FORT LAUDERDALE (April 25, 2023) – Fleet Advantage, a leading innovator in Class-8 fleet data analytics, equipment financing, and life cycle cost management (LCCM) announced today it will unveil a revolutionary new analytic tool at the upcoming National Private Truck Council (NPTC) Annual Conference (May 7-9 in Orlando, booth #923) offering breakthrough technology designed to help define the future of transportation for corporate fleets.
Today’s organizations know sustainability is at the forefront of their operational strategies, but a significant industry challenge revolves around answering the question of HOW to efficiently progress toward a carbon-free future in a viable way. Data analytics continue to have a positive impact for businesses and society at large and Fleet Advantage’s new EV Life Cycle Cost Analysis Tool EVAN (Electric Vehicle Analytic Navigator) will help further identify and optimize Total Cost of Ownership (TCO) for corporate transportation fleets to determine the efficacy of utilizing electric vehicles.
“Fleet Advantage is well known throughout the transportation and equipment finance industries as leading with innovation and developing pioneering analytics that help organizations maximize their sustainability in operations, while also delivering the lowest total cost of operations,” said Katerina Jones, CMO of Fleet Advantage.
Fleet Advantage’s new EV Life Cycle Cost Analysis Tool is especially timely as the Environmental Protection Agency (EPA) recently proposed a new and stronger set of greenhouse gas standards for heavy-duty vehicles for model years 2027 through 2032, building from the “Phase 2” greenhouse gas standards established in 2016. This latest proposal comes on the heels of a NOx emissions rule finalized in December, along with a California waiver mandating sale of electric trucks. The proposed Phase 3 rulemaking applies to heavy-duty vocational vehicles, such as delivery trucks and refuse haulers, along with tractors, such as day cabs and sleeper cabs.
Fleet Advantage is helping companies build their custom ESG roadmaps supported by our strategic asset management and EVAN plays a crucial role in bridging today’s clean-diesel technology into tomorrow’s alternate fuel options. However, every company has a unique “bridge” to cross, and therefore it’s essential to rely on data-driven insights to make accurate apples-to-apples comparisons for sound decision making.
As part of Fleet Advantage’s comprehensive Fleet Modernization Study, the never-before-seen-analytic tool compares diesel versus an electric class 8 vehicle TCO, with modeling that evaluates fuel and mileage data versus kWh comparisons from the first year through a six-year life cycle.
EVAN takes into consideration various inputs including equipment cost, charging, cost of energy, cost of diesel, grants, tires, depreciation, etc., and converts them into a cost-per-mile (CPM) to determine the total cost of operating an electric vehicle over its lifetime, allowing fleets to make an informed decision about which type of vehicle is more cost-effective for their fleet.
The timing of the new EV-focused analytic tool also coincides with Earth Day (April 22), and Air Quality Awareness Week (May 1-5). Across the globe, companies both large and small have continued to place a significant focus on identifying strategies that help reduce greenhouse gas emissions, with a focus on embracing and improving everyday lives today for a greener tomorrow.
“This year’s Earth Day and Air Quality Awareness Week recognitions provide an important opportunity to acknowledge how corporate actions can help to build a better climate future for all people,” said John Rickette, CTP, CLFP, Vice President of Portfolio and Manager of the Transaction Management Team for Fleet Advantage. “We also recognize that a responsible environment is shaped through sustainability efforts made each day, and we are proud to know our TCO Technology Stack helps fleets make a significant contribution toward the reduction of emissions.”
About Fleet Advantage
Fleet Advantage is the largest independent lessor for heavy-duty Class-8 trucks and has over $2.4 Billion assets under its Life Cycle Cost Management (LCCM) program and more than 50 customers which includes America’s top corporate fleets, including five (5) of the top 10 private fleets in the country. Fleet Advantage guarantees the absolute lowest cost of operation by providing fleet asset management, financing solutions, and fleet analytics, using the latest equipment technology to achieve optimum vehicle productivity and maximum safety. Our model of TCO, clean diesel, and safety-enhanced trucks with shorter life cycles complement our customers’ ESG goals. The accomplishments of Fleet Advantage and our leadership team continue to be recognized for tremendous growth and industry leadership with numerous awards, including Top Private Independent and Most Innovative Firm by the Monitor Daily, Top Software & Tech Awards, Top Women Associates in Finance, and Green Supply Chain Awards to name a few. The company has also been named to Inc. magazine’s 500|5000 list of fastest growing companies in the nation.