Fleet electrification represents a significant economic and climate opportunity for Europe, according to the EY and Eurelectric report: Fleet Forward: powering the transition to electric mobility.
The report shows that the transition of Europe’s fleets could generate cumulative operational cost savings of up to €246 billion by 2030. The report also estimates that full fleet electrification could reduce CO₂ emissions by up to one billion tonnes by 2030.
The operational cost benefits are already visible in key fleet segments. The report finds that electric cars and light commercial vehicles can deliver significant operational cost savings per kilometre compared to their internal combustion engine equivalents, particularly in situations where charging at depots or at home is prevalent. Electric trucks can also achieve lower operating costs on certain routes, where charging strategies and CO₂-based toll systems are aligned.
However, the report makes it clear that operating cost advantages alone will not drive the expansion of electrification. The total operating cost remains influenced by higher initial vehicle prices, uncertainty about residual value, uneven incentive structures and delays in grid connection and installation of charging infrastructure.
“The EY–Eurelectric report confirms what we see in practice: fleet electrification makes economic sense at the operational cost level, but scale-up remains limited by structural gaps across the ecosystem. Romania’s grant programs, such as E-Mobility and E-Move, which support charging infrastructure, together with the broader national framework for e-mobility, are important enablers. However, they require greater predictability and closer alignment with the real operational needs of fleets. EY is working with fleet operators, energy companies and policymakers to fill these gaps – from total cost of ownership (TCO) modeling and charging strategies, to network readiness and financing structures – so that fleet electrification can move from pilot projects to large-scale implementation,” said Mihai Drăghici, Partner, Consulting, EY Romania.
According to the report, coordinated actions are needed across the ecosystem. Fleet operators need to match vehicle fleets to actual operating cycles and maximize smart charging at depots, which the report identifies as key factors in reducing energy costs and improving operating margins. Vehicle manufacturers need to reduce upfront cost gaps, improve battery transparency, and build confidence in residual value through buyback programs and standardizing information. Policymakers need to ensure stable fiscal and regulatory predictability over a multi-year period. Grid operators and energy suppliers need to accelerate connection timelines and invest upfront in capacity to support electrified depots and charging corridors. Financing institutions and leasing providers need to expand service-bundled and risk-sharing models that reduce balance sheet exposure.
Kristian Ruby, Secretary General of Eurelectric, said: “In the European Union, six out of ten new cars are sold to fleet owners, so the potential for savings and emissions reductions is enormous. A well-designed fleet initiative can boost demand for battery electric vehicles, to the benefit of European industry and energy independence.”
The report highlights that progress is real and the economic case is becoming stronger, but fully harnessing fleet electrification depends on practical coordination between industry, energy and policy actors.