The Future of EV Fleets

Today, the adoption of electric fleets continues an upward trajectory across multiple sectors, including public transportation, ride-hailing services, delivery companies, and corporate fleets. Driving this growth are advancements in electric vehicle technology, the decreasing costs of batteries, and the growing awareness of environmental issues. We all know at least some of the benefits of transitioning to EV fleets, e.g., EVs produce zero emissions and save businesses money on fuel costs. But how did we get here?

A bit of history of electric fleets

For many, the birth of electric vehicles is relatively new. However, they have been around for more than 140 years. In 1881, the first vehicle with an electric motor (a tricycle) was introduced in Paris, France. By 1900, there were more electric automobiles in the U.S. than models using internal combustion engines! 

Five years later, the Elektrische Viktoria was unveiled in Berlin, Germany. This combination of hotel taxi, minibus, and delivery van reached a top speed of 30 km/h, and its range was 60 – 80 km, depending on the battery size.

Over the next several decades, EVs virtually disappeared. However, in the 1970s, a resurgence occurred. In 1970, a fully electric city bus was trialed in Koblenz, Germany. The battery in the bus was housed in the trailer and lasted two to three hours. In the first year, the emission-free electric bus covered approximately 6,000 km, without any significant issues. And, in 1972, two electric buses were included in the fleet of vehicles transporting athletes during the Munich Olympics.

In the early 2020s, we are witnessing an escalation in electric bus advancements and adoption. The fully electric bus developed by MAN launched, Amazon received delivery of its first custom-built EV delivery van, and Volvo began production of its VNR Electric truck in Dublin, Virginia.

Not long after, in March 2023, Volvo delivered its first heavy-duty electric truck to Morocco—the first battery-electric truck from a global manufacturer to be put into commercial operation on the continent.

Looking to the future

After a period of slow but steady growth, EVs are gaining momentum in both passenger vehicle and fleet production. The International Energy Agency estimated that 1.2 million electric vehicles were in fleet applications worldwide in 2022 and estimated that, by 2025, 5.7 million electric vehicles will be in fleet applications. And Bloomberg New Energy Finance Ltd. forecasts that, by 2040, 57 percent of all passenger vehicles and 30 percent of fleets will be fully electric.

Fleet News shares that research by Churchill Expert, Direct Line Group in 2022, found that only 16 percent of fleets are currently hybrid and less than one-fifth are fully electric vehicles. However, that’s expected to change over the next year or two with the proportion of EV adoption projected to increase to 37 percent and hybrid to 20 percent.

This is good news, not simply because it’s good for the planet. McKinsey addresses why EV fleets make compelling economic sense. As soon as 2025, EVs will outperform their internal-combustion-engine counterparts across all vehicle classes (based on total cost of ownership). In addition, legislation such as the Inflation Reduction Act provides tax and subsidy incentives. As an added benefit, consumers are increasingly willing to reward companies focusing on setting and achieving sustainability goals, including fleet decarbonization. 

EVs: a great solution for your fleets

EVs can fulfill daily driving needs, making them a great solution for fleets. They offer many benefits and can fill roles in light-duty, medium/heavy-duty (MD/HD), and even off-road applications. EV benefits include:

• Fuel efficiency: The cost to operate a light-duty all-electric vehicle averages about three cents per mile, according to the U.S. General Services Administration. And EVs achieve their best fuel economy while making frequent stops—conditions typical of many fleet operations.
• Performance that matches or surpasses their counterparts: They are much quieter, produce maximum torque, and offer a smooth acceleration—useful when hauling heavy loads.
• Less maintenance: Compared to conventional ICE vehicles, EVs require less routine upkeep.
• Charging options: Can fuel at fleet facilities or public stations with the option at facilities to charge overnight or during downtime.
• Environmental impact: EVs can help organizations meet environmental objectives with the side benefits of improving their public image and differentiating themselves from the competition.

The technology of electric fleet vehicles is quickly advancing, including EV battery technology. The key to battery performance is pack design optimization. Batteries are evolving to have increased energy density. This increase, however, is accompanied by greater heat output during battery charge and discharge cycles. Improvements must match improvements in energy density in the battery pack assembly. Thermal management materials such as encapsulants, adhesives, and gap fillers play a role.

Meeting your fleet design and performance goals

Thermal management is one way OEMs are managing heat in their EV designs. These materials help EVs go longer, charge faster, and have higher reliability by managing heat in critical electronic components. We offer a variety of electric fleet solutions that enable our customers to meet their design and performance goals.

CoolTherm® potting and encapsulants, which are used to insulate and protect electronic components, facilitate optimum heat transfer because of their high thermal conductivity and low viscosity. They also protect electronics from dust and moisture, reduce vibration and — because they exhibit low shrinkage upon curing — reduce component stress. 

Thermally conductive gap fillers are used to fill in surface imperfections between heat-generating components and heatsinks/cooling plates, thereby facilitating heat transfer. CoolTherm gap fillers are designed with electric vehicle applications in mind. They are a liquid-dispensed, cured-in-place solution, easing the stresses caused by thermal differences and flex. 

Thermally conductive structural adhesives not only provide mechanical rigidity but also dissipate heat. Moreover, they improve design flexibility by eliminating the constraints imposed by mechanical fasteners and by bonding a wide variety of substrates. Such flexibility enables manufacturers to further lighten a vehicle’s weight.

Strong, cost-effective dielectric coatings provide insulating barriers around electric truck batteries and motors. Dielectric protection is critical in the assembly of high-voltage battery packs. Our LORD® JMC-700K thermally conductive dielectric coating is used to coat magnets, heat sinks, and cooling plates in EVs. Single-component dielectric coating named Sipiol UV cures in seconds with UV light and is ideal for all applications mentioned above but including battery cells where you can’t use high temperatures to cure the coating.

Low-density foams offer low viscosity and are two-component encapsulant systems. These materials are ideal in applications requiring thermal and electrical insulation while adding minimal weight. We currently offer foams in silicone and urethane chemistries, specifically formulated for the electric vehicle market.

Innovative e-truck designs can be achieved by using assembly and protection materials contributing to an overall lighter weight and high-performing electric fleet vehicle.

Conclusion

Overall, the outlook for the future of EV fleets is very positive. While the EV market continues to grow, we can expect to see continued growth of EV adoption for businesses’ fleets. This will help to accelerate the transition to a cleaner and more sustainable transportation future.

As electric fleet platforms ramp up, so do our customer's expectations of an ideal supplier. You expect high performance and consistent quality from your suppliers, and this is where we thrive. If you would like to learn more about electrification and thermal management solutions for your EV fleet design, please reach out to our team today.