Electrifying the future of on-road HDVs

July 24, 2024 –Stifel IRIS is pleased to release “Electrifying the future of on-road HDVs”, an in-depth analysis exploring the dynamic landscape of zero-emission mobility, industry commitments, and market opportunities in the transition to electric medium and heavy-duty vehicles.

In 2023, passenger mobility hit a major milestone with 31 countries reaching a 5% tipping point in pure-electric transitions, and this is just the beginning:

• By 2030, most MHDV manufacturers are aiming for over 50% zero-emission vehicle (ZEV) sales, with targets of 100% between the years of 2035-2040
• Fleet operators are also stepping up, with ambitious goals to electrify up to 100% of their MHDV fleets by the year 2030
• By 2035, we expect to see 290k electrified transit buses in key regions and 750k HDV trucks in North America alone, representing markets worth over EUR130bn and USD240bn.

Investment decisions continue to hinge on the total cost of ownership, driven by operational costs and energy efficiency. As electrification progresses, sourcing and manufacturing costs will fall, making every kWh cheaper and more competitive.

Europe and California are leading the charge in electric MHDV registrations, but North America and other developed regions are catching up.
This paradigm shift underscores the urgent need for ZE-mobility infrastructure, with public signals and private investments accelerating adoption and expanding the grid.

To dive deep into this topic and discover more about the transformative shift to electric mobility, the impact on MHDV emissions, and future market trends, download the industry brief.