- Geotab’s ‘Taking Charge’ report analysed data from 1.3 million vehicles across 7 countries over 12 months.
- EVs could save 2.2 billion gallons of fuel and avoid 19 million metric tons of CO2 emissions over 7 years.
- UK leads in EV fleet potential but lacks robust government incentives, despite 66% of vehicles being ‘EV suitable’, offering potential savings of £13,279 per vehicle over 7 years
UK Shines in Geotab Report Despite EV Scepticism
Geotab, the powerhouse in connected transportation solutions, has revealed a groundbreaking stat: two-thirds of both private and public sector vehicles in the UK are primed to make the switch to electric. Despite industry doubts, EV adoption is racing ahead.
Geotab’s ‘Taking Charge: On the Road to an EV Future’ report, scrutinised data from 1.3 million vehicles across seven nations over a year, revealing that if fleets transition to electric, they could slash 2.2 billion gallons of fuel use and dodge about 19 million metric tons of CO2 emissions in the next seven years.
The analysis also highlighted the UK as the undisputed leader in EV suitability across Europe, despite lacking robust national EV incentives. While France, Germany, Italy, and Spain entice EV buyers with upfront purchase incentives, the UK, having withdrawn the Plug-in Car Grant in 2022, still emerges as the frontrunner in EV readiness.
Its findings also revealed a remarkable readiness for EVs in the UK, with 66% of light-duty vehicles primed for the switch, promising significant cost savings for their operators. Compared to other markets in the report, the UK’s EV suitability shone, surpassing Canada (50%), Spain (43%), the United States (38%), Germany (35%), Italy (28%), and France (20%).
Extending the replacement cycle to 10 years could boost the UK’s fleet EV readiness to an impressive 73%. EVs prove their longevity by outlasting traditional vehicles, thanks to savings in service, maintenance, and repair costs.
David Savage, Vice President for the UK and Ireland at Geotab, said;
“The idea that the UK is not ready for mass EV adoption is a fallacy. On the contrary, it’s time for British businesses to ‘double down’ on fleet electrification – not just for the good of the environment and our collective climate goals but for their bottom line. A visionary CEO of a business operating a vehicle fleet could effectively pay their own salary by going electric, thanks to EVs’ financial savings.”
The Taking Charge study dives into real-world telematics data, uncovering the potential of transitioning from internal combustion engine (ICE) vehicles to EVs in light-duty fleets, and the massive financial and CO2 savings up for grabs.
The report unveils a game-changing opportunity: British organisations could slash the total cost of ownership (TCO) per vehicle by £13,279 over seven years, translating to £876,414 in savings for a fleet of 100 vehicles.
These insights come courtesy of Geotab’s cutting-edge EV Suitability Assessment (EVSA) tool, which customises EV adoption recommendations based on fleet-specific needs and driving patterns. It pinpoints which vehicles can be replaced with available EV models, forecasting financial savings and environmental benefits.
Geotab’s report paints a compelling picture. Despite prevailing scepticism, the UK stands out as Europe’s prime market for EV adoption. With 66% of vehicles ready to go electric, the potential for massive cost savings and environmental benefits is undeniable. While government incentives may lag, the data speaks for itself. It’s time for British businesses to seize the opportunity and electrify their fleets.
