Targa Telematics develops a solution to cope with increasing fuel prices

Targa Telematics, the tech company based in Italy specialising in the development of digital solutions in the telematics field, has released Targa Lite, a solution designed to help fleet managers to identify and reduce waste in corporate fleets respecting privacy, and to efficiently manage refueling, one of the major expense items in fleet management.

Targa Telematics has been committed to develop ad hoc solutions to facilitate the implementation of the ecological transition plan, with particular reference to the use of electric cars. In recent times, the geopolitical situation has created a need to find solutions to deal with the rise in fuel prices: new gas prices are estimated to affect at least 20% of the cost of a fleet, with the same number of gallons and miles driven.

One of the innovations presented by Targa Lite is an algorithm that analyses whether or not the mileage traveled by a Plug-in Hybrid Electric Vehicle (PHEV) is powered by the electric engine. As a result of Targa Telematics’ data, it was found that 80% of the monitored PHEVs only use the electric mode 30% of the time. Thanks to this new feature, fleet managers can promote the use of the electric mode by attributing PHEVs to drivers with suitable trips for this type of vehicle. In addition, if necessary, corrective measures may be adopted not only to encourage electric mode use, but also to pay attention to recharges: the greater the number of recharges, the lower the fuel costs and CO2 emissions.

Based on Targa Telematics’ analysis, it is estimated that if a PHEV car was driven in electric mode 42% of the time, its CO2 emissions and fuel costs would decrease by 33% and 37% respectively, compared to a vehicle powered by a diesel engine.

“Car related costs are high and represent an important part of the financial management of a company. For this reason, fleet managers are required to mitigate the various issues associated, for example, with the purchase, sale or rental of vehicles and their logistical management. On top of this, they also need to prevent costs arising from maintenance, tolls, insurance claims and fuel, on which Targa Lite pays particular attention thanks to the new functionalities introduced”, says Alberto Falcione, Vice President Sales of Targa Telematics.

Moreover, through telematics, Targa Lite enables to highlight costs that are usually unaccounted for and the waste related to fleet utilisation. The algorithm allows the automation of operations that would otherwise be done manually, such as refueling reconciliation, discrepancy identification and refueling monitoring, average consumption and fuel card usage. It is also possible to quantify mileage for non-work purposes, defining ad hoc company policies so that drivers can use company vehicles privately at a fixed rate. Implementing Targa Lite can lead to a reduction in operating costs up to 20%.