EV big rigs already make sense for half of the $4 trillion freight truck market, says Einride CEO

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Freight trucking is a $4 trillion industry. The CEO of Swedish EV startup Einride says going electric over diesel is already cost-effective for half the market.

The numbers on the EV cost equation, though, remain less than an exact science. A month ago, when appearing on CNBC to discuss the new deal with PepsiCo, Falk estimated that 30%-40% of the market could make the EV transition based on cost today. Not much has changed for the better in the math in just a month. In fact,, and haven't been this low since before Russia invaded Ukraine, taking away a short-term advantage for the EV argument.

"In the near-term, of course, the business case for diesel becomes slightly better," Falck said in the April interview. Part of the challenge is in the recharging, In September, the Department of Transportation approved EV-charging station plans for all 50 states, Washington, D.C., and Puerto Rico, covering about 75,000 miles of highways. States also have access to more than $1.5 billion in funds to help construct the chargers.

In freight, unlike the consumer market, "it's not about range, it's about how to secure the business case," he said.Swedish electric vehicle maker Einride will supply two of its heavy-duty trucks to PepsiCo as part of an expansion into the U.K.found that the total cost of buying and operating an electric semi-truck could be anywhere from $765,000 to $1.1 million, while a gas or diesel truck ranges from $919,000 to $1.2 million.

 

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