The electrification of trucks is one of the most intensely discussed topics in the transport industry. Whilst a lot of the conversation is around the technical feasibility of electric trucks, another aspect has been out of the focus - which is the impact of traditional trucking cost on inflation and prices. The problem is that diesel fuel and maintenance cost for diesel trucks accounted for nearly 40% of marginal operating costs per mile in 2022 in the US.
In other words, fuel is the biggest single cost driver for the trucking operators - and it`s only going one way, which is up!
In contrast, electric trucks are two to five times as efficient as diesel trucks, reducing total energy consumption. Additionally, electricity prices are dramatically less expensive: depending on charging behaviour and vehicle use, fuelling with electricity rather than diesel can slash fuel costs by 40% to 60%.
We at Hyperion already work with some key players in truck electrification in Europe, like bp pulse. If you want to learn more about this sector and the opportunities it provides, please get in touch.