Loading ...Transitioning Fleet Trucks To Electric Raises Costs By Up To 114 Percent, Report Warns
Transitioning conventional truck fleets to electric vehicles (EVs) pushes up annual operational costs, which subsequently increases economic inflation, according to a recent report from transportation and logistics firm Ryder.
Florida-based Ryder analyzed the potential cost of transportation if internal combustion engine trucks are converted to EVs. There is a 5 percent cost increase for light-duty EVs and a 94–114 percent increase for heavy-duty trucks, the May 8 report states. For a fleet of 25 mixed vehicles—light-, medium-, and heavy-duty trucks—costs surge by 56–67 percent.
As transportation costs have a direct bearing on the price of goods sold in markets across the country, Ryder estimates such increases to eventually add about 0.5–1 percent to overall price inflation in the economy.
“There are specific applications where EV adoption makes sense today, but the use cases are still limited. Yet we’re facing regulations aimed at accelerating broader EV adoption when the technology and infrastructure are still developing,”