Strategy& – Truck Study, 2024

The truck industry is moving towards Battery-electric trucks (BET) due to regulatory drivers and the offerings of OEMs. Innovations in battery technology and electric drive systems are enabling various use cases, with truck-specific developments being crucial. Despite the challenge of initial investments, total cost of ownership (TCO) supports the move towards electrification. EU regulations are pushing truck OEMs to reduce emissions, leading to the decarbonization of commercial vehicles. As more BET products enter the market, diverse customer requirements regarding range and charging speed need to be met. By 2030, it is expected that over 20% of transportation will be electrified, with truck batteries becoming increasingly important. The success of the BET transition requires significant investments in infrastructure and updated operating models. Cross-industry collaboration is necessary for the transition to be effective, involving regulatory bodies, automotive companies, energy providers, and financial services.