More Evidence EVs/Hybrids Going Mainstream: Ricky Beggs Column

Black Book VP, Managing Editor Ricky Beggs’ thinks electric vehicles are going to make it – through fleet acquisitions and remarketing.  Some may disagree, and see consumer retail purchases eventually growing and playing a lead role in the long-term growth of EVs, but fleets are considered the actual early adopters and are getting into this segment faster than expected. Beggs made a few points about the expensive entry price for EVs and limited charging stations, plus potential solutions as fleets make supply and demand flow:

“Fleet companies hold the real key to true EV/hybrid penetration since they can absorb the cost to entry in relation to fuel savings when multiplied across the entire fleet.

Individual shoppers have a hard time justifying the expensive entry point when they are saving just $1,000 per year; A fleet company multiplies this by 500 cars to see real savings.

As more fleets purchase and use EV/hybrids, a larger quantity eventually will be unloaded to the wholesale market; this increased supply will help drive down prices for everyday consumers.

This natural flow of supply and demand, more than anything else, will be what brings more EV/hybrid vehicles to market in the near term.”