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Overall State of the EV Commercial Vehicle Industry
The year 2021 is shaping up to be the most exciting in commercial vehicle industry with electric-powered trucks. Many companies are working on their models, and it seems that this change will happen soon. Freightliner, Rivian Automotive Company Inc., Volvo AB (STO:VOLV-B), and Tesla have all created prototypes of what these vehicles might look like. And many corporations such as SoCal Edison have been testing trucks as an alternative mode of transportation for goods delivery.
Southern California Edison estimates it will save more than 620,000 gallons of fuel annually by switching out its diesel trucks for EVs. This is why SCE has been working with Freightliner and their eCascadia Class 8 battery-electric tractor for material transport operations.
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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.
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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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