World markets are rapidly shifting to electric trucks due to declining fuel supplies, stringent regulations on pollution and global warming issues and the desire to lower carbon footprints.
Truck manufacturers are working towards increasing charger availability and improving electricity grids to convince their customers to switch over to electric vehicles, yet there remain significant obstacles before this vision of electric trucks becomes reality.
What to Expect in 2024
Trucking industry is ready for a transition towards electric vehicles (EVs). These EVs emit no tailpipe emissions, cutting greenhouse gases responsible for climate change. In addition, EVs offer greater fuel-efficiency and lower operating costs compared to their fossil-fueled counterparts.
The COVID-19 pandemic may have affected market performance and production capacity, yet also encouraged companies to invest in cutting-edge technologies – creating an optimistic outlook for our industry’s future.
Major truck manufacturers are currently focused on creating electric trucks with longer range. To develop this technology, they are working closely with battery makers. Lithium iron phosphate (LFP) batteries are their preferred raw material in their vehicles’ batteries; China’s CATL currently leads in terms of production capacities; other producers are also increasing capacity in order to meet growing demands for them.
Cost
Due to advancements in battery technology and their decreasing costs, the global electric truck market is experiencing rapid expansion. Original Equipment Manufacturers are developing these vehicles on a large scale as they offer financial incentives for people interested in purchasing them.
Electric trucks require less maintenance than their diesel counterparts, making them an attractive option for logistics and delivery services. Furthermore, the rise of e-commerce is fueling their growth as an industry.
Additionally, governments of developed and developing regions are incentivizing people to adopt electric trucks by offering tax benefits and creating sustainable charging infrastructure, which has also contributed to the steady expansion of the global electric truck market over its forecast period.
Availability
As automotive manufacturers rapidly electrify their portfolios, trucks are an area they’ve focused on as part of this transformation. Their large platforms provide ample room for high-powered electric motors and batteries to power them.
Rivian has already unveiled their electric truck, Rivan R1T. This can accelerate to 60 mph in under 3 seconds and tow 10,000 pounds. It uses off-the-shelf 21700 cells similar to those used by Tesla; Telo remains open to using newer cylindrical batteries as they become available.
Ram has also entered the electric truck arena with their 2024 Ram 1500 REV model, boasting an estimated 500-mile range and impressive performance specs. Meanwhile, Tesla Cybertruck promises to make headlines upon its debut.
Performance
According to NACFE, more and more medium and heavy trucks can now be electrified, according to vehicle telematics technology used by fleets. Telematics allows fleet managers to analyze driving patterns and existing infrastructure and determine whether electrifying diesel and gasoline vehicles could make sense for them.
Not only are new electric truck models equipped with superior range, they also boast advanced driver assistance technologies like lane departure warning and autonomous emergency braking that enhance safety and reduce accidents caused by human error. These features help promote greater driver efficiency.
Ford, BYD and Rivian are among the premier electric truck brands. Each offers an extensive selection of models with impressive performance and sleek designs; some models even have towing capacity up to heavy loads. Fleets electrifying their trucking operations should take advantage of off-peak charging rates during off-peak hours to reduce both capital and operating costs.
Regulation
Fleet operators and manufacturers expressed concern that a proposal to convert large trucks to electric models within two decades could require them to invest in costly charging infrastructure or make significant grid upgrades. Some fleets suggested that this requirement should be phased in gradually starting with delivery trucks that are easy to electrify starting in 2024, and mature OEMs may take longer than more nimble startups in innovating products to market.
NACFE developed a framework to assist fleets in assessing whether and when medium and heavy-duty electric trucks should be deployed in their regions, including Northern California, Southern California, Texas Triangle region (including Seattle-Portland-Vancouver Canada region Cascadia region), Colorado Front Range region. This criteria-driven assessment can assist fleets in making decisions regarding electrification in these regions.