electric truck according to a study by the management consultancy PwC dominate the market in a decade. As early as 2030, electric trucks will be around 30 percent cheaper than diesel trucks in terms of overall costs, according to industry experts in a study published on Tuesday. Then every third new truck in Europe, North America and China drive electrically. “By 2035, their share in new registrations in these markets will increase to over 70 percent.”
For a nationwide network of charging stations and hydrogenBy then, however, 36 billion euros would have to be invested in filling stations in Europe alone. In order to have enough green electricity for the e-trucks, up to 21,000 additional wind turbines are needed, the study goes on to say.
Up to 25,000 euros less costs per truck per year
“The transformation is currently gaining momentum,” said co-author Jörn Neuhausen. Drivers of the change are the legal requirements and the growing cost advantages for e-trucks. In Europe, they are expected to pay only half as much toll from May 2023. “Logistics companies can save up to 25,000 euros per truck and year.” On the other hand, truck manufacturers have to pay increasingly higher penalties for exceeding the ever stricter CO2 limits.
Although trucks with batteries cost twice as much as a diesel and will remain significantly more expensive in the future, according to PwC they will pay for themselves in terms of total costs from 2025. E-trucks with fuel cells will become competitive from 2030. Rising CO2 taxes, price jumps for diesel, lower maintenance costs and falling battery costs would give tailwind. And given that Ukraine-war, many governments are currently realigning their energy policies and thereby reducing their dependence on fossil fuels.
But the political requirements “also make progress in charging concepts necessary,” warned Christian Foltz, co-author of the study. The rapid development of public charging infrastructure in Europe is an essential prerequisite. For a resilient network with 1800 megawatt charging stations and 2100 hydrogen filling stations, 36 billion euros would have to be estimated.
Race between fuel cell and battery
At megawatt charging stations, battery-powered trucks can charge enough electricity for 400 kilometers in 30 minutes. According to PwC, a motorway charging park with six megawatt charging stations and 34 overnight charging points will cost 8.5 million euros.
According to PwC, the proportion of electric trucks that generate their electricity from hydrogen fuel cells is likely to increase to around 15 percent of new registrations in Europe and China in 2035. They use more energy, but can be refueled faster, have a longer range and are also not as heavy as battery trucks. If politicians develop a comprehensive hydrogen economy as planned, the fuel cell “now has the chance to become an integral part of a holistic hydrogen value chain,” said Neuhausen.
The transformation will demand a lot from the truck industry, but at the same time offer huge growth opportunities, consultant Foltz continued: “Whether subscription models for charging parks, price guarantees for electricity or insurance and recycling solutions for batteries: In the future, new ones will appear at many points in the life cycle of an electric truck Business areas are emerging that can be of interest to both established and new market participants.”