Tesla, BMW, and Porsche, among others, have targeted tech-savvy affluent consumers with their electric vehicle marketing.
Nevertheless, businesses in the US, Europe, and Asia are progressively assisting commercial fleet managers with the move to electric vehicles through software, logistic service providers, and charging infrastructure.
To satisfy both regulatory mandates and consumer demands, commercial fleets are attempting to reduce their carbon emissions. Deploying EVs is a clear way for them to accomplish this.
Managing EV routes and charging schedules meticulously is essential, but the added benefit of fewer mechanical parts and lower maintenance needs is worth it.
What was the unexpected outcome of just one study? Bridgestone surveyed 1,800 fleet managers from 15 countries. Among them, 32% said that EVs would have the most influence on fleet management in the next five years, while 30% predicted that AI and ML would be the most significant.
TechMag delves into the future of fleet management.
Data Analytics Change How Fleets Operate
When it comes to managing a fleet, electric vehicles and data analytics are inseparable. In fact, over the next five years, fleet managers anticipate investing more in digital fleet solutions.
Here are a few important numbers:
- Only around a quarter of fleet managers have really implemented AI.
- 35% intend to use AI during the next 5 years.
- AI is expected to improve logistics and route planning, according to 62% of respondents.
- Nearly 60% of people think AI will make roads safer.
- 55% of respondents mentioned improved asset management and predictive maintenance as two important benefits.
In the meantime, 85 percent of fleet managers anticipate an increase in the proportion of electric and hybrid vehicles within their fleet over the next five years.
Among the revolutionary technologies that will further improve fleet management are electric vehicles and artificial intelligence, according to Jan-Maarten de Vries of Bridgestone Mobility Solutions, president of fleet management solutions.
What gives fleet managers the will to prioritize AI and EVs? In what ways might these developments shape fleet management’s trajectory going forward?
How Electric Vehicles Benefit Commercial Fleets
Compared to fleets powered by internal combustion engine (ICE) cars, electric vehicles are more cost-effective when considering the total cost of ownership (TCO) of each vehicle. This includes not only the initial investment but also ongoing expenses like fuel, taxes, and insurance. Further cost savings for businesses can be achieved through government-provided tax incentives, subsidies, and grants.
According to Bridgestone’s survey, fleet managers who plan to change their fleet’s vehicle mix in the next years anticipate a 63% increase in the use of electric and hybrid vehicles, from 37% in 2018 to 63% in 2029.
Electric vehicles have many benefits for business fleets:
- Reduced operational expenses: Electric vehicles are quickly gaining favor with business fleet managers for their cheap running costs, low maintenance requirements, and generally lower electricity prices compared to diesel or gasoline fuel.
- Fleet managers view EVs as a way to run more environmentally friendly operations, which is good for the environment. They can lessen their impact on the environment, comply with regulations, and win over consumers who are seeking sustainable brands thanks to EVs’ zero tailpipe carbon dioxide emissions.
- Energy management: To maximize efficiency, fleet managers can monitor the energy use of each vehicle using data analytics. Machine learning can also assist with charging schedule optimization, allowing electric vehicles to take advantage of cheaper electricity during off-peak hours.
- The operational life of an electric vehicle (EV) is often longer than that of a conventional vehicle (TDV), since fewer moving parts mean less wear and tear. Improvements in battery technology are also extending the range and longevity of electric vehicles, and software upgrades may be applied over-the-air, allowing for more features to be added without physically taking the vehicles to a garage.
How AI Can Optimize EV Fleet Operations
Fleet managers can alleviate range anxiety with the use of data analytics. This is the fear that electric vehicles might not have enough power or charging stations to finish their routes.
Embedded data in electric car systems gives real-time data on charging status, driving habits, battery life, and vehicle location. With the use of AI algorithms, this data can be analyzed to spot trends and make predictions about how the vehicles will behave. This provides fleet managers with a comprehensive picture of how each vehicle is operating and useful information to guide their decisions.
In order to better organize the movements of their vehicles and avoid interruptions, fleet managers can benefit from algorithms in the following ways:
- Predictive maintenance: By analyzing onboard data, machine learning algorithms can track battery health, spot any problems, and estimate when maintenance is needed for a vehicle. This keeps fleets operating at peak efficiency by reducing the frequency of unanticipated breakdowns and minimizing downtime.
- The use of artificial intelligence algorithms allows for the optimization of routes by taking into account factors such as delivery times, traffic, battery life, availability of charging stations, and vehicle efficiency, among other things. So, routes can be changed on the fly to keep vehicles near charging stations and prevent them from going completely dead.
- Charging optimization: AI can monitor vehicle usage and find the optimal charging times and places, allowing fleets to make the most of off-peak charging stations.
- Saving energy: AI can track the charge level of a vehicle’s battery and evaluate the data to figure out when to charge it and how quickly it will die. Also, it can provide drivers tips on how to save power when driving, such as reducing excessive idling, speeding up, and braking suddenly, all of which drain the battery faster.
The Potential for Autonomous Vehicle Adoption
The technology has the ability to revolutionize fleet management once again, even though fully autonomous vehicles have not yet achieved commercialization.
Self-driving cars are able to understand their immediate surroundings, take in data from their sensors and radar, and process it all thanks to artificial intelligence. As a result, labor expenses can go down and vehicle safety can be enhanced with less room for human mistake.
Nearly half of the fleet managers surveyed by Bridgestone cited increased driver and vehicle safety as the main justification for implementing fleet management technology.
There Might Still Be Bumps in the Road
Companies confront a number of obstacles when attempting to integrate AI systems and EVs into their business fleets, despite the obvious benefits. Businesses should include the expected long-term savings when calculating the initial cost of purchasing EVs and implementing AI-powered systems or services.
For long-distance, large-scale fleets in particular, the slow expansion of charging infrastructure to satisfy EV demand is a major headache for fleet managers worldwide.
Ensuring that drivers and fleet managers have adequate training to operate and maintain electric vehicles equipped with AI technologies can also be a challenge. To achieve their maximum potential, these technologies necessitate specialized knowledge, but they also offer the promise of enhanced efficiency.
The Bottom Line
Electric vehicles are gaining popularity among business fleet managers who are concerned about environmental impact and operational expenses. Meanwhile, artificial intelligence is helping to streamline fleet operations by enhancing predictive maintenance, optimizing routes, and reducing energy consumption.
Theoretically and practically, merging the two might alter commercial transportation. An AI that is cognizant of the company’s overall logistics plan and can process data from inside and outside the vehicle can take informed decision-making to a whole new level.
So, there will still be people behind the wheel, but they will most likely have helpful passengers along for the ride, and they won’t be the obnoxious kind who look at a map and tut-tut.
