Tesla may be the name on American lips, but Volvo dominates the European heavy all-electric truck market. And with the relative absence of iconic Elon Musk on the landscape, others are scrambling to ramp up electric commercial motor vehicle production.
Recent data indicates that Volvo Trucks outpaced competitors by securing 42 percent of the EU’s market share. The top producer of heavy all-electric trucks also garnered orders for an additional 1,100 models before 2022 kicked off. With the freight hauling industry trending toward sustainable semis, Volvo made a wildly success push during 2021 to establish its footprint. From 2020 through 2021, Volvo Trucks positioned itself as the leader by posting 193 percent growth.
“We are determined to drive the electric truck revolution, and our market-leading position in Europe is proof that we are doing just that. Even if volumes are still low, we see rapidly growing interest, both in Europe, North America, and in other parts of the world,” Roger Alm, president of Volvo Trucks, reportedly said. “In 2021, we have taken orders, including letters of intent to buy, for more than 1,100 trucks in over 20 countries. I’m convinced it’s becoming a key competitive advantage to offer electric, zero-emission transports.”
The household name auto manufacturer was among the first to invest in heavy all-electric trucks, beginning serial production in 2019. Now number one in the EU, Volvo Trucks officials plan to expand their offering during the fall of 2022. Heavy-duty all-electric models such as Volvo FH, Volvo FM, and Volvo FMX have already been slated for production and increased distribution. Buyers in North America and Australia can expect to see Volvo make a splash by the end of 2022.
“Clearly, these numbers show that we’re off to a very good start in sales. With the broader electric truck line up, it will be possible to electrify nearly half of heavy road transports. This proportion will grow even larger as the distance that electric trucks can drive increases and the charging infrastructure for heavy trucks becomes further developed,” Alm reportedly said.
The international car, truck, SUV, and all-electric manufacturer plans to sell an inventory that includes 50 percent electric trucks by 2030. Those ambitions appear to pose a challenge for largely American-based Tesla. Recent statistical data shows that Tesla sustained a 4.5 percent setback in battery electric vehicle sales during periods of 2021. The growing electric vehicle trend and a softening of Tesla market share may be why Sweden’s Volta recently invested $260 million to produce 16-tonne fully-electric trucks with delivery beginning in mid-2022. Volta also plans major production efforts to ramp by year’s end.
Sources: prnewswire.com, reuters.com, techcrunch.com
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