A new report from US firm Chargepoint has claimed that the medium and heavy duty electric vehicle market is due to grow by more than 100% this year.
The findings, released in its Charging Forward report, show that fleet electrification is now a mainstream policy for a number of firms and the scale and acceleration of the transition will only increase in the years to come.
It discovered that there were three motivations to drive the electrification of medium and heavy fleet:
Increased vehicle availability: the number of medium and heavy duty EV models is expected to double by 2023
Cost savings of around 20 to 25%: from greater efficiency, more affordable fuelling and reduced maintenance requirements
Environmental benefits: lowering greenhouse gas emissions by half or more to meet business climate targets
Speaking about the report, chief revenue officer at ChargePoint, Michael Hughes, said: “More fleets are realising the overwhelming benefits of electrification and now is the time to start implementing changes to begin that transition and a key component of the journey is education.
“Understanding what is driving mass EV adoption – cost reductions and other operational benefits as well as increased efficiencies will help drive the transition and propel the category into the future. This Report demonstrates each of those factors in great detail and is a resource for the market as the shift accelerates.”