The Business Case for Electric Vehicles

Electric vehicles (EVs) are growing in popularity as consumers seek a more sustainable alternative to fuel-powered vehicles. But it isn’t just consumers who are looking for these options. More businesses are starting to see them as a valuable asset as well. They’re adding EVs to their fleet as their older vehicles need replacing, or when they need to expand their fleet. 

The business case for EVs is growing stronger every year. Let’s take a closer look at some of the benefits to choosing EVs for your business.

Reduced Fleet Maintenance Costs 

One of the most obvious benefits is the savings organizations can achieve with EVs as part of or all of their fleet. EVs have lower maintenance costs due to less wear and tear on components such as the engine, brakes and transmission. Not only that, but they also require fewer regular services compared to fuel-powered cars. That alone makes them an attractive option for businesses interested in saving money and reducing downtime.

Government Incentives 

Many governments offer incentives for businesses that invest in EVs and EV charging infrastructure to help supercharge EV growth. These incentives can include tax credits or rebates, lower electricity rates and grants, to name a few. By choosing EVs for their fleets, businesses can take advantage of these incentives and reduce their initial investment costs. One example is the National Electric Vehicle Infrastructure (NEVI) Program. It was created by the U.S. Department of Energy (DOE) to develop and deploy public infrastructure to help fuel EV growth and adoption across the U.S.

Reduced Fuel Costs 

Gas prices can fluctuate wildly. If you have a fleet that relies on EV charging, you don't need to worry about unpredictable fuel costs. Plus, charging an electric vehicle costs significantly less than filling up with gas or diesel fuel. For delivery fleets in urban environments with lots of stops and starts, EVs can be up to 50% more efficient to operate than traditional vehicles.

A lower, more stable cost on your balance sheet? Any CFO will tell you that’s a huge plus. 

Increased Productivity 

EV charging stations can charge EVs quickly, allowing them to get back on the road and to their destination on time. How quickly? It just takes around 30 minutes to charge an electric car from 0-80% with a rapid charger. Electric cars have a range of around 100 miles per charge, meaning that they can travel farther distances without needing to stop for a recharge. Less time fueling up translates into more efficient delivery times. 

Reduced Environmental Impact & Enhanced Brand Reputation 

One of the most significant advantages of EVs is that they are more environmentally friendly than those relying on fuel. EVs emit less CO₂ and other pollutants than traditional cars. For companies committed to reducing their environmental impact and lowering their carbon footprint it’s a perfect fit. Enhancing brand reputation goes hand in hand with reducing environmental impact and contributing to a greener planet. As environmentally conscious consumers are increasing their demand for sustainable practices, choosing EVs for your fleet is one way to show that your brand shares their values. 

Wrapping It Up

It’s clear EVs can be an excellent way for businesses to reduce operating costs and help create a more sustainable future. Investing in EVs today can help mitigate a company’s environmental impact, increase efficiency and improve the bottom line. With so many advantages, it is no wonder that EVs are becoming increasingly popular among businesses. The question now is, how is your business using EVs? 

Make sure your EV charging station enclosures, cabinets and pedestals are built by experts in the field. Talk to Maysteel to learn more.

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