Electric vehicles have been on the road for well over a decade now and there are only more on the way. Technology has now reached a point where the truck transportation industry is looking at a huge increase of electric trucks across the country.

Electricity is becoming the replacement for gasoline, even skipping over natural gas and hydrogen power as the go-to source for green energy under the hood. In terms of efficiency, three-quarters of the electricity used in an electric vehicle is converted into pure power. Only one-quarter of the electricity is lost in conversion, which is a great increase from other fuels.

The future looks very bright for electric vehicles of all kinds, and the companies that get on board early will reap the most benefits.

Expectations for electric trucks in the coming years

The future of electric truck fleets is coming quickly. A survey of fleet managers across the country confirms that 90% believe that the industry will inevitably go all-electric. Over time, the cost of upgrading fleets will become lower. At some point, fleet managers will have no good reason not to replace inoperable trucks with electric ones.

Another sign of the growing electric truck movement is the size of the market itself. As of 2019, a total of 95 companies offered electric truck models worldwide. Expectations from the clean-transportation nonprofit Calstart bring that number up to nearly 200 by 2023. The number of manufacturers of electric trucks will only grow over time, creating more competition and driving down costs.

All signs point to electric trucks becoming a staple of major transportation companies in the coming years. Smaller companies will also be able to afford the trucks in the future, creating savings and efficiency for all-size companies.

Two major factors driving electric truck adoption

There are two main factors that are helping electric trucks take on in the transportation industry. When it comes to upgrading fleets to all-electric, environmentalism and financial savings are the biggest incentives for businesses.

Environmental factors

More and more companies are looking to “go green” in every way they can. The cost of electricity is consistently lower than other fuel sources. Businesses of all kinds are changing to electric for their vehicles, HVAC systems, and more.

Green initiatives are often seen as a positive in the eyes of consumers who want to support companies that reduce their carbon footprint. Many cities and states are beginning to impose stricter restrictions on carbon output, making it essential for some businesses to convert to electric trucks.

Financial factors

Companies are always looking for ways to save money, and an all-electric fleet of trucks offers a lot of financial savings. Electric vehicles run on an energy source that is much less expensive than diesel gas. They are also much easier to maintain, with most parts lasting longer due to the lack of gas and oil involved in the operation of the vehicle. Electric trucks also don’t require oil changes, engine cleaning, fuel injector cleanings, fuel filters, and other parts and services that add costs over time.

Currently, the cost of electric trucks is higher than purchasing diesel trucks, but over time the prices will come down. In the long run, a fleet of electric trucks will be much more affordable than maintaining a fleet of diesel transportation trucks.

Metrics to look out for in the electric truck market

There are a few metrics that will be important to monitor as time goes on to see how valuable electric trucks can be for a company’s fleet. When it comes to the overall cost of operating at this point, all signs point to electric truck having a lower per-mile energy cost compared to typical transportation trucks. According to ARC, a digital transformation advisory firm, this is true in the United States, Europe, and China, three of the biggest markets in the world for truck transportation.

Another metric that will play a major factor is charging stations. Government programs are beginning to address the number of charging stations available on major roadways. According to Statista, There are currently over 46,000 charging stations and over 113,000 charging outlets available throughout the US. According to AutoEvolution, the government plans to have 500,000 more charging stations installed nationwide by 2030.

Battery life is another factor that is important to watch for when it comes to electric trucks. Electric vehicles continue to get improved batteries with each new model, and the same is expected among electric trucks. The best EVs on the road today can get up to 400 or more miles per charge. Depending on the route, this may be plenty of power for a truck driver to find a charging station to refuel.

Electric rates will also be part of every fleet manager’s considerations in the near future. Most public electric charging stations will charge for their use. Peak hours and off-peak hours can influence the costs, too. Much like monitoring gas prices around the country, managers will need to monitor charging fees when their fleet goes all-electric.

Fitzgerald is at the forefront of vehicle production

Fitzgerald Manufacturing Partners has worked hard to provide clients with the automotive parts production and assembly services they need. Electric truck production will require the latest technologies and innovative development techniques, and Fitzgerald is ready for the task. From parts development to additive manufacturing to assembly and delivery, our team has the tools and talents to handle it all.

For businesses looking to develop electric truck fleets or logistics companies looking to obtain custom replacement parts, Fitzgerald is your go-to source. Contact us today to learn how we can help.