The truck industry will be embracing change due to the emission regulations by the government. Demand for EV’s in the transportation sector is also rising due to the increasing high cost of fuel and sustainability initiatives by private organizations.
What is EV (Electric Vehicle)
EV (Electric Vehicle) is a vehicle that is powered by a pack of rechargeable batteries instead of fossil fuels like current-generation vehicles use. The vehicle needs to be plugged into a wall outlet or high voltage charging station to recharge its batteries. As EV’s don’t use combustion or fossil fuels that burn, the vehicle emits no airborne pollutants. This will be a huge contributor to reducing greenhouse gas, air pollutions and other environmental impacts caused by emissions from automobiles.
Electric Truck Market Statistics 2021-2027
EV is in demand. Let’s see the EV Truck Market.
The global electric truck market size was valued at $422.5 million in 2019 and is expected to reach $1.893 billion by 2027, registering a CAGR of 25.8% from 2020 to 2027 according to statistics from Allied Market Research.
According to the Global EV outlook 2020 from IEA, in 2030, in the Stated Policies Scenario, global electricity from electric vehicles (including two/three-wheelers) reaches 550 TWh, or about a six-fold increase from 2019 levels.
The share of demand due to electric vehicles in total electricity consumption at a national/regional level grows to as high as 4% in Europe. In the Sustainable Development Scenario, with demand rising nearly eleven-fold from 2019 to almost 1 000 TWh, the share of total demand ranges from 2% in Japan to 6% in Europe.
Rising demand for electric trucks
With emission regulations and stringent emission norms adopted by people, the demand for electric vehicles is rising across the world. Major auto manufacturers like Tesla, Volvo, Ford, and Mercedes-Benz manufacture EVs to meet the demand from consumers, contributing to a dramatic reduction in CO2 emissions. As an example, Volvo is committed to producing purely EV’s by 2030.
“I would be surprised if we wouldn’t deliver only electric cars from 2030.”
CEO Hakan Samuelsson recently told the Financial Times Futures, as reported by Automotive News.
Advantage of owning an EV
Owning an EV has many benefits.
Save your money
Because EV’s runs on electricity instead of fossil fuels, it is much more affordable to drive. The average Canadian driver, traveling 20,000 km per year, can save as much as $2,000 per year on fuel alone.
In addition, EV’s don’t require oil changes, mufflers, or exhaust systems which saves a lot per year on maintenance.
Conventional vehicles burn fossil fuels which produce hazardous chemicals and greenhouse gas emissions. These pollutants contribute to air pollution and climate change.
In contrast, an EV uses an electric motor, so it doesn’t produce any tailpipe emissions.
Our Blog last week discussed US truck emission regulations. Governments across the world are putting pressure on vehicle manufactures and the truck industry to reduce carbon emissions caused by diesel fuel to tackle greenhouse gas emissions.
As a result of this, and greater adoption of EV’s in consumers, it is expected that half of the passenger cars and light trucks sold by 2030 will be zero-emission vehicles in North America.
EV Fleet Management Software
Using Fleet Management Software helps businesses save money, while increasing profitability, efficiency and safety. It helps you optimize routes, monitor fuel, vehicle health and diagnostics, such as engine status, fuel consumption, and mileage. See the real-time location of your fleet and notification alerts for things like idle & dwell time, excessive speeding and reckless driving.
Apart from fuel management, these same benefits apply to EV’s. EV Fleet Management Software enables your EVs to optimize charging and always keep them ready to go. The following are major features EV Fleet Management Software has.
Battery kW Usage by Trip
Just like fuel consumption by the trip, EV’s use a metric of Wh per Kilometer or Mile, giving us the ability to calculate EV efficiency by vehicle, by the trip, and over time. This efficiency report provides insight into battery consumption while driving, evaluating the energy efficiency of each EV in your fleet, including factors like driving behavior by a driver, which can massively affect overall efficiency.
EV charging report
A charging history of your EVs provides you when and where vehicles are charging, the length of charging time, kW h charged, and location. This report gives you deeper insight into each EV to monitor their charging history and what current level of the charge they have.
Real-time charging status
It enables you to track and monitor your EVs’ charging status in real-time and get alerted whenever the battery reaches a critical level and needs to be charged.
It provides not only optimized routes for your EV fleet, but also nearby charging stations while ensuring that dispatched EVs have enough battery to complete the task.
You can monitor your vehicles’ battery capacity and health in real-time. Analyzing battery health based on weather, usage, and charging habits can help you optimize your vehicles’ performance.
Start Electrifying your Fleet today with LVM Track
By 2030 you’ll start to see this industry change come into effect. Prepared your fleet and optimize your EVs with our Fleet Management Software.
Contact us today for more information about our fleet management system.
Contact us today!