Here’s Why Businesses Should Adopt Electric Vehicles Right Now

Here’s Why Businesses Should Adopt Electric Vehicles Right Now

As the year 2022 draws to a close, EV sales are expected to rise to 10.7 million individual units, according to EV Volumes. This is a growth of 57% compared to last year’s figure, which was impressive in its own right. With the rate things are going with EV tech, it’s likely that it will start to enter the aviation industry sooner than anyone might think. This makes for a prime opportunity for businesses to become early adopters of electric vehicles.

Here are the biggest reasons why. 

  • Generous Government Incentives 

Initiatives to push the global effort to electrify transport makes it that much more advantageous for businesses to adopt EVs. US government organizations are helping set a precedent by spearheading the adoption of electric vehicles. The US Postal Service, for example, will purchase 66,000 electric mail trucks. This is all made possible by the billions in grants and tax breaks being offered to speed up adoption, all of which are available to business owners as well. 

Motivating EV adoption through things such as tax incentives in turn drives research to make electric vehicle use more practical for all sectors. Progress on battery adjustments to improve EV range and charging time are already quite far along, with size and weight optimizations on their way out of the larval stage. The incentives on offer are so promising that the majority of car dealers in the US have agreed to sell Ford’s EVs for investment packages of up to $1.2 million in grant money. This speaks to the high degree of confidence in the current level of EV tech. 

  • Lower Operating Costs 

The most obvious advantage to a business adopting EVs is operating costs. Charging an EV can cost up to 60 percent less than fueling a petrol vehicle, depending on where you live and provided that you charge the battery during off-peak hours. This can be a business’s saving grace in times like right now when petrol prices are sky-high. Engine maintenance also tends to be cheaper. Since there are fewer moving parts in an EV, they break down far less often and far less severely. Although, the supply of repair parts and mechanics is still somewhat lacking in many areas. 

The operating advantages offered by EVs is perhaps most important to the logistics sector. For example, the more tech-led, software-heavy design of EVs lends itself well to fleet analytics, allowing logistics managers to gain key insight into things such as fuel consumption, engine health, and charge time, as opposed to traditional vehicles that each have to be manually diagnosed. 

There is an element of urgency to EV adoption at this point in time, as government incentives aren’t going to last forever. While they may be in place for at least the rest of the decade, they’ll start to taper out before long, as more and more people switch over to electric vehicles. 

For more articles, visit OD Blog.

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