The rise of the electric vehicle went pretty faster than many anticipated. Frequent arrival of new models and a rapid increase in charging docks are clear signs of that. Many of us don’t know that the freight industry is a few steps ahead in embracing the new technology than other automobile sectors.
Only two metrics of electric vehicles are the driving forces of this innovation: a cleaner environment and financial viability. Maintaining a truck fleet is quite expensive and tedious. Electric trucks not only save money but also they are less arduous to maintain.
Electric vehicles are strongly on their way to reshape the trucking industry. However, there is always room to improve. EVs and the trucking industry can transcend even further together with a few tweaks.
How is EV Reframing the Truck Industry?
Electric vehicles are the next evolution in the automobile industry. But it’s catching up faster to the trucking industry than personal cars. On paper, we can see that electric freight vehicles are increasing rapidly.
In 2019, the number of available models of electric trucks across the USA and Canada was only 95, which is expected to grow more than double in 2023. The demand and matching of the supply of electric trucks are evident. Giant companies like Mercedes Benz and Scania are stepping up to make new models of electric freight vehicles.
But what’s driving the widespread adoption of electric vehicles? Everyone has heard of Tesla, the leading manufacturer of electric vehicles. Automobile Companies like Toyota, Honda, BMW, etc., are also making zero-emission cars.
As the trucking industry is going faster than personal vehicles, you might wonder what’s up. There are two main reasons: clean emissions and financial viability.
Air pollution is a major concern in the 21st century. Temperature is rising, arctic ice is melting, and sea level is increasing. By 2050, the sea level is expected to rise by five to nine inches, drastically affecting major coastal cities. The only way to prevent this catastrophe is to reduce carbon emissions. And to achieve that, switching to electric vehicles is the first step of many.
Many companies have complied with respective governments’ regulations to reduce carbon emissions. Some companies also have their own agenda to make this world greener and safer for future generations. That’s why we are seeing a major change in the trucking industry.
But why in the freight industry by specific? Why is this change less common in personal vehicles? Well, that’s where the second reason comes in; money. No matter how environmentally-friendly electric vehicles are, no one would use them if it wasn’t for economic viability.
Electric trucks are revolutionizing the freight industry in three aspects; low fuel expense, low maintenance cost and overall low cost. Let’s discuss them briefly:
- Low Fuel Cost: Electric vehicles spend less on fuel than internal combustion engine vehicles. A study in 2020 claims that electric vehicle owners spend 60% less on fuel than traditional vehicles. You don’t need to go through the report to realize that it’s true. You just need to glance at how fast electric trucks are replacing traditional trucks, and that should be enough.
- Low Maintenance Cost: Maintenance is an irreplaceable part of any vehicle, and it is expensive. In electric trucks, you won’t have to worry about oil filters, engine sludge, cleaning fuel injectors and filters, ignition coils, spark plugs, air filters, timing belts, mufflers etc. All of these take a good chunk of money out of the owner’s pocket. Of course, it isn’t the case for EV owners.
A three-year-long study by We Predict shows that EV owners spend 31% less on maintenance for electric cars and light trucks.
- Low Overall Cost: When you combine the two factors above, you can easily understand that the overall cost of an electric truck fleet is significantly lower than traditional trucks. That’s why the truck industry is swiftly cruising towards adopting electric vehicles.
How to Drive the Demand for EVs in the Trucking Industry?
Electric trucks have already taken over the market faster than personal vehicles. But there are quite a few hurdles in the path of going green. The trucking industry can thrive if these hurdles can be recognized and cleaned up. Here is how to drive the demand for EVs in the trucking industry:
- Lowering Battery Costs
Batteries are one of the most expensive components of electric vehicles. In a recent incident, an owner discovered with horror that after eight years, the cost of the battery is more than the current price of his hybrid Mercedes Benz. It shows how costly electric vehicle batteries can be. Lowering the battery price can boost the demand for EVs.
- Building more Charging Stations
Electric vehicle stock in America is supposed to surge to 26 million by 2030 in the United States. To support the huge amount of EVs, charging stations need to multiply twelvefold, from 216,000 to 2.4 million. The scarcity of charging stations is one of the main obstacles to owning electric vehicles.
- Making Awareness
Electric vehicles are more environmentally friendly and less costly. The latter information is enough to drive people towards electric vehicles. The trucking industry has already realized it; that’s why it’s clinging to electric vehicles as fast as it could. Spreading awareness can increase the number by a significant margin.
- Tax Rebating
Tax is a big issue in buying anything. And tax rebating is a highly effective way to influence people into buying something. If the government takes this brave step to reduce taxation of electric trucks, vehicles and their parts, the freight industry is guaranteed to flourish more than it already is.
Electric vehicles are not the next big thing; they have already become the talk of the town. The way it is transforming the freight sector only shows us how fast EV is evolving and how far it has yet to go. We all can anticipate a greener future, thanks to the upswing of electric automobiles.