Amid government efforts to boost the adoption of electric trucks, a new technical report from Ryder reveals that the costs of converting fleets to electric vehicles will significantly increase overall inflation. Ryder, which manages nearly 260,000 commercial vehicles, has found that operating electric trucks will double the operational costs of Class 8 vehicles compared to diesel trucks.

Ryder´s analysis shows that a Class 8 diesel truck has a range of 100 to 500 miles, makes one or two trips per day, and covers 109,000 miles a year with an average payload of 29,000 pounds. In contrast, electric trucks, with a maximum payload of 22,000 pounds, will require nearly twice as many vehicles and drivers to match the productivity of a diesel truck.

This translates into hundreds of thousands of dollars additional per year to replace a single diesel truck, with a 500% increase in monthly payments for an equivalent electric truck, totaling over $200,000 a year. Additionally, labor and operational costs increase significantly, adding nearly $150,000 annually in extra expenses.

Ryder also compared operational costs in California and Georgia, finding that although operating a truck is more expensive in California, the percentage increase in costs due to conversion to electric trucks is higher in Georgia due to fuel prices.

The transition to electric trucks could add up to 1% to overall inflation, according to Ryder´s estimates. Moreover, the infrastructure for rapid charging is still under development, adding another significant challenge for the mass adoption of electric trucks.

The electric truck mandate, driven by new Environmental Protection Agency regulations, presents a considerable challenge for carriers, especially small businesses. The conversion to electric trucks could have devastating effects on the supply chain and significantly increase the costs of consumer goods.

This analysis highlights the need for robust charging infrastructure and adequate financial support to make the transition to electric vehicles viable and sustainable for the transportation industry.