Photo 140954573 | Nikolai Sorokin | Dreamstime
Dreamstime M 140954573

Electric truck production expected to triple in 2023

March 8, 2023
Industry researchers expect three times the amount of electric commercial vehicles to be made in 2023, although the number accounts for less than 1% of total production.

Americans can expect to see far more electric vehicles on the road as EV truck production is projected to increase 300% in 2023, according to a report by industry researchers Rhein Associates and ACT Research.

“Battery-electric truck production is expected to triple this year compared to last,” said Andrew Wrobel, senior powertrain analyst at Rhein, which published the report alongside ACT. “However, this growth is still moderate within the broader market, accounting for less than 1% of total truck production.”

The expected increase in the production of Classes 5-8 trucks coincides with increased government support of EVs, particularly in California.

“The California Air Resources Board approved a $2.6 billion investment plan to assist transition to zero-emission transportation,” Wrobel said regarding legislation, “with the majority of the incentives and subsidies approved focused on cleaner trucks and buses.”

Kenny Vieth, president and senior analyst at ACT Research, commented on the stronger-than-expected national economy in the report, stating, “The U.S. economy grew by 2.9% in Q4’22, surprising many analysts and pushing full-year 2022 growth to 2.1%. In addition to stronger-than-expected Q4 growth, this marked the first quarter since the start of the pandemic that every economic sector contributed positively to the economy’s performance.”

“Our view of the U.S. economy remains largely consistent with the perspectives we have offered to readers over the last few months," he added, "but with a shift in timing: A recession remains likely, mild in degree and duration. But instead of being centered in 1H’23, our current thinking aligns downturn timing with the game of chicken being played in D.C. around the debt ceiling and U.S. creditworthiness.”

The NA On-Highway Engine Outlook published by ACT Research and Rhein Associates highlights power-source activity for commercial vehicles from Classes 5-8, including five-year forecasts of engine volumes and product trends. The Engine Outlook ties to the North American commercial vehicle forecasts published monthly by ACT in the NA Commercial Vehicle Outlook.

About the Author

FleetOwner Staff

Our Editorial Team

Kevin Jones, Editorial Director, Commercial Vehicle Group

Josh Fisher, Editor-in-Chief

Jade Brasher, Senior Editor

Jeremy Wolfe, Editor

Jenna Hume, Digital Editor

Eric Van Egeren, Art Director

Sponsored Recommendations

Reducing CSA Violations & Increasing Safety With Advanced Trailer Telematics

Keep the roads safer with advanced trailer telematics. In this whitepaper, see how you can gain insights that lead to increased safety and reduced roadside incidents—keeping drivers...

80% Fewer Towable Accidents - 10 Key Strategies

After installing grille guards on all of their Class 8 trucks, a major Midwest fleet reported they had reduced their number of towable accidents by 80% post installation – including...

Proactive Fleet Safety: A Guide to Improved Efficiency and Profitability

Each year, carriers lose around 32.6 billion vehicle hours as a result of weather-related congestion. Discover how to shift from reactive to proactive, improve efficiency, and...

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry during this informative webinar, where experts will share insights on competitive...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!