With a background in computational biology, Rueben Scriven joined Interact Analysis two years ago and leads the warehouse automation and on-highway commercial vehicle research areas. Rueben has spoken at some of the leading industry events and moderated several panel discussions on the topic of commercial vehicle electrification. He’s also appeared on CNBC to provide insight on the global electric bus market.
Passenger electric vehicles attract much of the limelight; however, it’s likely that the commercial vehicle market will transition to electrification at a faster rate. This is because the decision to purchase an electric passenger vehicle is based on a myriad of factors including desirability, environmental consciousness, social influence and the up front cost. Commercial fleets, on the other hand, base their procurement decisions almost entirely on total cost of ownership which, in many cases, is in favour of electric trucks. Consequently, several of the world’s largest fleets are transitioning towards electrification at lightening speeds. This infographic highlights some of the latest and largest electric truck orders.
The Infographic is also available to download in PDF here
The above analysis is taken from a new Interact Analysis report – “Hybrid & Electric Trucks and Buses – 2019”. The hybrid & electric truck and bus market is extremely dynamic and dependent upon factors including legislation, battery prices and the relative prices of electricity and diesel. The rate at which any given segment will grow is dependent on the interaction between these determining factors. This report breaks down the contributing growth factors and provides a credible market forecast based on the interacting variables derived from more than 40 hours of interviews.