How EV Adoption Can Help Businesses

With growing economic opportunities, businesses are booming in India. Amidst global uncertainties, the country has emerged as a rising power with a strong and positive outlook. With digitalisation, deeper internet penetration, and technological advancements, ecommerce has witnessed massive growth, propelling the need for last-mile delivery. 

The developments in the logistics sector, backed by a large-scale infrastructure push by the government, have opened new growth avenues. As these promising developments continue to accelerate, businesses now have larger responsibilities to cater to the growing demand and also take part in the sustainability mission, which is the need of the hour. 

Electric vehicles, which are cleaner, greener and cost-efficient solutions for transportation needs, have become the most viable choices for companies. Electrification of fleets can not only bring huge financial gains for companies but can also help them champion the cause of sustainable development as well.

Reduced Costs & Lower Maintenance

EV adoption can support businesses in their cost-cutting measures. With rising prices of conventional fuels such as petrol and diesel, an EV can undoubtedly bring financial advantages. 

The government has introduced various policies and tax benefits to encourage the transition to electric variants. Businesses can greatly benefit from them to reduce costs of fleet ownership for more savings. 

One interesting fact about EVs is that one can save close to INR 75K annually if someone rides an EV for 100 km per day for a year, keeping 24 days a month, driving their ROI in less than a year, one can save over INR 2 Lakh in three years. 

When compared to EMIs, if a petrol vehicle is given as a buyback and used as a deposit for purchasing an EV, the monthly EMI for that EV will be around INR 3K to 3.5K per month for three years. The important point to be noted here is that the cost saved is higher, and the per month saving would be INR 5K to 5.5K, which means they end up saving almost 2K after paying the EMI.

In comparison to a conventional ICE vehicle, an electric vehicle has fewer components that are less prone to failure and require less maintenance. As a result of advancements in battery technology that reduce range anxiety and charging time, the organisation can save time and focus more on other critical aspects of the business for growth. 

Lower Carbon Footprint

The impact of climate change is now visible in our daily lives. Organisations have the huge responsibility of taking part in the sustainability mission by reducing their carbon footprint.  Transportation is one of the major carbon emitters, and companies can address this by electrifying their fleets. 

With a low carbon footprint, they can play a crucial role in the transition to a cleaner, greener and healthier future. It can also bring health advantages for drivers who currently drive on roads and expose themselves daily to air pollution. Electric vehicles are noise-free and carbon-free and thus can greatly help drivers and ease the job for them. 

Furthermore, the electrification of fleets can lower risks of pollution, help companies comply with government regulations, and become sustainable and responsible businesses.

Attract Investments & Customers

The growing consciousness around the importance of sustainability-driven business operations is encouraging investors to invest more in companies that have a green roadmap in place. They are more willing to become a part of organisations that are responsible and actively participating in green endeavours. 

The electrification of fleets can increase the credibility of companies in their eyes. Additionally, customers nowadays are more willing to take services or products from those who prioritise sustainability. Having EVs for operations can definitely be an important step to not only accelerate the transition to green practices but also attract valuable investors and customers.

Becoming Productive With Technology

Technology is bringing a great transformation across sectors, resulting in ease of operations and better management. Today, advanced electric vehicles are loaded with features that offer live tracking, real-time monitoring and regular updates on battery conditions on mobile apps to enhance productivity and smooth operations. 

The IoT-enabled devices further help the drivers with traffic updates, weather updates and navigation for better route planning. Additionally, digital solutions are capable of sending alerts in case of emergency or theft to ensure timely help or support. These benefits greatly help companies to enhance productivity, ensure timely delivery and gain a competitive edge as well.

Electrification of the fleet is definitely an important step towards a sustainable future, but apart from environmental gains, the range of benefits for businesses is also a reason why organisations should switch to EVs to stay ahead of the race in a highly competitive environment.