Geotab released its “Taking the Reins: Toward the Future of Electric Vehicles” report on electrification, offering unprecedented findings on the power of electric vehicles (EVs) in commercial fleets.
The company says that, with data driven by more than 1.3 million vehicles across seven countries, the study marks a pivotal moment in understanding the potential of electrification to make fleet operations more efficient and sustainable globally.
The report asserts that there are immense opportunities for fleets to reduce total cost of ownership while meeting carbon emission reduction targets.
The report consists of three major studies such as assessing the desirability of using electric vehicles; investigating the potential of electrification in medium/heavy loads; and analyzing load behavior with aggregated data.
Read also: Geotab Expands Collaboration with Stellantis Business Unit
Key Findings
Geotab‘s study highlights that 75% of light-duty vehicles could be replaced with electric vehicles today. Also, 41% of vehicles are economically viable, potentially saving fleets money over their life expectancy.
It further notes that the electric vehicle transition could prevent the use of 2.2 billion gallons of gasoline and avoid 19 million metric tons of CO2 emissions over the next seven years.
It also notes that local medium- and heavy-duty vehicles operate in a range available to electric vehicles, an indication of the potential for electrification.
However, analysis of charging behavior reveals missed opportunities to fully utilize electric vehicles, with 45% of charging sessions in Europe and 65% of those in North America occurring before the battery is half depleted.
The report explores the feasibility of transitioning from internal combustion engine vehicles to electric vehicles within light fleets, analyzing daily vehicle usage patterns in several countries and including a large amount of aggregate data from Europe.
