Leading the charge! Fleet charging – a catalyst for the EV revolution

PwC & Cornwall Insight have partnered to better understand and explain the rapidly evolving market for fleet electrification.

Fleet charging has the potential to revolutionise EVs. It has the scale to accelerate the adoption of EVs across the UK, improve air quality, lower noise pollution and ultimately play a critical role in meeting net zero.

As a result of this evolution, a myriad of opportunities, as well as challenges, are emerging for fleet managers, charge point operators and investors. While opportunities are the target, knowing what to focus and when will essentially decide who are the leaders and laggards.

KEY FINDINGS OF THE REPORT:

  • Fleet electrification is a critical catalyst that will enable the EV revolution in the UK.
  • Field services, depot-based logistics and leased corporate car fleets are likely to electrify first.
  • Government policy has a critical role to play in enabling the EV fleet transition.
  • The business models of charge point operators need to incorporate some key principles to be successful.
  • Fleet electrification providers will be an attractive opportunity for institutional investors
  • If fleets are to maximise the opportunity of electrification, they need to take some critical and preparatory steps in designing their road map.

Daniel Atzori, Cornwall Insight , Research Partner commented

The electrification of fleets is set to gain momentum, driven both by sustainability commitments and by compelling economic drivers.
Fleets are likely to play a crucial role in the upcoming electrification of mobility and therefore in the decarbonisation of transport.
Since fleets can ensure a high rate of utilisation of charging assets, fleet charging offers a range of interesting investment propositions. Having a clear and well-defined strategy will be crucial for fleet managers, charge point operators and investors looking to achieve leadership in this emerging market.

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