Many companies are transitioning to electric vehicles (EVs), and you may wonder if your business would benefit from making the switch. EVs promise lower fuelling costs, reasonable range and reduced maintenance requirements compared to traditional cars. They're also much better for the environment. Here are some things to consider regarding electric vehicles for businesses.
Evaluate your company's needs
There are so many unique business models that it's hard to say whether using electric vehicles for businesses is a good idea. You can start by listing your company's needs to see whether an EV could benefit your team.
The type of business you operate - and where it is physically located - can make a big difference in which kind of vehicle you need. An EV might be a perfect choice if your work entails short drives through an urban area. For example, if you own a flower shop or bakery, an EV can get you around town to deliver bouquets or pick up ingredients with ease.
You have more logistics to consider if you own a long-haul trucking company. How much weight will you carry, and how might it affect your driving range and fuel economy? Current electric semi-trucks can only travel up to 500 miles per charge, compared to traditional models that can go 2,000 miles without refuelling. Could your drivers combine their charging breaks with their scheduled time off at a rest stop?
Luckily, EV driving ranges are constantly improving. If now isn't the ideal time to switch to an electric fleet, you can always reevaluate the market in a few years.
Calculate the total cost of ownership
Is your business financially ready for an EV? Electric vehicles are relatively new on the scene, meaning they're still more expensive than traditional cars.
Upfront costs vary dramatically depending on the vehicle you purchase and whether you get a government tax credit. For example, the smallest base model Tesla costs over $40,000 in the US , while electric semi-trucks can cost hundreds of thousands of pounds. It is wise to examine your company's budget before visiting a dealership.
However, the dealership price tag is just one part of the picture. EVs may have a higher sticker price than traditional cars but tend to be less expensive in the long run. There are no spark plugs or air filters to replace, and you'll never have to do an oil change. EVs don't have belts, mufflers or catalytic converters, meaning fewer moving parts to break or wear down.
Companies that adopt electric fleets enjoy up to 25% lower maintenance and fuel costs. Consider a vehicle's total cost of ownership when deciding if an EV is right for your business - you just might save more than you spend.
Consider the logistics of charging
Charger availability varies dramatically from one location to another and one country to another – an important consideration if your trucks and vans are driving overseas. For example, Austin, Texas, has well over 1,000 charging stations, but the 230-mile route between Marfa and Del Rio, has no public chargers whatsoever. If you do decide to go electric, where will you charge your vehicle or fleet? Do you live near a public charging station you could use on the route to and from your headquarters?
Take stock of whether your workplace has a level 1, 2 or 3 charging station. If you need fast charging, you'll benefit from installing a level 2 or 3 charger to quickly get your cars back on the road.
Think about sustainability
One major benefit of electric vehicles for businesses is a lower carbon footprint, which is good for your company and the environment. In 2021, roughly 44% of consumers worldwide said they were likelier to buy from brands that made clear sustainability commitments. Many people are also willing to pay more for products from sustainable companies.
Reducing your environmental impact also helps you feel better about your business. You'll know your fleet isn't directly contributing to climate change or air pollution that could affect people's health. Additionally, companies often get government tax incentives for going green. These are all helpful points to consider when thinking about purchasing a vehicle.
Ask for feedback
One way to decide if EVs are right for your business is to ask your staff what they think. They may have unexpected ideas, opinions or information about the subject you haven't considered. Plus, keeping employees briefed on what's going on within the organisation is generally a good idea since your decisions will impact their work experience.
Schedule a test drive
While planning is important, sometimes you have to take action to decide how best to proceed. Some dealerships and car makers offer extended test drives in which you can try out a car for a day or two. Some companies will let you keep a vehicle for up to 24 hours if you schedule it in advance, giving you more time to decide if the car is a good fit. You can also try renting an EV to see how it performs over a longer period.
Electric vehicles for business: an increasingly popular choice
The benefits of electric vehicles for businesses generally outweigh the costs. EVs have become more available and reliable since their inception, and they are much easier to maintain than traditional gas-powered cars. Their profound environmental benefits make them an excellent choice for any business owner looking to lower their carbon footprint, and government incentives make them more financially feasible.
Consider going electric if you're looking for a new vehicle or fleet for your business. The road ahead looks brighter every day.
Copyright 2023. Featured post made possible by Eleanor Hecks, founder and managing editor of Designerly Magazine. She's also a web design consultant with a focus on customer experience and user interface.