Volvo Trucks sees 141% heavy electric truck order increase Y/Y

Volvo Trucks sees 141% heavy electric truck order increase Y/Y

Since launching its first electric truck in 2019, Volvo Trucks says it has sold almost 5,000 electric trucks.

During the first quarter of 2023, a total of 600 electric trucks weighing 16 tons and more were registered in Europe – more than four times compared to the same period in 2022 (134). Volvo Trucks says that it has the largest market share of this at 50%: an increase compared to 2022, when the company’s market share for the full year was 32%. Volvo Trucks adds it also maintains a leading position in the U.S. and Canada, with nearly half of the heavy electric truck market. The markets with the most electric trucks registered overall (including all brands) during the first quarter of 2023 were Germany, France, the Netherlands and the U.S.

Volvo Trucks says it saw an increase in new truck orders during the first quarter of 2023. A total of 486 electric trucks were ordered, which is an increase of 141% compared to the same period in 2022. Most of these orders came from countries in the northern part of Europe, including the Netherlands, Germany, Norway and Sweden.

Since launching its first electric truck in 2019, Volvo Trucks says it has sold almost 5,000 electric trucks in about 40 countries – mainly in Europe and North America, but also in countries like Australia, Chile and Morocco. During 2023, the company will start to sell electric trucks to customers in South Africa, South Korea, India and markets in Latin America.

Last year, Volvo added three 44-ton heavy-duty trucks to its electric lineup: the Volvo FH, the Volvo FM, and the Volvo FMX. With these new additions, Volvo Trucks has six electric truck models in series production.

Currently, Volvo Trucks says it is scaling up production of electric trucks at three plants: in Gothenburg, Sweden; in Blainville, France; and in New River Valley, US. In the third quarter of 2023, serial production will also start at Volvo’s largest factory in Ghent, Belgium.

Thousands of public charging points for heavy trucks will be needed to scale up the volumes of electric trucks. The company says that Volvo Group will, together with Daimler and Traton, build at least 1,700 high-performance green energy public chargers all around Europe. The group is also investing in a charging corridor in North America.

Volvo Trucks says it is aiming for 50% of global sales of new trucks to be electric in 2030, and 100% to be net-zero emission by 2040.

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