If you've no account register here first time
User Name :
User Email :
Password :

Login Now

Costs Prohibiting EV Adoption in Fleets, Survey Says

Two out of five financial directors would not pay a financial premium to introduce hybrid or electric vehicles into their fleet, according to a survey.

Lex Autolease, which leases 300,000 vehicles to firms across the U.K., says its poll of 100 financial directors in that country confirms that cost remains a major barrier to entry for many.

However, for just over a third (35%) of those polled, a price premium of up to 10% – compared to conventional fuels – wouldn’t be too much to swallow, Lex said.

The survey also revealed that half of firms (53%) would invest in hybrids and EVs if they could match gasoline and diesel alternatives on a range of criteria, including running costs and convenience of use.

“The fleet industry is renowned for being an early adopter of new technologies and, over the next five years, we anticipate that EVs will become a practical option, in limited numbers, for firms doing a lot of localised ‘back to base’ short journeys,” Marcus Puddy, head of consultancy services at Lex Autolease, said.

“Whether they eventually become a mainstream choice for the company car driver is another matter altogether and this will largely be dictated by how well the current generation of EVs perform on the used car market,” Puddy added.

Related Stories

Sign up for our newsletter

Receive Environment + Energy Leader's top news stories two times each week

© Copyright 2023 C-Suite Compass LLC. Environmental Leader ® is a registered trademark of C-Suite Compass LLC. Privacy Policy.