One way this trend has manifested is through the steady integration of electric vehicles into the daily lives of Aussies.
Many businesses across Australia have introduced electric vehicles (EV) into their daily operations, citing environmental benefits as one of the main motivations behind the switch.
With EV numbers in the country doubling from 2022 to 2023, and growth still steadily rising this 2024, this trend is only set to grow over the long term as EV innovation starts to ramp up and gain a foothold.
If you’re considering jumping in on this trend, there’s a wide range of benefits you can gain access to with EV ownership. These benefits go beyond the environmental perks of this vehicle too, making it a great long-term investment.
That being said, you may wonder how having an electric vehicle (or several) can benefit you and your business directly. Truth be told, there are many ways a fleet of EVs can create better business opportunities for you.
Let’s explore the ways in which EVs can benefit your business fleet in further detail.
1. Increases Operational Capacity With New Vehicles
As your business starts to expand, you’ll need more assets and equipment to accommodate that growing demand.
Electric vehicles can meet that demand, providing your enterprise with a reliable transportation option to fulfil your operational requirements. Whether you’re planning to use it to transport people or goods, there’s a plethora of EV cars in the market that can get it done.
Furthermore, having an EV in your fleet allows you to diversify the business cars under your name.
If gas prices become outrageously high, or if you need EV-specific technology to fulfil a certain operational need, then having an EV car provides you with a guarantee to meet your needs efficiently.
Think about it this way: if you have the capital to buy a third or fourth gas car or a new EV, it’s often better to pick the latter option. Not only does it diversify your asset classes, but it also allows you to handle a wider range of operational activities that may be best suited for the electric vehicle.
If you’re exploring financing options for your new EV fleet, considering a chattel mortgage could be a beneficial approach, allowing you to manage your cash flow more effectively while expanding your operational capacity.
2. EVs Reduce Running Costs
While electric vehicles may cost more than your gas car will upon purchase, over the long term, they’ll come out cheaper than them in terms of total costs.
This is because charging the vehicle is significantly less expensive than refuelling a gas car. Furthermore, gas cars need constant maintenance and repair work whereas electric vehicles can get away with just one or two touch-ups a year.
Over time, the total cost of EVs becomes less—but the average cost per repair session is still usually higher than that of gas cars. However, this may depend on your EV’s brand, as some like Tesla tend to have expensive repairs because of their brand-specific car parts.
Nonetheless, if you want to stabilise your cash flow while still having access to a good and reliable transportation option, then an electric vehicle is the perfect car to add to your fleet.
3. Provides Access to Electric Vehicle Grants
Depending on your location and eligibility, you may be able to access government grants, rebates, and incentives to lower the cost of acquiring and charging an electric vehicle.
This can significantly reduce your total vehicle acquisition expense, which can grant you more savings for an arguably better vehicle option for your business.
For instance, in Australia, zero-emission vehicles are exempt from paying fringe benefits tax (FBT). This is useful for people who purchased a vehicle under a novated leasing agreement. ACT stamp duty exemption also applies to EV owners.
If you’re buying cars from overseas, the regular 5% tariff rate for imports is also waived for electric cars.
In some cases, there are territory-specific EV incentives that businesses can also claim. Many of them offer perks like financial rebates, charger installation grants, and discounted registration fees.
To get an updated list, browse through your local council’s EV guidelines to see what incentives you can avail when purchasing an electric vehicle.
4. Flexible Charging Reduces Downtime
If you have an EV charger in your establishment, you can simply plug your vehicle and have it charge when it’s idle. You don’t have to change your route to go to a service station and wait a couple of minutes to refuel—which is the case for all gas cars.
This flexibility gives you and your company more time to get work activities done during working hours.
If you bring the car home after work, you can even charge it overnight and wake up to a fully charged vehicle in the morning. This doesn’t cost too much either, as slower chargers don’t generate a lot of electricity to charge a battery.
Out of town or don’t have a charging set-up just yet? That’s no problem, as there are many public EV charging infrastructures in most cities and townships around Australia and its vast road network—many of which are capable of charging from 0 to 100% in half an hour or less.
The ease of charging the vehicle makes the company workflow much smoother and streamlined, which allows business activities to move forward with little interruptions.
5. Future Proof With Modern Technology
The business landscape is constantly evolving, and companies who want to survive need to adapt and incorporate the latest technology to stay ahead of the curve.
Getting electric vehicles is one way of bringing your company up to speed with the latest technology. Having these assets isn’t about showing off, they’re there to give your company a fighting chance to provide the best services possible to its customer base.
Modern EVs aren’t only transportation options, they also have advanced real-time data analytics, enhanced safety systems, and connectivity options that are absent in even luxury gas cars.
Furthermore, these technologies are often pushed by governments due to their green nature. With the world becoming more eco-friendly, having some electric vehicles in your company lineup ensures that your company can easily adjust and transition in the face of any new green-forward governmental policy implementation.
6. Requires Less Maintenance Work
In business, idle time is wasted time.
With an electric car, you’ll have fewer moving parts, which translates to a reduced need to frequently bring your car to a repair facility.
This is unlike the case of gas cars, which may spend a sizable amount of days in downtime due to having more car parts that may need repairs or replacements, such as oil filters, spark plugs, and exhaust systems.
Given this fact, an EV can help you sustain your operational demands, which is crucial for businesses that need to run smoothly every day.
Another neat fact about electric vehicles is their built-in software integration that tracks the status of your car’s individual components, like its battery life. This can make repair scheduling more predictable, which can in turn allow you to plan your repairs ahead in a way that doesn’t disrupt operations.
7. Allows Integration With Fleet Management Software
Due to an electric vehicle’s inherent technological affinity, its infotainment system can be connected with (or already has) robust fleet management software to help track and manage a fleet of vehicles.
For instance, some software solutions can connect with multiple EVs and track important information regarding their status, such as vehicle performance, battery consumption, and energy consumption per charge.
Furthermore, EV-specific software can also create and report analytic data about the electric vehicle’s performance. This can give you informed decisions on how you want to maintain the vehicle, particularly how you can optimise vehicular efficiency and reduce costs.
In any case, electric vehicles and their inherent technological features make them the perfect vehicle type for large-scale tracking and management. This can make it easier for you and your business to utilise your electric vehicle most efficiently.
We hope this article has helped you see the benefits of EVs!
