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Dear Members and Friends
In the context of still very high COE prices, here’s a piece with a sustainability message by Chamber member EVCo which will resonate with many of you. Drive safely!
Best regards
Victor Mills
Chief Executive
Navigating the Road to a
Sustainable Future
Recent high
costs and an uncertain economic
outlook have put businesses in a
conundrum: how can a business
prioritize sustainability when
the bottom line is under
pressure? With the certificate
of entitlement (COE) premiums at
a record high, is this the right
time for businesses to convert
to electric vehicles (EVs)?
The
answer may be surprising –
transitioning to EVs now not
only aligns with environmental
stewardship, but also makes
sound financial sense. Here’s
why:
-
Cost Savings:
Energy and maintenance expenses
for EVs are substantially lower
than their traditional
counterparts. Subsidies such as
Commercial Vehicle Emissions
Scheme (CVES) and Early Turnover
Scheme (ETS) further sweeten the
deal. In the current high COE
environment, switching from
owning to leasing immediately
unlocks capital investment
savings.
-
Efficiency:
Digital tools such as fleet
management systems increase the
efficiency of EV fleets.
Businesses can also right-size
their fleets with the use of AI
and data analytics.
-
Future-proofing:
By embracing sustainability,
businesses mitigate exposure to
future regulatory changes and
price volatility in fossil
fuels.
-
Reputation:
Adoption
of EVs enhances a company's
reputation, attracting
environmentally-conscious
customers and top talent.
Decarbonizing mobility amidst
economic uncertainties is not
just a choice; it's a strategic
imperative. By prioritizing
sustainability, businesses not
only protect their bottom line
but also set themselves on a
path towards a more ethical and
resilient future.
Click here to learn more.
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