In their 'Taking Charge' report, Geotab analysed data from 1.3 million vehicles across seven countries over a year, exploring real-world telematics to assess the viability of switching from internal combustion engine (ICE) vehicles to EVs in light-duty fleets, along with the potential financial and CO2 emission savings.

To be considered suitable, the EV must be both range-capable (able to operate on a single charge for 98% of the days in a year) and economical, meaning it has a total cost of ownership (TCO) that is less than or equal to that of a new ICE model.

The UK leads in potential for EV fleet adoption compared to other countries studied, including Spain (43%),Germany (35%), Italy (28%), and France (20%).

Geotab’s ‘Taking Charge’ report shows that in the UK, two-thirds of vehicles are 'EV suitable,' indicating they are range capable and that switching to electric could save money—an average of £13,279 per vehicle over seven years, which is the typical replacement cycle for a fleet vehicle.

The findings also indicate that transitioning fleets to electric vehicles could save 2.2 billion gallons of fuel ,used by conventional vehicles and prevent approximately 19 million metric tons of CO2 emissions over the coming seven years.

The full Geotab ‘Taking Charge: On the road to an EV future’ is available to download.

To find out more about switching your fleet to EVs, and the options available to your business please contact us: enquiries@lease-electric.com