Fleet Advantage, a provider of heavy-duty Class-8 fleet data analytics, equipment financing, and lifecycle cost management, unveiled a new analytic tool. The new tool offers breakthrough technology designed to help define the future of transportation for corporate fleets.
Fleet Advantage noted that today’s organizations know sustainability is at the forefront of their operational strategies. Still, a significant industry challenge revolves around answering the question of HOW to progress toward a carbon-free future in a viable way efficiently.
Data analytics continue to have a positive impact on businesses and society at large. Fleet Advantage’s new electric vehicle lifecycle cost analysis tool, EVAN (Electric Vehicle Analytic Navigator), aims to help further identify and optimize the total cost of ownership (TCO) for corporate transportation fleets to determine the efficacy of utilizing electric vehicles.
“Fleet Advantage is well known throughout the transportation and equipment finance industries as leading with innovation and developing pioneering analytics that helps organizations maximize their sustainability in operations while also delivering the lowest total cost of operations,” said Katerina Jones, CMO of Fleet Advantage.
To make long-term procurement decisions for your fleet, it's important to have the right plan in place no matter what type of engine is right for your fleet use.
With electric vehicles, there are still so many unknowns about the costs associated with lifecycle use over time, it’s important to have all the analytic tools possible to help make the right decision for your fleet.
How Does the New Analytical Tool Help Heavy-Duty Commercial Fleets?
Fleet Advantage’s new EV Life Cycle Cost Analysis Tool is especially timely as the Environmental Protection Agency (EPA) recently proposed a new and stronger set of greenhouse gas standards for heavy-duty vehicles for model years 2027 through 2032, building from the “Phase 2” greenhouse gas standards established in 2016.
This latest proposal comes on the heels of a NOx emissions rule finalized in December, along with a California waiver mandating the sale of electric trucks.
The proposed Phase 3 rulemaking applies to heavy-duty vocational vehicles, including:
- Delivery trucks.
- Refuse haulers.
- Day cabs.
- Sleeper cabs.
Fleet Advantage stated that it is helping companies build their custom ESG roadmaps supported by our strategic asset management. EVAN plays a crucial role in bridging today’s clean-diesel technology into tomorrow’s alternate-fuel options.
However, every company has a unique “bridge” to cross, and therefore it’s essential to rely on data-driven insights to make accurate apples-to-apples comparisons for sound decision-making.
As part of Fleet Advantage’s comprehensive Fleet Modernization Study, the analytic tool compares diesel versus an electric Class 8 vehicle TCO, with modeling that evaluates fuel and mileage data versus kWh comparisons from the first year through a six-year lifecycle.
EVAN takes into consideration various inputs, including the costs of the following, and converts them into a cost-per-mile (CPM):
- Equipment cost.
- Cost of energy.
- Cost of diesel.
These efforts help determine the total cost of operating an electric vehicle over its lifetime, allowing fleets to decide which type of vehicle is more cost-effective for their fleet.
Beyond alternative fuels, fleets often operate a mix of traditional fuels. Learn more about how to manage fuel over a mixed fleet and be sure to sign up for the Work Truck eNewsletter so you never miss an update
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