Electric vehicles (EVs) or electric cars are believed to be gradually becoming a part of homes and businesses because of their benefits. But for some business owners, switching to electric-powered automobiles can be an undertaking despite knowing that there are proven long-term advantages such as significant savings and minimizing toxic emissions.
If you’re a business manager looking to adopt EVs in your fleet, here are tips on transitioning from gasoline or diesel-powered vehicles to EVs:
Consider The Type Of Electric Vehicle
Creating a plan to transition to EV use includes knowing the fundamentals. Not all EVs regarding operations, charging, and power sources are the same. You can choose from different types of EVs to add to your fleet. It all depends on what is convenient for your business. Here are the styles you can learn about:
- Plug-In EVs (PHEVs)
PHEVs are rechargeable at any power source with compatible sockets or plugs you can use with a charging cable. The electricity is then stored in a battery to power the motor.
Plus, some models have an internal combustion engine capable of recharging the battery to make the driving range longer. They can reach up to 50 miles in EV mode and use less gasoline and emissions.
- Hybrid EVs (HEVs)
These EVs combine electric motors, a battery pack, and an internal combustion engine. Unlike plug-in EVs, HEVs can’t be recharged through an external source. The battery uses regenerative braking, reversing the electric motors that propel the vehicle. The energy is fed back to the electric system to get more range.
- Fuel Cell EVs (FCEVs)
This type of EV converts hydrogen into electricity using an electromechanical process to power the electric motor. FCEVs use compressed hydrogen gas in a dedicated tank that doesn’t use electricity from an external source.
Once you find the right EV to fit your business needs, you can find ways to obtain them.
Consider Ways To Obtain EVs
You’d want to consider getting one or more EVs for your business. The average pricing for an EV by the end of 2022 is USD$61,488 which not all companies can afford. You can buy one or a few for your fleet if you have the budget, but there are a few alternative ways to add some. Here are some of them:
- EV Car Subscription
Your business may be thriving, but you can still benefit from saving on costs when adding EVs to your fleet. That’s why if you haven’t tried an electric car subscription yet, you can search for a legit company that offers electric cars.
Car subscription is a business model that allows individuals and businesses to drive new car models. The difference is that you can use the vehicles without the need to buy insurance for them. Even the subscription company handles the maintenance, which will charge monthly fees and even allows the customer to change cars. It’s a good option for those trying different vehicles without worrying about maintenance.
Further, car subscriptions are considered long-term rentals with unlimited access to various services. You can expect roadside assistance in case the car breaks down on the road too.
Companies offer terms such as how many miles you’re allowed to drive the vehicle you subscribed to, such as 1000 miles per month. But some companies will agree to additional miles for a fee. You can choose from increments of 200, 500, 750, or 1000 additional more, which is perfect for businesses.
Other benefits of electric car business subscriptions include the following:
- One-day approvals;
- Delivery within the week; and
- Car swaps with a notice of 30 days and no deposits to pay.
- Buy Used EVs
Buying used and reconditioned cars is also an option if you can’t afford a new one.
As of July 2022, the prices of used EVs are at USD$40,714. But that’ll depend on the model and range. Some EVs also sell for around USD$10,000, with older models that also cost less. If you want to own an EV for your fleet fully, you have the option to look for older models that are around two years as well. They’re available on the market and significantly priced lower than the newer models. The latest brands are often introduced as luxury and can still be expensive even when selling secondhand.
When you’re shopping for used EVs, assess your needs. If your fleet is used for deliveries, consider models that can offer longer ranges rather than shorter commutes. If you need one for the use of certain employees for doing non-delivery business, the shorter-range ones will suffice.
Finally, consider fuel efficiency and the cost of gas in your area. You can buy a fully electric car or still get a hybrid that offers multiple options for power.
- Apply For Financing
You can find financing options for EVs suited to these types of cars. Some auto loan companies make it available for individuals and businesses to finance EVs for as low as USD$400 per month.
You can apply online, which makes it easier as you don’t have to drop by the office. First, apply for pre-qualification that won’t impact your credit score. Loan terms are available for you for as long as 84 months, depending on the lender. Funding also comes fast for as short as 1-2 days because many lenders these days are said to see the value of owning an EV.
These are only some of the ways that you can add EVs to your fleet. These options make it easier to add eco-friendly vehicles to your fleet, making your business sustainable while helping the environment at the same time.
You can get EVs for your business by researching what kind of EV you want to add to your fleet. Then, research ways that you can obtain EVs.
How can your company purchase EVs for business purposes? You can explore electric car subscriptions that allow you to drive different models without spending on maintenance and insurance. Meanwhile, you can look into the used EV market, where you can source used EVs that are still in good condition. Another option is to apply for financing, allowing you to own an EV in installments in which you don’t need to spend an arm and a leg to use and own an EV.