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What does the future hold for electric trucks and what does that mean for transport and logistics insurance?

Aug 21, 2018

With the government’s target to reduce carbon emissions and plans to stop the sale of new petrol and diesel vehicles by 2040, it looks as though electric vehicles will be playing a more significant role on our roads. But what does this mean for the haulage industry?

Given the long-distance journeys that trucks are often expected to make, could electricity really provide a viable alternative? Tesla certainly think so, given that they have unveiled a class-8 heavy duty truck as their latest innovation. The Tesla Semi is expected to make an appearance on American roads as early as next year. With suggestions that Tesla have already received 500 orders, including orders from some big-name companies such as UPS and Pepsi, the attention of the industry has certainly been grabbed.

Tesla state that the truck has a range of 500 miles and the ability to carry cargo of 36 tonnes. Whilst not putting a timeframe on availability, they have said that freight customers would be given access to megacharging points addressing questions about range.

Whilst the progress in technology is clear to see, could cost remain a barrier to the industry? Could the upfront costs of purchasing an electric truck, which is likely to be substantially higher than a traditional fuel option, be compensated for by the fuel savings? These will be obvious questions that will be asked. Or will there be a shift in the industry whereby vehicles are leased in a bid to overcome the cost barrier?

One thing is certain, with the mounting pressure from the government and continued global concern about climate change, there will be transformation in the industry in the coming years. How quickly the change comes about will no doubt rely on government policy and innovation such as that coming from companies like Tesla.

At Anthony Jones we believe strongly in keeping up to date with the latest technology advances in the transport and logistics sector and how that impacts commercial motor insurance. If you are reviewing your insurance needs our team of experts can help assess your current needs. With us you can also be safe in the knowledge that we have one eye on the future, helping you stay one step ahead.

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