Transitioning Fleet Trucks to Electric Raises Costs Up to 114 Percent, Report Warns

Transitioning conventional truck fleets to electric vehicles pushes up annual operational costs, which subsequently increases economic inflation, warned a recent report from transportation and logistics firm Ryder. Florida-based Ryder analyzed the cost of transportation if internal combustion engine (ICE) trucks are converted to EVs. There was a five percent cost increase for light-duty EVs, which jumps to 94–114 percent for heavy-duty trucks, the May 8 report said. For a fleet of 25 mixed vehicles—light, medium, and heavy-duty trucks—costs surge by 56–67 percent. As transportation costs have a direct bearing on the price of goods sold in markets across the country, Ryder estimates such increases to eventually add around 0.5-1 percent to overall price inflation in the economy....