Addressing the Elephant in the Room: Are Your Electrification Targets Realistic?
The latest headlines signal that the electric vehicle market is tapping the brakes, with the road ahead becoming increasingly uncertain. How will this trend impact your company’s ability to hit its zero-emission targets?
The odds are strong that you will need to convince senior management to adjust their timeline and expectations. But how do you present your case persuasively? Here are six points to consider.
1. Present data-driven insights. Share recent developments in the EV market, including the slowdown in growth, production cuts by key manufacturers and shifts toward plug-in hybrids (for more, check out “Fleet Electrification Plans Face Reality Check Amid EV Slowdown”). Highlight how these trends could impact the company’s ability to achieve its sustainability targets.
2. Propose adjusting the timeline. Frame your proposal as a risk mitigation strategy to protect the organization against potential disruption, stranded assets and budget issues if mandates outpace EV technology readiness and availability.
3. Relate your proposal to overall corporate values. Connect the rationale for change to wider company goals around continuity of operations, customer service, safety, cost management and so forth.
4. Recommend realistic adjustments. Rather than an open-ended delay, propose new targets that are realistic yet still ambitious given the market landscape.
5. Propose plug-in hybrids as part of a near-term solution. The PHEV market currently offers a wider range of models than the fully electric vehicle market, including options that may better suit specific operational needs or preferences.
6. Communicate regular updates. Commit to providing regular updates on the EV market, technology developments, regulatory changes, and the results of any pilot programs or initial EV deployments. This keeps senior management informed and engaged in the decision-making process.
The bottom line: If your company’s zero-emission deadlines are in jeopardy, get senior management involved as early as possible so they can set realistic expectations with their stakeholders. Leadership may not like the news, but they’ll appreciate your foresight – and the heads-up.
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