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Press Release
Press Release
The HDV sector is failing to electrify at anything close to the pace required LONDON/NEW YORK, May 2 - The...
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Key Quotes
Ben Scott, head of automotive and report author, said: “The lack of short-term targets reduces the likelihood of long-term goals being met and increases the risk of a disorderly transition to electrification.”
Report author Ben Scott, said: “The transition to electric trucks offers manufacturers a ‘re-fleeting’ opportunity and a huge potential upside in revenues. In the near-term, short and medium-haul logistics represents the easiest prospect for electrification and for HDV manufacturers to capitalise on, as fleet-operator cost benefits are realised.
Assessing Truckmakers’ commitment and effective transition to electric vehicles
Recently ratified Heavy Duty Vehicles (HDV) emissions regulations in the EU and US will force manufacturers to bring more electric HDVs to market by 2030. ‘Heavy Lifting Required’ details the overarching narrative related to Truckmakers’ climate goal alignment and transition to e-mobility. Carbon Tracker’s analysis covers 8 major HDV manufacturers:
- European (4): Volvo Group, Daimler Truck, Traton Group, Iveco
- US (1): Paccar
- Asia (3): Hino, Tata Motors, BYD
Individual company profiles of the HDV Manufacturers assessed can be found here, providing more detail on each.
The decarbonisation of the HDV sector will have profound effects on truck manufacturers and investor portfolios. Once electric HDV operational savings are realised, there could be huge demand from truck fleet operators who could effectively replace their existing fleet with battery electric alternatives. Truckmakers’ need to effectively transition to electric vehicle products to take advantage of this future electric truck demand, which means having credible emissions reduction targets working in tandem with an effective electrification strategy. The report assesses the size of the challenge facing the industry and is relevant to Asset Managers, Buy/Sell side analysts, Banks, Policy Makers, and HDV Fleet Operators.
