Commercial vehicle drivers: is it time to switch to electric?

According to the International Energy Agency, the electric vehicle market will expand rapidly over the next few years as new models hit the market and subsidies are set to roll-out across the globe. 

For trucking companies and commercial fleet insurance companies like Rideshur, this could mean that it's time to rethink their business models.

Overall, this is key in ensuring that their fleets and covers can accommodate the switch from diesel vehicles to electric ones, offering economic and environmental benefits.

If you are considering this switch, you need to consider a few factors. In this piece, we take an in-depth look at all these factors.

Gasoline vs. electricity cost

While electric trucks and vans are more expensive up front, they can be a lot cheaper in terms of fuel costs over time. A typical Class 8 truck can use between $30 and $45 per gallon of diesel fuel.

As a result, this can add up to roughly $1,800 every 10,000 miles. The U.S Department of Energy estimates that an electric vehicle will cost only about a dollar per 100 miles driven when factoring in savings from fuel costs and subsidies for purchasing an EV.

Noise reduction

Gas powered vehicles produce noise and a lot of it. Electric vehicles are significantly quieter, leading to a better experience for passengers and pedestrians alike.

The lack of exhaust means less noise pollution as well; they're easier on your ears as well as your lungs and don't come with any tailpipe emissions.

They're also environmentally friendly to boot. If you're driving around in an electric vehicle, you can relax knowing that you aren't contributing to harmful exhaust fumes and greenhouse gas emissions.

Charging stations

Until recently, electric vehicles were only good for short trips around town. But as charging stations are popping up all over, things are changing. 

According to CNET's Roadshow, electric cars will be able to drive much farther than they can today. The reason: D.C. fast charging stations that can get most electric vehicles charged in about 30 minutes. 

There is a caveat - the car must have a fast charging port. Another option is Level 3 charging, which takes several hours but requires no extra hardware beyond what your local gas station likely already has.

Future technology

Today, there are many electric trucks on roads around Europe and other parts of the world.

In places where they operate commercially, these vehicles eliminate tailpipe emissions while producing little or no noise pollution. Several companies have announced plans to release hybrid electric trucks by 2020.

However, these vehicles will not travel long distances without stopping for a recharge.

A fully electric long-haul truck may not be feasible until after 2030, when we expect battery technology to advance further and costs will come down enough to make them affordable.

Better functionality

One of the biggest advantages of electric vehicles is that they are easier to power. There are many smaller components, making it easier to operate and maintain them. 

Fewer moving parts also means they require less maintenance overall.

Because they are electric, they are also much quieter than their gas powered counterparts, which can be a huge bonus if you're doing any type of delivery or construction work that requires working at night or in quiet neighbourhoods.