Volvo Trucks leads the charge in electric truck market
Volvo Trucks has cemented its position as a global leader in the electric truck industry, making significant strides across Europe, North America, and South Africa.
The company has now dominated the heavy electric truck segment in Europe for five consecutive years, securing an impressive 47% market share by the end of 2024. In North America, Volvo holds a commanding 40% market share, while in South Africa, its e-mobility solutions are gaining traction with new customers.
Proven success in the electric truck market
Since serial production began in 2019, Volvo Trucks has developed eight electric truck models, delivering over 4,800 units worldwide. The company’s electric fleet has covered more than 140 million kilometres, demonstrating its durability and efficiency in real-world operations. The top five markets for Volvo’s electric trucks in 2024 were Germany, the Netherlands, Sweden, Norway, and Switzerland.
Volvo Trucks President Roger Alm attributes the company’s success to its ability to provide a diverse portfolio tailored to regional, urban, and construction transport needs. “We are proud to be leading the transformation to zero-emission transport. We have a very strong electric truck portfolio for regional, city, and construction transport. Our next electric truck to the market will be running longer distances of up to 600km on one single charge,” says Alm.
Expansion in South Africa
Volvo Trucks’ global dominance extends to South Africa, where the company is making progress in electric truck adoption. A key milestone was the delivery of two Volvo FH 6x4 electric truck tractors to Vector Logistics, a major player in South Africa’s cold chain logistics industry.
The 665hp, 2,400Nm torque trucks will be used for local distribution operations in Gauteng and Cape Town. To support their integration, Vector Logistics has installed high-speed DC charging stations at its depots, allowing efficient recharging. Each truck has a range of 200 to 300 kilometres, making them well-suited for urban logistics.
“We are excited about Vector Logistics’ shift towards the electrification in their fleet. Just like Volvo Trucks, sustainability is part of their core values, and together we believe this innovative solution will help shape the future of the local logistics landscape,” says Waldemar Christensen, Managing Director of Volvo Trucks South Africa.
Challenges facing the electric truck industry
Despite Volvo’s success, electric trucks represented only 1.3% of the total truck market in Europe in 2024. In South Africa, the adoption rate is even lower, with only 11 electric trucks sold in the past year.
For widespread adoption to take place, investment in public charging infrastructure, improved grid capacity, and supportive government policies will be essential.
“In order to accelerate the shift to zero-emission transport, it’s not sufficient that we have the electric trucks ready. According to our analysis, we will need 40,000 fast chargers along European roads for a potential total of 400,000 electric trucks by 2030. We also need more efficient economic policies that make electric truck operations profitable for all transport companies,” Alm states.
South Africa’s hurdles
South Africa faces the same challenges, compounded by its unstable electricity supply. Load shedding and power shortages present significant operational risks for companies looking to transition to electric fleets. However, Volvo Trucks believes that strategic planning can help businesses navigate these obstacles.
“In a way, we believe it is all down to planning. Operators will have the necessary tools to plan their charging options according to their workload and routes, even though there is load shedding,” says Eric Parry, Volvo Trucks’ Sustainable Solutions Manager.
For fleet operators, charging electric trucks at their depots rather than relying on public charging infrastructure is a practical solution. Unlike passenger EVs, commercial trucks return to base daily, making scheduled charging a viable option.
More electric trucks in South Africa?
If businesses establish their own charging infrastructure, will we see more electric trucks on South Africa’s roads? The answer is uncertain.
On the positive side, growing corporate sustainability commitments and stricter emissions regulations may push more companies towards electric fleets. The quieter operation of electric trucks also allows for night-time deliveries, reducing urban congestion and improving logistics efficiency.
However, cost remains a major barrier. At present, the purchase price of an electric truck is significantly higher than that of a diesel truck. Nonetheless, declining battery prices could make electric trucks more affordable in the coming years.
The key factor is total cost of ownership (TCO), which includes fuel savings, maintenance, and operational expenses. The exact timeline for purchase price parity remains uncertain (because it is influenced by various factors, including technological advancements and economies of scale). However, some studies predict that zero-emission vehicles, including heavy-duty trucks, won’t achieve cost parity with diesel models before 2030.
Cost-conscious South African transport operators will almost certainly wait until then before incorporating electric trucks into their fleets.
