A study conducted by EO Charging and Vanson Bourne found 43% of fleets say that electrification has reduced total cost of ownership.
Participating organisations had fleets made up 53% of electric vehicles (EVs) on average.
84% of fleets surveyed had at least partially introduced a net-zero transportation initiative.
The primary driver for these initiatives, cited by 54% of fleets, was long-term financial benefits or cost savings.
88% of UK commercial vehicle fleets surveyed said that fluctuations in energy prices are making it harder to make a financial case for fleet electrification.
Additionally, 80% of UK respondents said that global tensions are raising the risk of sourcing components such as EV batteries.
EO Charging and Vanson Bourne surveyed 315 fleets, including 106 in the UK and 209 in the US, all of which operated at least 100 vehicles.
Fleets were split across cars, vans, trucks, buses and specialist vehicles.
81% of respondents said that policy fluctuations are undermining their ability to form long-term electrification strategies.
54% of fleets said they are not planning beyond the current Government in their home market.
Richard Staveley, CEO at EO Charging, said: “This research clearly highlights that commercial fleet electrification has now evolved from what was once primarily a legislative led initiative to meet environmental targets to a mainstream business strategy.
“Driven by seeing tangible cost efficiencies, organisations across multiple industries have long moved beyond small trials and pilot schemes to embrace electrification as a transformational business benefit.
“Fleet electrification has reached a pivotal inflection point, as businesses seek further clarity at a governmental level to plan for the long-term and maximise the benefits they’ve seen from initial EV adoption.
“In the UK, the Government’s Industrial Strategy marks positive steps in this direction with clearer mandates around policy timelines and decarbonisation targets.
“However, to scale with confidence businesses should make sure they are engaged with industry bodies, work closely with manufacturing and energy partners, and frequently review Government guidance.
“Working in a collaborative manner will help ensure fleets are best poised to scale efficiently and realise the full promise of electrification.”
