Electric vehicles are now considered the future of automobiles. Disrupting the transportation industry, car electrification is now occurring more rapidly due to its numerous benefits.
And for businesses that need a vehicle fleet, electric cars offer numerous opportunities that can benefit your company overall. If you’re curious, here are some reasons your business should switch to an electric fleet.
It Is Cost-Effective
Money matters are one of the most important considerations to any business. Any company aims to boost profit while lowering expenses. Generally, purchasing a vehicle for your fleet is a costly endeavor–even more so when choosing an electric model.
However, don’t let the upfront cost scare you. There are significant cost savings associated with choosing an electric vehicle (EV). First off, EVs help reduce ownership and maintenance costs. The most significant saving is on fuel costs. Since electric vehicles run on battery, you can protect your business against the rising fuel cost.
Based on a cost-per-mile analysis, EVs would cost a quarter or less to run than a traditional fuel-based car. If you multiply these savings across your entire fleet, you can see significant cost reductions to your business financials.
The cost of maintaining an EV is also lower than traditional cars. Thanks to their internal combustion engine design, EVs have fewer mechanical parts prone to failure and replacements.
In addition, while EV vehicles may be expensive upfront, your business can take advantage of federal tax benefits and government incentives. These federal discounts encourage the procurement of electric vehicles to support and meet nationwide and global sustainable initiatives.
That said, if you don’t have the budget to buy a new EV vehicle or rarely need to use one for your business occasions, you also have the option for an electric car subscription, which further helps control costs. An electric car subscription provides your business with EVs in exchange for a monthly fee. These subscriptions usually include maintenance, insurance, and roadside assistance. Plus, an EV subscription allows you to swap out the vehicle for a new one every month.
It Has The Potential For Profit
Aside from the significant cost-savings you get from switching to an electric fleet, you may also have the possibility to generate extra business revenue.
Generally, if you plan to switch to an electric fleet, you must invest in EV charging points at your workplace. If you opt for solar-powered charging points, you get significant savings on electric costs. Now, if you make these charging points available for public use or employees, you can generate profit for your business and maximize your return on investment (ROI).
It Supports Sustainability Efforts
Did you know the transport industry significantly contributes to air pollution and carbon emissions? Statistics show that cars and other transportation produced over seven million metric tons of carbon dioxide, accounting for almost 40% of global carbon emissions. Experts even claimed that car emissions are the leading cause of worsening pollution and climate change.
Your business can make a difference and reduce the threat of global warming by transitioning to a fleet of electric vehicles. Generally, an electric vehicle emits zero greenhouse emissions since it relies on a battery to power the motor. This means there is no fuel to burn for it to be drivable. In addition, an electric vehicle requires less of the more harmful and polluting liquids such as coolant and engine oils. Thus, significantly reducing your business’s carbon footprint and negative environmental impact.
It Encourages Employee Engagement And Loyalty
The productivity and efficiency of your employees tightly correlate with what benefits you can offer them. And EVs can be a substantial benefit you can offer. Studies show that 90% of employees will likely be more loyal to a company with a solid corporate social responsibility (CSR) initiative. So, by switching to EVs, you can demonstrate your company’s dedication to being mindful of how their operations impact society, including the environment.
Such sustainability efforts also help promote employee engagement and satisfaction. A study suggests that some people prefer to work for a company with environmental policies.
Electric cars are expected to play a pivotal role in the future of the automobile sector. Whether you’ve been planning to add some electric vehicles to your fleet or opting for a full EV fleet, switching to electrics is a sustainable and practical choice for your business.
That said, we hope that the points mentioned above have helped convince you to switch to electric vehicles and help you make an informed choice that will benefit your business and Mother Earth.