Electrification delivering benefits to businesses

EO Charging – in partnership with Vanson Bourne – surveyed 300+ respondents and found that companies are expecting the adoption of electric vehicles to start paying them dividends. It also reflected the pace at which adoption is happening; more than half (53%) of organisations’ fleets are being electrified on average, five years out from the 2030 deadline when the sale of new petrol and diesel vehicles will stop.

The majority of organisations surveyed (84%) have introduced some kind of net zero initiative, as over half (54%) said cost savings and long-term financial benefits were the main reason they did so.

Public sector organisations are ahead of their private counterparts, with 47% having implemented a net zero initiative compared to 23% in the private sector.

However, in spite of this momentum, greater clarity in policies is necessary, as eight in 10 of respondents (81%) reported that policy fluctuations are affecting their ability to develop long-term electrification strategies.

Furthermore, 80% of UK respondents said global tensions are raising risks around sourcing critical components such as electric batteries.

EO Charging CEO Richard Staveley said: “Fleet electrification has reached a pivotal inflection point, as businesses seek further clarity at a governmental level to plan for the long term and maximise the benefits they’ve seen from initial EV adoption.”

Logistics UK’s Head of Decarbonisation Lamech Solomon said: “The results of this survey show how organisations across the board are committed to decarbonisation strategies and beginning to benefit from making the transition to electric.

“The survey also sends a clear message that businesses depend on clear signposting, as a lack of clarity is affecting long-term strategies. The government will need to ensure policies are delivering this.”