Fleet Advantage expands into alternative fuels, bolsters EV portfolio

Fleet Advantage expands into alternative fuels, bolsters EV portfolio

Fleet Advantage notes that it has a portfolio of over 19,000 vehicles under asset management.

Fleet Advantage, a provider of Class 8 fleet data analytics, equipment financing, and life cycle cost management, announced significant achievements for its fiscal year ending June 30, with notable emphasis on continued growth resulting in over $1 billion in Lease Originations driven by continued innovation and despite a persistent difficult economic climate, according to the recent press release.

Transitioning to alternate fuels

According to its recent press release, Fleet Advantage continues to expand into alternate fuel options including electric and hydrogen, with various vehicle and trailer types now being used by its corporate transportation fleet clients. The company provides the necessary resources to help customers adopt alternate fuel technologies in addition to grants, including sourcing and critical infrastructure needs. As one example, the company notes that it helped a Top-100 fleet adopt hydrogen fuel cell technology.

In addition to placing a large order of EVs, Fleet Advantage notes that it has a portfolio of more than 19,000 vehicles under asset management. The company has identified a considerably greater volume of EV equipment that will complement its customers’ supply chains including EV Class 8 day cabs, yard tractors and trailers. Fleet Advantage is also now providing other types of equipment through its lease programs, such as cargo and transit vans.  

Furthermore, the company has continued to elevate its TCO technology stack, recently unveiling its new analytic tool – EVAN – to help further identify and optimize TCO and the efficacy of utilizing electric vehicles, according to the recent press release. The company provides the necessary data and analytics resources to help clients understand the costs associated with transitioning to alternate fuel, and to make the process easier, the press release notes.  

Financial flexibility and business agility

Fleet Advantage continues to utilize data analytics and fleet modernization studies to help inject more flexibility into its clients’ operations, while helping them pay closer attention to their truck’s Life Cycles to understand where they can save money by optimizing and shortening replacement cycles.  

This has resulted in a significant increase in customer satisfaction levels. Flexibility-forward programs such as the company’s EXchangeIT have been instrumental in helping fleets and organizations instill confidence in adopting newer equipment and alternate fuel options, the company notes .

The company leveraged its EXtendIT option during the truck and parts shortages to allow extensions of leases. The need for greater flexibility and operating cash position has proven to have significant impact to a firm’s ability to grow in the current climate.   

Expanding the team

Fleet Advantage promoted Brian Holland to its new chief executive officer this year, and under Holland’s leadership the company has enjoyed a highly engaged and empowered senior leadership team that has made tremendous progress coming together as an organization and evolving the company culture. The accomplishments of the company’s team continue to be recognized for tremendous growth with 17 awards and accolades secured over the last 12 months. 

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