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Latest Updates on Electric Vehicles for Small Businesses
How close are we to full-scale EV deployment? Let’s review what is happening in the industry and how it will affect you and your business.
Making the switch to electric vehicles is a big decision for small businesses and owners. However, with the US Government and many states pushing to phase out internal combustion engine vehicles and promoting (some may say it’s more than this) the sale of EVs for consumer and business use, many questions need answering before you make the switch.
You first need to consider...
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Charging
The West Coast Electric Highway is a network of charging stations along the I-5 corridor, which runs through California, Oregon, and Washington. In 2019, all three states drafted a study on adding charging infrastructure for commercial vehicles with several utilities. However, until the infrastructure is built out, electric vehicles will stick to their “return to base” model, where they never travel far from home or work without recharging.
What are Federal and State Incentives?
You may qualify for as much as $7,500 in federal tax incentives for purchasing an all-electric commercial truck or van in 2020. The federal tax credit is a potential future tax saving. The amount of your tax savings will depend on your tax circumstances. Many states also offer additional rebates and incentives for electric vehicle customers — up to $2,500 in some instances.
Check out Incentives Tailored for You
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Why EVs Work for Commercial Companies
Class 8 electric trucks cost less to operate and maintain than their diesel counterparts. For example, a class 8 truck can go 250 miles on one charge while pulling 60k pounds of cargo without requiring almost any maintenance. As a result, McKinsey predicts that an average fleet’s total costs will be up to 25% lower with EVs compared to ICE vehicles in the same category by 2030.
How to Use Electric Commercial Vehicles in Your Business
EVs for the Final Mile
An EV delivery fleet is most suited to businesses that perform last-mile deliveries within a fixed and limited radius, such as retail delivery, e-commerce home service businesses. So, as electric vehicles are gradually gaining popularity, it’s a worthy investment to begin planning now. And using AI can help accurately plan delivery routes and daily dispatches while driving lesser miles, which will also reduce costs for a business’s final mile visibility.
Want to know what’s going on in the battery-electric vehicle industry? Sign up for our Newsletter
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EVs have arrived in the commercial vehicle space. If you’re not already on-board, you should be. This free event was amazing, but if you weren't able to attend, don't worry - we've recorded the entire event, so you don't have to miss out on any of the valuable insights!
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