VEV shares 2023 fleet industry insights and critical success factors for fleet electrification in 2024

  • Power supply and cost optimisation are the key considerations to prioritise next year, with data analysis named as the best tool to do this successfully.
  • 2024 will see an upsurge in the electrification as-a-service model to relieve the upfront capex burden. Fleets doing this are already gaining a competitive advantage.
  • When correctly implemented electrification can save energy and maintenance costs, bolster sustainability credentials and provide access to low carbon contracts.
  • Electrification and digitisation combined also deliver more efficient operations enabling lower costs and higher margins versus todays diesel fleets.

London, UK (December 19th, 2023)VEV, the e-fleet solutions provider backed by Vitol a world leader in energy has shared the insights fleet owners need to have to succeed on their electrification journeys in a new and rapidly shifting industry. VEV has supported large commercial fleets through the challenges of EV transitions during 2023.

Both macro-economic and sector challenges presented hurdles for fleets this year. From inflation rate increases and recession fears, to reservations around sufficient charging infrastructure, fleet owners were concerned with the level of investment needed to electrify, and the practicalities of developing and executing a robust electrification plan.

Mike Nakrani, CEO of VEV said:

“Given the scale of their operations, fleet owners and managers have expressed worries about how much time, operational change and capital expenditure is needed to even start their fleet’s path to electrification. Their concerns have been compounded by the delay in the ban on the sale of new ICE cars and vans from 2030 to 2035, with some deeming the move to have shifted the goalposts and requiring a rethink.

“However, it is essential for fleets to recognise that these challenges should not detract from the huge opportunity that electrification offers and the benefits of starting now. When correctly implemented electric fleets can save energy and maintenance costs, bolster sustainability credentials and provide access to low carbon contracts. Also, electrification and in turn digitisation provides more efficient operations enabling lower costs and higher margins versus today’s diesel fleets. The fleets that are recognising this now will maximise their value over the next two years and get an edge over their competitors.”

As the industry looks ahead to next year, fleets are set for a critical turning point. As part of its consulting practice, VEV has revealed that fleets are increasingly recognising the importance of an optimised power supply. From identifying the right energy sources and tariffs to analysing grid capacity, evaluating accurate requirements for EV charging, and designing microgrids with solar generation and battery storage, it’s essential for fleets to make informed, data-driven decisions to efficiently power their fleets at the lowest possible cost.

Mike Nakrani continues:

“Power supply, cost optimisation and upskilling for EVs are the key factors fleets need to prioritise next year. Support such as the government’s recently announced £70 million scheme for boosting motorway service area charging, and its commitment to install 300,000 public electric vehicle chargepoints by 2030, are welcomed and will help reinforce confidence in EV range. However, fleets themselves still need to work smartly to develop their own optimised charging solutions and vehicles within their budgets.

“Working with an electrification partner to upskill their teams on obtaining vehicle and energy data, interpret it, and use it to make better decisions is also critical. Fleets doing this are already seeing a competitive advantage in many of their use cases and those that follow suit will set themselves up for success next year and for years to come.

“We predict an upsurge in the adoption of electrification-as-a-service next year to help manage the upfront financial burden. It’s a model that moves the EV investment from capex to opex through a managed service rather than purchasing the entire fleet and infrastructure, and it’s one that fleet managers are increasingly becoming interested in.”

For media inquiries or further information, please contact VEV’s media kit is available here.

About VEV

VEV helps organisations deliver on their carbon reduction ambitions with an end-to-end fleet electrification solution that integrates across vehicles, charging infrastructure and power.  VEV is owned by Vitol, a world leader in energy, which to date has committed circa $2 billion to sustainable energy initiatives worldwide.

VEV navigates the complexities of EV transformation to design and implement cost-effective EV fleets optimised for specific fleet requirements.  We support EV fleet operations to guarantee resilience and keep mission-critical fleets running at scale. Bespoke, scalable business solutions are designed around the client’s own fleet data analysed by a powerful assessment tool and our experts in energy and sustainable e-mobility.  VEV sets businesses up for success in an electrified future.

VEV’s fleet management platform includes fleet assessment tools to analyse a fleet’s electrification readiness and dashboards to manage real-time EV fleet operations.  Video walkthough of VEV-IQ

More information at