Volvo Trucks Leads Market For Electric Trucks In Europe
A recent market analysis from IHS Markit shows Volvo Trucks is the market leader for heavy all-electric trucks in Europe with a market share of 42%. Volvo ended 2021 with more than 1,100 orders for electric trucks from around the globe, including letters of intent to buy. According to IHS Markit’s findings, a total of 346 electric trucks in the 16-tonne-or-higher range were registered in Europe during 2021, representing an increase of 193% over 2020. The countries with the highest number of electric trucks are Switzerland, Norway, Sweden, and The Netherlands. The UK was not included in the statistics.
Infrastructure Investments Required
Despite the fact that the UK was left out, Christian Coolsaet, managing director of Volvo Trucks UK & Ireland, says the UK would likely rank no higher than eighth on the list even though it is one of the largest commercial vehicle markets in Western Europe.
“When you look at the incentives offered in other European markets, it’s clear that the UK Government needs a more robust strategy to drive the change to e-mobility for HGVs,” Coolsaet says. “Other countries have put far more on the table to support operators in making the switch, such as Norway, where one measure they have adopted includes the state-owned enterprise Enova funding electric vehicles with up to 50% of the additional investments compared to a diesel truck. We also need to see immediate investment in a nationwide charging infrastructure to support electric HGVs. It’s not product availability which will delay our ability to dramatically reduce CO2 emissions within this sector – it’s the lack of electrical infrastructure. Building a renewal energy charging network is vital if we are to hit our net zero goals.”
Volvo Leads Push To Electric
As the international road transport industry transitions to more sustainable logistics, battery-electric heavy trucks are becoming increasingly popular with Europe taking the lead. Each year, more of the trucks are out running in commercial traffic. Volvo Group has taken several steps to push electric vehicles forward. In 2021, Volvo Group entered a joint venture with Mercedes-Benz Trucks and the Traton Group to create a company that will produce charging points for GGVs throughout Europe with the first sites to be motorways. Volvo Trucks began serial production of electric trucks in 2019, becoming one of the first brands to do so, and has since delivered electric trucks to customers in Europe, North America, and Australia. Volvo has set a goal of having half of its total truck sales coming from electric trucks by 2030.
“We are determined to drive the electric truck revolution, and our market leading position in Europe is proof that we are doing just that,” says Volvo Trucks President Roger Alm. “Even if volumes are still low, we see rapidly growing interest, both in Europe, North America, and in other parts of the world. It’s quickly becoming a key competitive advantage for our customers to be able to offer electric, zero-emission trucks.”
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Source: Volvo