Electric buses and trucks will be more profitable by 2027, report says
By 2027, according to a study by the Roush Industries for Environmental Defense Fund, electric freight trucks and buses will be cheaper to buy and operate than their combustion engine counterparts.
Researchers assessed the initial and ongoing costs of electrifying several types of medium and heavy vehicles commonly used in urban areas. This included delivery trucks, garbage trucks, school buses, shuttles and transit buses.
Comparing initial purchase prices alone, freight trucks and electric buses will be cheaper in all categories except shuttles. In this case, the vehicles will be close to price parity.
Electric vehicles will also have a lower cost of ownership across all categories.
Researchers determined the total cost of ownership for vehicle purchase costs, fuel or energy costs, charging or refueling infrastructure costs, maintenance costs and mid-life refresh of the vehicle, if applicable. They did not include the health and welfare benefits associated with switching to electric trucks.
Costs will decrease, the researchers say, due to lower battery prices and because maintenance and energy costs will be lower.
Less than 10% of vehicles on US roads are freight trucks and buses, yet they are responsible for nearly 25% of climate pollution from the transportation sector.