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The latest research from Cox Automotive published today – Future of Fleets: Path to EV Adoption – shows that among other things that, compared to vehicles powered by internal-combustion engines (ICE), fleet owners operating both electric vehicles (EVs) and their traditional, fuel-burning counterparts have higher levels of satisfaction with their EVs. This despite higher acquisition costs as well as more frequent service and maintenance. Conducted in Q1 2024, the survey collected data from fleet decision-makers in various regions and across differing fleet sizes. “Data show that 14% of fleets presently operate EVs, with a significant trend toward EV adoption expected in the next five years,” Cox said.
“The electric-vehicle story is much larger than just the retail story,” said Zo Rahim, senior analyst of Research and Market Intelligence at Cox Automotive. “In many ways, electric vehicles can be an ideal solution for many fleet operations, which often have set routes of known distances, vehicles that routinely overnight in the same location, and operations that prioritize the cost of ownership. The fleet business is significant in the U.S. market, and we expect the EV share of the fleet market to expand in the coming years.” Continue reading →
Bosch Buys HVAC businesses from Johnson Controls, Hitachi
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Bosch, a supplier of technology and services, is making what it terms as “a strategic acquisition’ for its Energy and Building Technology business sector. The Bosch Group plans to take over the global HVAC business for residential and light commercial buildings from Johnson Controls (NYSE: JCI).
“As the biggest acquisition in Bosch history, this is an important milestone in the systematic implementation of our strategy for 2030,” said Stefan Hartung, chairman of the board of management of Robert Bosch GmbH. “We are dynamically pushing ahead with the strong development of Bosch, and will achieve a globally leading position in the promising HVAC market with this acquisition. In taking this step, moreover, we will strengthen our presence in the U.S. and Asia and achieve a better balance among our business sectors,” said Hartung. Continue reading →