You can save an average of $632 per year compared to a gas-powered vehicle for every electric vehicle (EV) you introduce to your business. Some big corporations have already adopted EVs as part of their business model, including Amazon, Uber, DHL, AT&T, and Frito-Lay.
Cut Fuel Costs
2022 has been an expensive year for fuel. In June, the average price per gallon of gasoline was $4.99. In June 2020, it was just $2.04, according to Finder.
68% of small businesses say that increasing gas prices are having a very significant impact on their economic recovery. When you buy an EV for your business, there’s no need to worry about the price of gasoline.
Energy Sage reports that it’s around 3.5 times cheaper per mile to charge an EV than it is to fill up a vehicle that runs on gas. These savings could make all the difference to your business and will drastically cut your annual expenses.
Good For Business
Consumers care about the environment and they want to see that businesses care too. 85% of people say they’re making greener purchasing decisions and 92% of people say they’re more likely to trust brands that show they’re environmentally conscious.
There’s no better way for your business to show this than with an EV as they emit up to 43% fewer emissions than diesel vehicles.
Having EVs is good for your company’s brand as it gives you a USP and shows you in a positive light. EVs often turn heads too because of how quiet they are and their sleek performance.
Fast and Convenient Charging
An EV is best driven when the battery life is between 20 and 80%. One of the most common reasons why businesses don’t switch to EVs is because they have range anxiety – this is where they fear that their vehicle will run out of power before arriving where they need to get to.
But there’s no need to worry as you can top up the battery of your EV at one of the 50,000 EV charging stations in the US. There is usually a charging station within a 10-mile radius and they’re easy to find online and on apps.
A decent charge can be done in between 20 to 30 minutes. This gives your employees the opportunity to recuperate and refuel too. After all, breaks are recommended approximately every 2 hours to reduce driver fatigue and to keep road users safe.
Better For Your Employees’ Health
Did you know that the inside of a vehicle can contain more pollutants than the outside? These pollutants are dangerous and studies have found a link between them and increased heart rate, raised blood pressure, and drowsiness.
All of these things could put a driver at a greater risk of being involved in a road accident. These pollutants don’t just come from the vehicle being driven, they’re also from other vehicles being driven around.
The more EVs there are on the roads, the fewer gasoline and diesel vehicles there will be which is better for everyone. Also, as your employees will feel better, they’ll be happier with themselves. You’re more likely to retain happy employees which will save you recruitment costs.
EVs are more expensive than gasoline vehicles to buy. The average cost is currently $65,291 compared to $48,301 for a non-EV.
As a business owner, it can be hard to justify such a difference in cost. But there are government incentives in place that make EVs more attractive prospects for businesses.
As of January 1, 2023, a tax credit of between $7,500 and $40,000 is available for businesses buying EVs. The amount will vary depending on the type of EV purchased, with large trucks qualifying for the higher amount.
There are fewer parts in an EV than there are in a traditional vehicle. As a result, less can go wrong, so maintenance and breakdowns are less common. This is great for your business as it will save you money.
It costs around $330 less per year to maintain an EV than a gasoline vehicle. There is also a smaller chance that your vehicle will be off the road for a significant length of time for repairs, so your downtime will be reduced.
Whether you’ve got one business vehicle or a fleet of business vehicles, EVs can bring big advantages. From slashing your annual fuel costs to improving the health of your employees, you’ll find that an EV does wonders for your company.