(Zero Hedge)—We already know that emission free or EV trucking isn’t a cost efficient endeavor, which is why many companies like Pepsi have done token purchases of a couple of EV semis, but are still using ICE 18 wheelers to get product to shelves.
Today a new article from Reuters lays out the numbers behind why emission free trucking remains a fallacy: emissions-free trucks need to drop in price by up to 50% to compete with diesel models, according to a McKinsey study.
Currently, less than 2% of the EU’s heavy freight vehicles are electric or hydrogen-powered, but this must rise to 40% of new sales by 2030 to meet EU climate goals. Electric trucks cost 2.5-3 times more to produce than diesel ones, and logistics companies are reluctant to bear the higher costs, making this target challenging, the report says.
McKinsey suggests electric truck prices should be no more than 30% higher than diesel models, requiring major battery advancements.
Reuters writes that a 25% reduction in charging costs and 900,000 private charging points by 2035, needing a $20 billion investment, are also key to the EU’s CO2 strategy. Additionally, European truckmakers face competition from Chinese manufacturers, who have captured 20% of the bus market with cheaper products.
A co-author of the McKinsey study said: “I don’t think it’s impossible that this could actually happen in electric trucks over time.”
Recall we wrote earlier this year that demand for electric semis was plunging.
“The economics just don’t work for most companies,” Robert Sanchez, the chief executive of Ryder, said in May.
Ryder’s experience highlights the difficulties state and federal governments encounter in encouraging truckers to transition from polluting diesel rigs to zero-emissions vehicles, the report says.
It also indicates that significant improvements in battery weight, range, and charging times are necessary for battery-electric trucks to effectively compete with diesel rigs in the cost-sensitive freight industry.
Rakesh Aneja, head of eMobility at Daimler Truck North America, told Wall Street Journal: “Quite frankly, demand has not been as strong as what we would like.”
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
