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Green Transportation

Low “fuel costs” lower total cost of ownership of E.V.’s – Pike

The lower “fuel cost” or cost of charging of electric vehicles gives it a lower total cost of ownership compared to conventional vehicles and other alternative fuel vehicles, according to Pike Research.

Of the 17 vehicles tested in the study, battery electric vehicles proved to be the least costly overall in terms of total cost of ownership – also taking into account the federal tax credit available for electric vehicle purchases.

“[Battery electric vehicles] offer higher overall fuel efficiency than conventional hybrids and low electric range plug-in hybrids,” said senior research analyst Lisa Jerram. “That’s a major reason why battery electric vehicles have been experiencing a resurgence of automaker and consumer interest over the past few years, particularly for fleet operations.”

Compared to private consumers, fleet operators would focus more on total cost of ownership over the upfront cost – making fleets an attractive early market for electric vehicles.

However, the cost of E.V. charging equipment is a cause for concern from fleet operators, more so then for auto manufacturers.

Nevertheless, many fleet operators see E.V.’s as a way to streamline operational costs while reducing the environmental impact of their fleets.

Currently, many government and utility fleets who have already adopted E.V.’s have started implementing Level 2 charging systems, which supply up to 19.2 kilowatts. – EcoSeed Staff

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