Influential Voices in Fleet with Kenneth Jack

The debate over the costs and complexities associated with crashes involving electric vehicles (EVs) versus traditional vehicles is ongoing. With the rise of EVs, understanding the financial implications of repairs and replacements after an accident has become crucial for both consumers and fleet managers.

This week during SHzoom’s “Influential Voices in Fleet”, we have Kenneth Jack. Jack holds an MBA from Columbia Business School and a BS in Mechanical Engineering from Polytechnic School of Engineering at NYU. With about thirty years of experience in fleet management, he is the founder and CEO of KenetIQ, which specializes in fleet electrification and optimization.

Previously, Kenneth Jack served as a board member of NAFA for three years and as Vice President of Fleet Operations at Verizon for nearly twelve years. Jack has also received the AFLA Fleet Executive of the Year award and holds multiple certifications in maintenance management and engineering. In this article, he shares his opinions on the topic of repairing and replacing parts for EVs after an accident.

As sustainability comes to the forefront of corporate responsibility, fleets are advancing towards EVs and leaving traditional vehicles behind thanks to the various benefits that EVs have to offer. According to the U.S. Department of Energy, “In addition to federal, state, or local incentives that can lower their purchase price, EVs offer high fuel economy, which translates to lower operating costs. […] Electricity prices are also less volatile than those of gasoline/diesel, making it easier to predict fuel costs over time.”

Additionally, Forbes Magazine makes the argument that fleets can benefit from switching to EVs more than individuals can. People looking to buy EVs for personal use consider the situation where they are traveling in the car to a remote destination that would not have a charging station, and thus purchase cars with larger batteries than they would need on a daily basis. This decision can increase the cost of their vehicle greatly. According to Matt Stevens, a Former Forbes Councils Member, “While you can still get a positive payback in some of these cases, the payback is generally much better if you can avoid this premium. And for fleet vehicles with consistent daily distances, you can.”

While EVs offer numerous benefits, their repair costs can be significantly higher compared to traditional vehicles. One of the primary reasons for this is the sophisticated technology and specialized components used in EVs. Kenneth Jack states: “[… The batteries are] very expensive and they are definitely probably the single most expensive component in the vehicle.”

Replacing the battery pack in an EV can be one of the most expensive repairs, often costing thousands of dollars depending on the specific make and model. According to the U.S. News & World Report: “[…] even with the drop in costs for EV battery packs, the cost to replace a battery pack could range from around $7,000 to nearly $30,000.” Despite this information, Jack remarks: “Is it the most expensive thing that you are likely to replace in an accident? I’m going to say no.”

Check out our interview with Ken here!

Stay tuned to delve deeper into the evolving landscape of EV repairs and uncover the hidden costs. Don’t miss out on these valuable discussions that can empower your decisions on fleet management and EV adoption. Kenneth Jack will be sharing his expertise and insights over the next week on SHzoom’s LinkedIn page. Follow SHzoom on LinkedIn to stay updated with the latest posts and insights from industry leaders like him. Get ready for more engaging and informative content heading your way!

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