February 28, 2024

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Adoption of Electric Vehicles On the Rise in the U.S.

U.S. President Joe Biden has been vocal about his goals to boost federal investment in electric vehicles and EV infrastructure since the start of his administration. His proposed American Jobs Plan includes $174 billion for promoting the domestic production of EVs and notably electrifying the entire federal fleet.

The American Jobs Plan will create incentives to continue to lower the cost of and support market demand for electric vehicles. These incentives are a proven policy to support the growing market for EVs, which then drives down the purchase price as the auto industry scales up production and creates incentives for domestic production.

The administration plans to grow the number of charging stations in the U.S. from 42,000 to 500,000 by 2030. Yet even then, perceived upfront costs may deter some state and local governments from purchasing EVs — even those who see EV adoption as an ideal solution to reducing the environmental impact of public fleets.

State and local government leaders interested in electrifying their fleets but put off by the upfront costs of purchasing EVs should take into account the Total Cost of Ownership (TCO) of these vehicles throughout their lifetime. Running a TCO calculation may reveal that an electric fleet can actually present greater long-term savings, thereby easing the path to adoption.

Looking at the TCO equation alone, it may seem like the costs outweigh the returns. But there are aspects to operating EVs that are far more cost-effective than their internal combustion engine counterparts. For example, EVs require less maintenance because there is no need for oil changes or transmission repairs.

Whereas an ICE car has more than 2,000 different moving parts — many of which will need service or replacement at some point — an EV only has 20 moving parts. A study finds that annual maintenance costs for an EV are $330 less than that of an ICE car, and the Department of Energy finds that the average cost of driving an EV is about half the expense of an ICE vehicle.

Certainly, TCO calculations provide essential projections that can facilitate the first steps to adoption. But once purchased and deployed, how can state and local leaders, as well as government fleet managers, know if their electric fleets are truly providing savings over time? This is where vehicle telematics can be hugely beneficial.

Telematics solutions can capture and share detailed, real-time information about how each EV performs, in addition to its location and battery and charging status. These metrics provide valuable intelligence for fleet managers, helping to more accurately measure TCO, improve daily fleet management and even proactively detect issues to enable preventative maintenance. Notably, some of the metrics that managers would be monitoring for can be unique to an electric fleet, including:

  • Historical driving distance data: Telematics solutions can track the exact mileage that a vehicle covered on a particular route or day. This data is also tracked in a traditional ICE fleet, but its purpose on an electric fleet is different.
  • EV charging station maps: EV charging station maps on a telematics app can show drivers and managers where nearby charging stations are, as well as details about those stations. These maps can help inform route planning and decisions about when a driver should stop and charge. If plans to grow the nationwide charging infrastructure are successful, these decisions and the ability to locate stations will become easier in time.
  • Vehicle charge status: Real-time state-of-charge reporting provides visibility into the battery status of each EV so managers can make smarter decisions about where and when to deploy a vehicle.
  • Recharging: If recharging stations back at the lot or depot is limited, real-time, state-of-charge reports can help managers prioritize the order in which vehicles must be charged. They can decide whether to delay charging to take advantage of off-peak electric rates and which vehicles should be plugged into faster charging stations.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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