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Battery electric vehicle orders at Alphabet up by more than 50%

Battery electric vehicle orders at Alphabet up by more than 50%

  • 18.03.2025 10:35
  • fleetnews.co.uk
  • Keywords: dangerous, success

Alphabet saw a 50%+ increase in battery electric vehicle (BEV) orders in 2024, alongside a 23% rise in new business. Its vehicle portfolio grew to over 760,000 units, with electrified vehicles now making up 35%. Fleet electrification remains a key focus for the company's transition to alternative drive trains.

Alphabet ServicesGOOGLsentiment_satisfied

Estimated market influence

Alphabet

Alphabet

Positivesentiment_satisfied
Analyst rating: Buy

Alphabet has seen a significant increase in BEV orders and new business, indicating strong growth.

BMW Group Financial Services

Positivesentiment_satisfied
Analyst rating: N/A

The BMW Group's fleet management contributes to Alphabet's success and they have expressed appreciation for Alphabet's performance.

Context

Analysis of Alphabet's Battery Electric Vehicle Performance in 2024

Overview

  • Alphabet reported a significant increase in battery electric vehicle (BEV) orders, exceeding 50% growth in 2024.

Key Statistics and Facts

  • BEV Orders: Increased by more than 50%.
  • New Business Growth: Expanded by 23%.
  • Vehicle Portfolio: Grew to over 760,000 units, a 6% increase.
  • Electrified Vehicles Share: Constituted 35% of Alphabet's total portfolio.
  • Q1 2024 Performance: Over 44% of new business contracts were for hybrid or fully electric vehicles.

Market Trends and Industry Implications

  • Fleet Electrification: Drives the transition to alternative drive trains, reflecting a strategic shift by companies towards greener fleets.
  • Global Expansion: Alphabet expanded its international footprint by integrating Slovenia and the Baltic states into its OneNet network, reaching 38 markets.

Competitive Dynamics

  • BMW Group Partnership: Alphabet manages BMW's fleet, enhancing vehicle utilization and remarketing efforts.
  • CEO Perspective: Jesper Lyndberg highlighted sustained demand for electrified vehicles, with every fourth vehicle delivered being a BEV.

Strategic Considerations

  • Customer-Centric Innovation: Emphasized by Sven Straub of BMW Group Financial Services, focusing on meaningful services and responsible growth.
  • Goal Achievement: Alphabet is on track to exceed yearly targets under Lyndberg's leadership.

Long-Term Effects and Regulatory Impact

  • Sustainability Focus: Indicates a long-term strategic shift towards electrification and sustainable mobility solutions.
  • Regulatory Landscape: No specific regulatory impacts mentioned, but industry trends suggest potential future policy influences.