Whether we're looking at Volvo, Kenworth, or Tesla, electric semi-trucks have arrived. They just haven't quite gone mainstream yet. And although they may not be gaining momentum as quickly as electric passenger vehicles, stable operational costs and government incentives are making electric trucks an increasingly lucrative investment.
With the Biden administration announcing plans to subsidize the installation of 500,000 new electric vehicle charging stations, now seems like as good a time as any to evaluate if your trucking operation is in a position to add electric vehicles to your lineup.
Let's go over the pros and cons of electric trucks, as they exist today, to help you determine if becoming an early adopter will pay off.
The Caveat
How about we start by taking the environmental factor out of the equation?
I think we should do this because while concern about your carbon footprint is a perfectly valid reason to go electric, the debate around how much electric vehicles really benefit—or, more accurately, mitigate harm to—the environment is complicated, probably too complicated to address in the span of this post.
The Pros
Now that we've escorted the elephant out of the room, let's talk economics: The operational costs of electric vehicles are less volatile than their gas or diesel competition. This may become the primary advantage of electric vehicles in the long term. In other words, fuel prices fluctuate more than charging costs. The U.S. Department of Energy points out that this is largely due to the fact that most U.S. electricity is produced domestically, while we import petroleum from about 90 different foreign countries in addition to domestic sourcing.
Another boon electric truck buyers enjoy is the price reductions offered by certain government policies. Incentive programs like California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project can save truck buyers tens of thousands of dollars when they purchase low-carbon or zero-emission vehicles. And with a new administration in 2021, EV incentive programs are likely to increase in both quantity and value.
Lastly, electric vehicles tend to offer the latest technology. At a time when ELDs and wireless diagnostics are standard, carriers and owner-operators can save themselves a potential headache by opting for modern vehicles, designed with a web of poking, prodding, and tracking electronics in mind.
The Cons
Now let's take a look at the downsides of making the switch to electric. While this is less of an issue for short-haul truckers, there's no getting around the limited range of electric trucks; most electric trucks can travel between 150 and 300 miles on a full charge, with a few reaching the 500 mark. A lack of infrastructure makes this flaw more glaring, but this is becoming less of a concern as more charging stations are installed across the nation.
Speaking of charging, long charge times may be the Achilles' heel of electric trucking. Even if a multitude of new charging stations can help carriers adjust for the limited range of electric trucks, taking an hour or more to reach a full charge means drivers must plan routes carefully and maybe even pass on some freight. Sure, Tesla's Semi boasts a 30-minute charge time, but without the company's Megachargers, this time goes up substantially.
And finally, we come to the dilemma: Should you choose fuel cells or battery-electric? It's difficult to know if you're making the right choice between the two at this time. Headlines conflict. “Could Hydrogen Fuel Cells Revive, Threaten Battery Technology In Cars?” or should we talk about “Why Hydrogen Will Never Be The Future Of Electric Cars”?
Pick hydrogen trucks, and you may find out that fuel pumps are few and far between. Go with battery-electric, and the long charge times could lose you business. Until a clear winner is declared (or else they come to a decisive draw), it's difficult to know whether you're investing in the right electric vehicle. But that doesn't necessarily mean the reward isn't worth the risk
By going over what you could gain and lose by investing in electric trucks, I hope this post has helped you decide if electric vehicles are something your trucking operation could benefit from, either at this time or after the technology has progressed. And if you're interested in an alternative to the conventional trucking business model, take a look at how Relaymile is reimagining trucking to provide drivers with a healthier, more consistent standard of work.
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