An electric work vehicle a pump configured to supply hydraulic fluid to a component of the electric work vehicle. Moreover, the electric work vehicle includes a sensor configured to capture data indicative of a pressure of the hydraulic fluid and a controller communicatively coupled to the sensor. As such, the controller is configured to monitor the pressure of the hydraulic fluid relative to a predetermined threshold pressure value based on the data captured the sensor. In addition, the controller is configured to control the operation of the pump such that the pump is switched from a first operating speed range to a second operating speed range when the monitored pressure of the hydraulic fluid falls below the predetermined threshold pressure value.