The total cost of ownership of electric trucks is declining and in some instances may already be cheaper than gas or diesel options, but federal policies and incentives are still required to encourage a “wholesale shift,” public policy think tank Third Way said in a June 28 memo.
The trucking industry is wary that electric versions are “not cheap enough,” Third Way concluded. If additional upfront costs can be recouped within five years, companies that buy trucks will make the switch more quickly, the group said.