Title: Electric vehicle trends 2020: Top 6 factors impacting fleet electrification | Geotab
Headings: Electric vehicle trends 2020: Top 6 factors impacting fleet electrification
Electric vehicle trends 2020: Top 6 factors impacting fleet electrification
Published on February 3, 2020
Introduction
The future trends impacting fleet electrification
1. The EV price tag will continue to drop as battery costs fall
Improvements in battery technology
Industrial policies supporting battery development
Increasing production capacity
2. Electrification will spread into the heavier vehicle segments
Commercial electric vans
Electric buses
Medium and heavy-duty trucks
3. Updates to policy and regulation
Zero-emission vehicle deployment
Fuel economy and emissions standards
City access restrictions
4. Increase in public charger availability and capacity
The dawn of the mega-charger in heavy duty
Investments in public charging infrastructure
5. Collaboration accelerates EV adoption
Public and private sectors show their intent
6. EVs to dominate shared mobility services
Hurdles to market penetration
The benefits of going green
Conclusion
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Content: Electric vehicle trends 2020: Top 6 factors impacting fleet electrification | Geotab
Electric vehicle trends 2020: Top 6 factors impacting fleet electrification
Published on February 3, 2020
Introduction
There has been an increasing movement towards sustainable fleet management over the past five years, especially for many organizations with large fleets. Fleet managers are now commonly required to optimize their fleet operations in order to meet sustainability targets defined by ISO 14001, sustainability, or Corporate Social Responsibility (CSR) programs. Electrification has been a fundamental element of this transition. Integrating electric or hybrid electric vehicles into the fleet portfolio helps address sustainability and environmental goals. As environmental regulations will only become more binding over the next decade, many fleets recognize that a staged procurement strategy will enable them to support efficient operations and business continuity. The future trends impacting fleet electrification
Deloitte estimates that EVs will represent 10% of the total automotive market share by 2024. The International Energy Agency (IEA) reports rapid growth in electric car deployment, particularly in China. If the pledges related to the Electric Vehicle Initiative’s EV30@30 Campaign (to reach 30% market share for EVs by 2030) hold true, then the IEA forecasts that EV stock would reach more than 250 million, reducing oil demand by an estimated 4.3 million barrels per day (mb/d).