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New research from Sweden’s Chalmers University of Technology challenges common beliefs by demonstrating that electricity can be a more cost-effective option than diesel for heavy-duty vehicles.
What Happened: The study, based on data from an actual haulage company in Helsingborg, compared two battery sizes for electric trucks. While the larger battery reduced load capacity, it eliminated the need for on-road charging.
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Conversely, the smaller battery allowed for more load capacity but required quick charging during transit.
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Battery Size Matters: However, the study’s author, doctoral student Johannes Karlsson, believes that with appropriately sized batteries, it is possible to electrify heavy goods vehicles (HGVs) at a cost equal to or even lower than that of diesel engines.
The ideal battery size, according to the research, depends on factors such as cargo weight, driving patterns, and fast charging costs. Karlsson stated, “A realistic future scenario is that HGVs will have different battery sizes.”
Other Takeaways: Additionally, the study highlights the long-term benefits of investing in batteries and charging equipment, as commercial vehicles typically undergo over 1400 charges throughout their lifespan. Given this perspective, the economic feasibility of such investments becomes more apparent.
Why It Matters: This research carries significant implications as various automakers, including Tesla Inc (NASDAQ:TSLA), BYD Co Ltd (OTCPK: BYDDY) (OTCPK: BYDDF), NikolaCorp (NASDAQ:NKLA), TuSimple Holdings Inc (NASDAQ:TSP), Volvo AB (OTCPK: VLVLY) and Mercedes-Benz Group AG (OTCPK: MBGAF), are currently producing medium and heavy-duty electric trucks.
According to the U.S. Energy Information Administration, trucks are projected to represent 69% of all vehicles by 2050, with electric trucks accounting for less than 10% of the total.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Read More: YouTuber Who Created Her Own Tesla ‘Pickup’ Swaps It For A Volvo: Here’s Why
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.