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Electric Vehicle Total Cost of Ownership Model


With increasing customer demand for zero-emission vehicles, our client, a multi-national OEM, needed to better understand the operational and financial impacts of fleet electrification in order to effectively collaborate with its customers and dealer networks to drive sales of electric trucks.


  • Based on stakeholder feedback, it was determined that an easy-to-use model for comparing the operational and financial differences between diesel and electric fleets would significantly improve communication and collaboration between the client and its customers.
  • To develop the model, the team first defined impactful parameters analyzed necessary variables (e.g., fleet size, duty cycle), and identified feasible scenarios (e.g., max route length per truck, payload).
  • With the critical model criteria defined, the team collaborated with client leadership and subject matter experts to develop a flexible, easy-to-use model that could be shared with customers to support their decision-making in transitioning to electric fleets.


  • The results of our model illustrated that, in certain use cases, electric trucks are at cost parity with their diesel counterparts today.
  • The model is integral to the client’s customer engagement strategy, allowing the client to incorporate customer-specific inputs into its business cases and to present tailored output for financial and operational parameters.
  • Our client also uses the model internally to evaluate and communicate key financial and operational parameters pertaining to its electromobility strategy.
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Contributing Authors

Buck Hagood Director

May we suggest:

Top Considerations for Leaders When Electrifying Utility Fleets

As owners and operators of vehicle fleets as well as providers of electricity, utilities have a unique opportunity to take advantage of fleet electrification. Through their own electrification efforts, utilities can serve as industry leaders providing an example for others to follow. In addition, by drawing on the experience and lessons learned from electrifying their own fleets, utilities can effectively advise their customers and serve as a partner in their electrification efforts.

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