Stay connected
Subscribe to our Inside WEX blog and follow us on social media for the insider view on everything WEX, from payments innovation to what it means to be a WEXer.
Inside WEX
Survey: how Italy is navigating the transition to commercial mixed-energy fleets
We can expect more mixed-energy fleets on the roads as they’re projected to increase over the next few years. A recent study by Frost & Sullivan, commissioned by WEX, indicates a significant rise in mixed-energy fleets as commercial EV adoption accelerates. In fact, according to the survey, 80% of fleet operators who already have a mix of internal combustion engine (ICE) and electric vehicles (EVs) plan to have at least 25% of their fleet be electric by 2030. Nearly 50% anticipate that EVs will make up half or more of their fleet by then.
The shift is driven by a growing emphasis on sustainability. As Carlos Carriedo, Chief Operating Officer, Americas Payments & Mobility at WEX said: “Decarbonization has become a top priority for organizations of all sizes and transitioning towards mixed-energy fleets is one effective way to achieve that. Fleet managers aren’t debating if they should go electric, they’re figuring out the best way to integrate EVs and internal combustion engine (ICE) vehicles.”
The benefits of incorporating EVs into commercial fleets are clear – but the transition takes time. EV adoption can align with environmental goals, meet public and policy demands for zero-emission transportation, and appeal to eco-conscious customers. However, the path to electrification isn’t without its challenges. High upfront costs, infrastructure concerns, and varying adoption rates across companies and governments all play a role.
To better understand the commercial EV adoption landscape, the researchers surveyed over 500 commercial mixed-energy fleet operators (ranging in size from 2 to 500+, with at least 1 EV in the inventory) across Europe, North America, and Asia-Pacific. You can read more about what’s happening in Italy further below.
The findings highlight several key trends driving the shift to mixed-energy fleets:
- Decarbonization is the key driver of the transition: 70% of respondents say it is an “important” or “cornerstone” component of their business strategy, and only 3% are not considering decarbonization at all. This underscores its importance to organizations’ strategies for cost savings, sustainability, and brand image.
- Operational efficiency is paramount during the transition: Despite electrification challenges like high upfront costs (64%), 50% of surveyed organizations have already invested in charging infrastructure.
- Streamlining charging and payments is crucial: Most organizations (78%) have on-site charging, but charging en route and at home are also common. The ability to use the same payment options for both ICE and EVs is a top priority.
- Smart digital solutions could help future-proof fleets: Over half of the respondents (58%) struggle with route planning, while 49% struggle to collect data and 40% face challenges integrating fleet management software for ICE vehicles and EVs.
The takeaway? The transition to mixed-energy fleets is well underway. While challenges to adopting EVs remain, the benefits are clear and organizations are actively seeking solutions to streamline the process.
Specific insights for Italy
Here’s a look at how surveyed organizations in Italy (65) reported navigating the transition to mixed-energy fleets.
- It’s a three-way tie! Cost savings, brand image and reputation, and keeping up with the growing demand for sustainable products are all equally driving Italian organizations to decarbonize (an 88% for each factor).
- 86% of Italian fleets have set a firm date to hit their decarbonization targets. That’s the highest of any country surveyed and well above the global average of 59%.
- Optimizing routes for mixed-energy fleets is causing headaches for 60% of Italian fleet operators. Finding the right mix of gas stations and charging points along their routes is a real challenge.
- Italy takes on depot charging, with 86% of organizations having their own onsite charging stations. They like having control over when and how their vehicles charge, plus it helps them run things more efficiently.
- When it comes to payments, Italian fleet operators are most concerned about fraud. 69% of them said it’s their top priority, significantly more than any other country.
Read the press release announcing the report’s launch.
Dig into insights from other markets:
For the latest news from WEX, visit the Newsroom. For investor relations, go here.