The shift towards electric trucks: A TCO perspective

The landscape of commercial transportation is undergoing a significant transformation. With the rise of electric trucks, the total cost of ownership (TCO) has become a focal point for fleet operators and logistics companies. Recent analyses indicate that the TCO for electric trucks has improved, already surpassing that of conventional diesel trucks.

Understanding Total Cost of Ownership (TCO)

When evaluating the TCO for different truck types, several factors come into play:

• Purchase price: Initial investment costs.
• Fuel costs: Ongoing expenses related to energy consumption.
• Maintenance costs: Regular upkeep and repairs.
• Depreciation: Asset value over time.
• Incentives and tax benefits: Financial advantages offered for electric vehicle adoption.

Key findings:

A recent study of P3 highlighted the following points:

• Electric trucks exhibit lower fuel costs due to reduced energy prices compared to diesel.
• Maintenance costs are significantly lower for electric vehicles because they have fewer moving parts.
• Government incentives are increasingly available for adopting eMobility solutions.

These factors collectively contribute to a favorable TCO for electric trucks, making them an attractive option for fleet operators.

The analysis of P3 compares the Total Cost of Ownership (TCO) per kilometer for diesel and battery-electric heavy-duty trucks (HDT) in two scenarios: regional-haul and long-haul. In the regional-haul scenario, covering 60,000 km annually with 100% depot charging, the TCO for diesel HDTs is 1.25 EUR/km, while for battery-electric HDTs it is slightly lower at 1.20 EUR/km, reflecting a 4% reduction. Key cost components include vehicle leasing, consumption, charging infrastructure, service & maintenance, and tolls, taxes, and insurance. Battery-electric HDTs have higher infrastructure and leasing costs but lower consumption and maintenance costs compared to diesel HDTs.

In the long-haul scenario, covering 100,000 km annually with a 50:50 split between depot and highway charging, the TCO for diesel HDTs is 1.21 EUR/km, while for battery-electric HDTs it is 1.08 EUR/km, showing an 11% reduction. Similar cost components are analyzed, with battery-electric HDTs again incurring higher costs for leasing and infrastructure but benefiting from lower consumption, service, and maintenance expenses. 

Source: P3

Overall, the evaluation highlights the cost efficiency of battery-electric HDTs over diesel HDTs, particularly in long-haul applications.

Acceleration of truck charging infrastructure

To achieve a sustainable and economically viable transition to electric heavy-duty trucks, it is imperative to develop, roll out, and accelerate the deployment of scalable and robust charging infrastructure.

Trucks, especially heavy-duty ones, require specific charging solutions that can deliver high power levels quickly and efficiently, necessitating advanced systems like the Megawatt Charging System (MCS). These tailored solutions ensure that large commercial vehicles can be recharged rapidly, minimizing downtime and maximizing operational efficiency.

All stakeholders must now collaborate to ensure the rapid development of charging solutions and construction of these charging facilities, addressing both depot and highway charging requirements.

Leveraging EcoG Universal Core

To accelerate the development of these truck charging solutions, leveraging innovative technologies like EcoG Universal Core can significantly help charging station manufacturers and site operators:

• Time-to-Market acceleration: By providing reference architectures and an eco-system of components needed in MCS charging solutions, EcoG Universal Core cuts development times into half.
• Cost effectivenes: By utilizing pre-integrated reference architectures and a properly tested OS for charging stations, charger manufacturers can direct their R&D spendings to differentation.
• Risk mitigation: Building on the experience from development of more than 45 charger product series, EcoG provides an unmatched development approach for EV chargers which takes out uncertainty and risk during the development process while ensuring robust interoperability between chargers and trucks.

CharIN speaker and MCS expert

EcoG plays a pivotal role in shaping future standards through its involvement with CharIN, where it serves as a core member and speaker. EcoG is a driving force behind the MCS standard and led the working group within CharIN to industrialize MCS.

What’s next?

The transition towards electric trucking is not merely a trend; it represents a fundamental shift in how goods will be transported in the future.

Stakeholders must prioritize the rapid scaling of charging infrastructure invest in interoperable CCS and MCS technology that caters specifically to the needs of heavy-duty vehicles.
Charging technology can pave the way for sustainable eMobility that benefit both operators and the environment.

If you are interested in learning how we support charging station manufacturers, charge point operators, truck depot operators or fleet operators in this transformative phase, contact us.

About EcoG

EcoG is a global IP and tech company working on the rapid expansion of sustainable charging infrastructure for electric vehicles. With its charge controllers, reference designs and software, it enables companies to get products & services to market quickly and scale profitably.

EcoG is already the market leader in Europe with more than 15% market share and a strong footprint in the Indian and North American markets. Overall, EcoG grew four times faster than the market last year. Industrial giants such as Siemens or one of the world’s largest service station equipment suppliers are among its customers. The company continues to grow in 2024 and as a next step invests 14,4M$ in its North American HQ in the USA.