Electric trucks are likely to dominate the market in a decade, according to a new study by consulting firm PwC. As early as 2030, e-trucks would be about 30 percent cheaper than diesel trucks in terms of overall costs, industry experts wrote in the study which was published. By then, they said, one in three new trucks in Europe, North America, and China will be electric. "By 2035, their share of new registrations in these markets will increase to more than 70 percent."
However, 36 billion euros would have to be invested by then in Europe alone to create a network of charging stations and hydrogen filling stations. To have enough green power for the e-trucks, up to 21,000 additional wind turbines would also be needed, the PwC Strategy& study says.
"The transformation is picking up tremendous speed at the moment," said co-author Jörn Neuhausen. Driving the change, he said, are regulatory requirements and the growing cost advantages for e-trucks. In Europe, they are expected to pay only half as much road tolls from May 2023. "Logistics companies can thus save up to 25,000 euros per truck per year." On the other hand, truck manufacturers have to pay increasingly higher fines if they exceed the ever-stricter CO2 limits.
Although trucks with batteries cost twice as much as those with a diesel engine and will remain significantly more expensive in the future, they will pay off in terms of overall costs as early as 2025, according to PwC. E-trucks with fuel cells will become competitive as of 2030, the study says. Rising CO2 taxes, jumps in diesel prices, lower maintenance costs, and falling battery costs would give them boosts. And in view of the war in Ukraine, many governments are currently realigning their energy policies and 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, he said. A resilient network with 1,800 megawatt charging stations and 2,100 hydrogen filling stations, would require an investment of 36 billion euros.
At megawatt charging stations, battery-powered trucks can charge enough electricity in 30 minutes to last for 400 kilometers. A single highway charging park with 6 megawatt charging stations and 34 overnight charging points costs 8.5 million euros, according to the PwC study.
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