Purchase Costs of EV Fleet Vehicles

Goals

To identify the average purchase cost of EV fleet vehicles in the US.

Early Findings

  • The U.S. has more than 16 million public and private fleet vehicles on the road. Fleet sizes typically vary, however, the overall top 50 fleet operators manage more than half a million cars and trucks.

EV Cost Insights

  • "In 2018, the battery-cost represented more than one-third of the average mid-size EV cost."
  • Fleet owners are typically interested in knowing the total cost of ownership (TCO) of a vehicle and also focus on lifetime costs (maintenance, fuel, and ancillaries). All-electric cars are said to be cheaper in terms of TCO.
  • EVs are cheaper than their conventional counterparts because of their low fuel (electricity) costs and simplicity (uncomplicated motors, fewer moving parts).
  • However, there currently isn't enough solid data on EV fleet ownership costs.

Light-Passenger Vehicles Price Comparison

  • New York City was the first to release a report which "analyzed the fuel and maintenance costs for 1,893 of its 9,196 light-passenger vehicles in 2018. It found servicing costs with all-electric vehicle models was less than for gas, hybrid, and hybrid plug-in models."
  • New York City’s fleet management agency reported the annual costs of different car models as follows:

Leaf (All-Electric)

Prius (Hybrid)

Fusion (Gas)

Maintenance Costs of Electric Vehicles (2018)

  • Bolt (all-electric) $205
  • Leaf (all-electric) $344
  • Focus (all-electric) $386

Summary

  • For the initial hour, we tried identifying as much of the requested information as possible. We were able to identify some early findings on the purchase cost of EV light-passenger vehicles.
  • Our findings indicate that there currently isn't enough solid data on EV fleet ownership costs. We also found that fleet owners are typically more interested in knowing the total cost of ownership (TCO) and the lifetime costs of a vehicle.
  • For the proposed next steps, we categorized light-duty and heavy-duty trucks, based on the vehicle classifications defined by the United States Environmental Protection Agency (EPA).
  • Feel free to select or add an option below.

Proposed next steps:

You need to be the project owner to select a next step.