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Connected transportation solutions company Geotab says two-thirds of vehicles operated by private and public sector organisations in the UK are ready to go electric.
The ‘Taking Charge: On the Road to an EV Future’ report analysed driver data from 1.3 million vehicles across seven countries over 12 months. The UK was singled out as the most ‘EV suitable’ market in Europe, with the report suggesting 66% of light-duty vehicles are ready to go electric.
David Savage, VP 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.”
France, Germany, Italy and Spain offer buyers up-front purchase incentives while the UK government withdrew the Plug-in Car Grant in 2022. However, based on a seven-year replacement cycle for a fleet vehicle, the UK is the most promising market.
British private and public sector organisations could reduce the total cost of ownership per vehicle by £13,279 over seven years, a saving of £876,414 on a large fleet of 100 vehicles.
In an additional three years, 73% of fleet cars and vans in the UK would be ready as EVs have a longer usable lifespan than ICE equivalents due to service, maintenance and repair savings.
There has been increasing concern regarding the UK’s ability to pursue mass EV adoption, with many suggesting the UK is not ready to support the switch to electric. However, figures shared by Geotab’s EV Suitability Assessment tool suggest otherwise.