In an interview with FOX Business, Hari Nayar, VP of fleet electrification and sustainability at Merchants Fleet, a fleet management and leasing company, said the high cost of available EVs in distribution is stopping logistics and transportation companies from electrifying their vehicles.
While EVs are expected to account for 14-18% of U.S. electricity consumption by 2040, other advances in technology and energy efficiency are expected to reduce demand while vehicle supply increases, Nayar said.06 May 2022, Lower Saxony, Goslar: A lithium-ion battery havers during a nail test as part of a demonstration in a container on the premises of the fire protection company Stöbich.
"With most lifecycles being 4 to 6 years, the cost savings can be substantial, even after the charging infrastructure is considered," he finished.US POSTAL SERVICE ANNOUNCES $9.6B INVESTMENT IN NEW ELECTRIC VEHICLE FLEET WHILE OPERATING AT A LOSSNayar said batteries make up a significant portion of an electric vehicle's cost, accounting for up to 30-50% in the case of 18-wheelers and buses.
Currently, the department is undergoing research and development to reduce the relatively high cost of EV batteries, while extending the batteries’ useful life and addressing safety concerns like overheating. In 2020, just 2% of vehicles on the road in the U.S. were EVs, but in 2022, alongside incentives offered by the, the number reached roughly 6% and is projected to grow by more than 20% by 2030, department of energy data shows.
Let the free market decide, that’s the problem!
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »