable strategy for commercial fleets as it will lower cost, save time, and well as reduce Scope three emissions! For businesses and fleet operators in employee transport, ride-hailing or deliveries, the utilization is around 150-200 km a day
< Page 8 | Page 10 >