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The Business Case for Electric Trucks: A Win-Win for Companies and the Planet

The importance of greener or more eco-friendly solutions in commercial fleets has resulted in an exciting yet unexpected turn – electric trucks. According to experts at Ree Auto, these mighty trucks have geared up to redefine how people travel on rugged terrains and roads.

Why Use Electric Trucks and Why Now?

Although electric trucks are still new in the market, vehicles powered by batteries were one of the first powertrains that people used many years ago and never went away. Instead, they have undergone a great transformation to be what they are now.

And the way things are, it seems they will soon step back in the spotlight and start making their business case as one of the viable options for most fleets in the 21st century.

Electric trucks basically don’t have the capability range which natural gas, diesel, or gasoline trucks do. Currently, they can’t be charged quickly like gasoline or diesel trucks are filled up.

However, electric trucks are different from diesel vehicles. Soon enough, electric trucks will show their mettle, which will make them a better option for companies.

The Way Trucking Sector Is Improving

The potential advantages of fleet electrification are making leading OEMs (original equipment manufacturers) and vehicle producers channel their financial investment in the creation of reliable and strong alternatives to traditional ICE. This financial commitment isn’t a reflection of an ethical stance.

To illustrate this, a certain report approximates that the market for these electric trucks will surely increase by 12 times between 2024 and 2030. It is expected to increase from $620 million to over $7.2 billion. This approximated growth in the market is clear enough that companies have started using electric trucks.

Subscription of Electric Trucks

Cost is one of the major reasons trucking companies are shifting to eco-friendly operations. Apart from being an alternative to fossil fuel, trucking companies are concerned about the expense of the number of electric fleets.

Because of that, some truck manufacturers, like Mack Trucks, have stepped up to solve this issue by providing customers with pay-as-you-go mileage programs and monthly subscriptions on mid-size electric trucks.

Building Business Case for Electric Trucks

The business case for commercial trucking companies to move to electric operations is becoming the norm as the technologies minimize the costs and businesses look for a more viable solution to environmental and urbanization challenges. Although there are still some barriers, commercial fleet operations globally are determining their needs so as to know how electrification fits into the strategies.

Moving to electric trucks drives business value in various ways. According to a new study by GreenBiz and UPS, more than 80% of fleet operators report environmental benefits, and about 62% say that fleet electrification lowers ownership costs.

So, it makes more sense to adopt electric trucks to minimize environmental effects for reasons that go beyond well-being. This will result in the following:

  • Minimized risks from future regulation
  • Lowered fueling/maintenance costs

Because the transportation industry contributes heavily to the emission of greenhouse gases, electric trucks are an important strategy to avoid the negative effects of climate change. Investing in electric trucks is also important for maintaining domestic supply chains and international competitiveness.

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