It seems like almost every day there is something in the news about electric vehicle developments. Sure, a lot of it centers on electric cars, but there is also a great deal going on in the electric truck space, too.
Today, many of the traditional truck makers have ventured into the electric truck space supplementing their diesel-powered vehicle offerings with battery powered ones. While no one is yet in full production, meaningful strides have been made in the development of these cleaner vehicles. Nipping at the heels of the traditional truck builders are a host of new companies—Tesla, Nikola, Lion Electric, BYD, Rivian, Kalmar, Lightning, Lonestar, Motiv, Orange EV, etc.
While not all have Class 8 tractor offerings, they all have trucks or terminal tractors that are currently in place at fleets across the country. Ask yourself this: when was the last time we had someone new come into the industry wanting to build trucks? I think this interest in trucking from outsiders—and the infusion of cash—is a good thing for the industry.
The other thing that is occurring in the EV space is that there is a lot of cooperation between various participants in terms of charging infrastructure developments—one of the biggest impediments to widespread EV deployment. People are working together to try to come up with ways to speed up the development of the needed charging infrastructure without which EV development will stall.
EV’s are going to be a part of trucking in the very near future. If we look back in time, you can see that the technologies that are developed for passenger cars are quickly adapted by the commercial vehicle manufacturers.
Seeing the increased interest in EVs in the medium- and heavy-duty truck market, I have come to realize that EVs are going to be here sooner rather than later. I am not naïve enough to think that we will see a huge surge of EV deployments in just a few years, but I am guessing we will see them follow the more normal hockey stick development—just as we do with all new technology.
However, I think we are at the point where there are enough fleets trying out EVs in various applications that if you have not at least started figuring out how they will fit into your fleet’s future, you will be one of the laggard fleets that misses the benefits of a new technology and ends up having to play catch up.
Now is a good time to talk with your local utility, your current truck OE, one or more of the new start up OEs and your finance source to try to better understand how to successfully—and profitably—add some EVs to your existing operation. That way, when the time comes to make large scale purchases, you’ll have some experience behind you and will make the right decision for your fleet.
EVs are no different than any other trucking technology in that one size will not fit all. Now is the time to start determining which size is right for you.
Patrick Gaskins, SVP of Corcentric Fleet Solutions, oversees both sales and operations for the company's fleet offerings. Gaskins joined the company in 2010, bringing more than 30 years of experience as a financial services professional in the transportation industry. He leads a team that works with a supply base of more than 160 manufacturers to help the country’s largest fleets manage all aspects of their fleet operations and fleet-related spend.
