Fleete’s TCO calculator aims to provide cost parity

Fleete, a charging solutions provider, has launched a free, open-source Total Cost of Ownership (TCO) calculator to support the industry in exploring how eHGVs can achieve cost parity with diesel, and the policy levers needed to deliver it.

Research has shown that under certain operational conditions, fleet managers of eHGVs can achieve cost parity with diesel HGVs after five years, and higher mileage operations stand to benefit more.

Drawing on data for both electric and diesel vehicles while providing users with the ability to adjust different variables – such as energy prices, vehicle costs, maintenance, taxation and policy incentives – the tool is designed to drive the conversation around the measures required to accelerate large-scale eHGV adoption.

It also highlights key drivers of TCO, including vehicle and energy costs, infrastructure and regulation.

By featuring built-in scenarios that demonstrate how proposed policy changes and the impact of an external/internal carbon price can affect TCO for diesel and electric HGVs, it emphasises the importance of the right policies being in place to facilitate greater adoption.

Chris Morrison, Chief Executive Officer at Fleete said: “While the business case for electric HGVs is improving, the UK faced the highest energy costs in the G7 last year and continues to lag behind parts of Europe where stricter emissions rules and stronger incentives, such as those in the Netherlands and Germany, are driving faster adoption. Our model shows how a few focused policy measures on electricity non-commodity costs, Vehicle Excise Duty and vehicle weights could help close – and ultimately improve on – the cost gap with diesel.”