Electric Vehicle Expert Simon King, Senior Partner at Edenseven, Shares His Insights
Battery Electric Vehicle (BEV) car sales declined by 34% in December 2023, and their overall market share contracted throughout the year. BEV van sales remained flat, holding steady at under 6% market share. Does this signal the end of the road for electric vehicles?
Absolutely not! Despite what the Daily Billionaire and certain fossil fuel or hydrogen interests may suggest, the EV transition is far from over.
The Zero Emission Vehicles (ZEV) Mandate: A Game Changer
The ZEV Mandate is here to stay, requiring Original Equipment Manufacturers (OEMs) to significantly ramp up their BEV sales:
- 2024 targets: A 33% increase in BEV car sales and a 69% rise in BEV van sales compared to 2023.
- 2026 targets: A 100% increase (doubling) in BEV car sales and a 300% surge in van sales.
- Non-compliance penalty: OEMs will face fines of £15,000 per vehicle if they fail to meet their targets.
What to Expect in 2024
- Aggressive EV Sales Strategies OEMs will push BEV sales harder than ever, offering attractive deals to meet their targets. Expect significant incentives and discounts as they work to avoid hefty fines.
- The Cost of Inaction for Fleets Any fleet that is not already 100% BEV for cars and well advanced in transitioning vans will be incurring unnecessary costs. Awareness of this financial burden will grow, and businesses will face increasing pressure to act. This shift also aligns with TCFD and CSRD reporting requirements.
- Continued Misinformation About EV Viability Critics will continue to argue that EVs are impossible or don't work for us. While exceptions exist for certain vehicle types, the vast majority of fleet vehicles can and should transition to electric.
The Financial Reality of Delaying EV Adoption
Since 2019, every non-BEV vehicle added to a fleet has cost businesses thousands of pounds annually. For every 100 non-BEV cars in operation, a fleet incurs approximately £160,000 in additional annual costs.
The Call to Action: The End of the ICE Age
Fleets must act now. Transitioning to 100% BEV for cars and rapidly phasing out ICE vans is no longer optional - it’s a financial and regulatory imperative. 2024 marks the end of the internal combustion engine (ICE) era.
How We Can Help
edenseven offers tailored fleet decarbonisation solutions, guiding businesses through the complexities of electric vehicle transitions. From data-driven analysis and infrastructure design to driver training and project management, edenseven ensure a seamless move to a zero-carbon fleet.
If you need help optimising your fleet’s efficiency while cutting costs and emissions - making your sustainability transformation effortless,
Get in touch today.