American Electric Power (AEP) says it will accelerate its electric vehicle (EV) purchases with the goal of replacing 100% of its 2,300 cars and light-duty trucks with EV alternatives by 2030.
AEP’s total fleet is composed of nearly 8,000 vehicles, including medium- and heavy-duty vehicles. By converting medium- and heavy-duty vehicles as electric or hybrid models become available, AEP will achieve its goal of electrifying 40% of its entire on-road vehicle fleet in less than 10 years.
“AEP has made great progress in reducing the carbon dioxide output of our power generation fleet, cutting emissions by 65% since 2000 and setting a goal to be net-zero by 2050,” says Nicholas K. Akins, chairman, president and CEO of AEP. “Through our commitment to transitioning to EVs, we will cut tailpipe emissions, reduce operating costs and encourage other companies that rely on large vehicle fleets to switch to battery or hybrid vehicles.”
AEP estimates that it will avoid using more than 10 million gallons of fuel – amounting to a $40 million savings in fuel costs – over the life of the vehicles. AEP is also working with customers and communities to share the benefits of electric transportation and support EV adoption. The company has created programs, such as incentives for charging station installations, off-peak charging programs, energy efficiency rebates and consultative services to encourage electrification.
Transitioning light-duty vehicles to EVs has been part of AEP’s fleet strategy and will now become the standard across its subsidiaries. AEP will begin to transition medium- and heavy-duty vehicles – as well as off-road equipment – as electric and hybrid alternatives become available. In addition, AEP will electrify 50% of its forklifts by 2030.
AEP’s fleet currently consists of 85 EVs. Employees are able to utilize more than 230 charging ports installed at locations throughout its 11-state service territory.
To learn more about AEP’s sustainability plan, click here.