The transition to electric vehicles is now almost inevitable, but it's still uncertain how quickly it will happen. This is especially true when it comes to trucks. They account for less than 5% of the vehicles on the road but produce over 20% of the emissions from the transportation sector, which currently accounts for more than one-third of U.S. greenhouse gas emissions.
This is of concern because the adoption of electric trucks is expected to be slower than passenger vehicles, in part due to their significantly higher cost (2X-3X than an equivalent diesel truck in 2023). And, even though they’re expected to achieve cost parity within a decade, trucks tend to have much longer service lives, and they often stay on the road even longer than passenger cars.