A new study by Frost & Sullivan commissioned by WEX reveals that mixed-energy fleets are projected to increase given anticipated commercial EV adoption rates. According to the study, 80% of mixed-energy fleet operators intend for at least 25% of their fleets to be comprised of electric vehicles (EVs) by 2030 and 42% stated that half or more of their fleet would be composed of EVs by 2030.
“The Commercial EV Transition: Global Insights on a Mixed-Energy Fleet Future,” a 2024 global survey, offers insights for organizations to navigate and capitalize on the shift to electrification in Europe, North America, and Asia-Pacific, WEX said.
Key findings include:
- Decarbonization is the key driver of the transition: 70% say it is an “important” or “cornerstone” component of their business strategy, and only 3% are not considering decarbonization at all.
- Operational efficiency is paramount during the transition: Despite electrification challenges such as high upfront costs (64%), 50% of surveyed organizations have already invested in charging infrastructure.
- Streamlining charging and payments is crucial: A substantial proportion (78%) of organizations have charging on-site, though charging en-route and at home were also widely used. Ninety percent of fleets have the same payment options for Internal Combustion Engine (ICE) and EVs. Dual ICE/EV payment card availability ranks as the top influencing factor when choosing a payment card.
- Smart digital solutions could help future-proof fleets: Over half of the respondents (58%) struggle with route planning, while 49% struggle to collect data, and 40% face challenges integrating fleet management software for ICE vehicles and EVs.
The report also highlights the broader industry implications, noting that the top three challenges for fleet operators are the cost of fuel (67%), operational costs (66%), and profit margins (59%).
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