Fleet Electrification: Assessing Your Vehicles with Total Cost of Ownership


Trio’s Electric Vehicle (EV) Total Cost of Ownership (TCO) analysis can help you save time and money in fleet electrification planning by providing you with comprehensive analysis for light-, medium-, and heavy-duty fleet options. Our TCO analysis uses your current fleet data to build an optimized pathway for EV deployment while maximizing TCO savings and carbon emission avoidance.

To build an optimized pathway to achieve your electrification goals, our evaluation incorporates critical factors to compare the cost of a new EV to its internal combustion engine (ICE) counterpart such as:

  • Energy cost
  • Fuel costs
  • Miles driven
  • Maintenance and repair costs
  • Driving conditions
  • Available EV/ICE (internal combustion engine) models
  • Incentives available
  • Company-specific priorities


How It Works

Step 1: Fleet Profile 

You will provide data of your current fleet to start the TCO analysis.

Data points include:

  • Vehicle make and model
  • Vehicle type
  • Parking site
  • Current ownership structure
  • Average daily miles
  • Dwell time
  • Average operational hours

After gathering this information through our comprehensive Preliminary Data Request Form, we will help visualize your fleet with an overall profile.

Step 2: Prioritization

Our team’s primary goal is to help you choose how to electrify your fleet. There are several pathways toward electrification, all dependent on what is most important to your company goals and priorities. Some primary considerations include:

  • Location
  • Cost savings
  • Carbon reductions
  • Federal/state/utility incentives
  • Community impact and environmental justice
  • Available vehicle technology
  • Daily driving distance

Ranking these priorities will help us tailor our analysis and the recommended roadmap to fit your immediate and long-term goals.

Step 3: Analysis

After setting your priorities, we look for the best pathway for fleet electrification. We start by looking at each vehicle individually and compare them against EVs currently on the market that can satisfy the operational needs of your fleet. Those with a good EV match are graded based on the parameters set in Step 2. For example, if cost savings is the priority decided in step 2, we would recommend EVs that can maximize TCO savings. Similarly, if carbon reduction is a main priority, then we would recommend EVs with the highest potential to reduce emissions in your fleet. If there are multiple priorities, we would rank them in terms of their importance and make a recommendation comprising all the selected urgencies.

Step 4: Results

After a thorough EV suitability and feasibility analysis, you will have access to our recommendations through an interactive dashboard. This includes:

  • Percentage of fleet vehicles that can be replaced by EVs now
  • TCO
  • Emissions savings
  • Necessary charging infrastructure

You will also have access to the EV deployment results with each individual EV replacement option and its associated cost. A final roadmap will show how many vehicles you should replace with EVs each year.

For more information, check out our Transportation Electrification Blog Series.