However, an electric truck can save a lot on maintenance and operating costs during its lifespan. I found that the upfront cost of an electric truck is 30 to 50 percent more expensive than a diesel truck. Total cost of ownership: Since price is one of the primary reasons for the hesitation, I created a model to compare the total cost of ownership (TCO) between diesel and battery-electric trucks over the next decade.The challenge of the sustainable transportation alternativesĮlectric vehicles have been a hot topic for a few years but I discovered that people are hesitant to adopt this cleaner energy for transportation, especially EV trucks, for the following reasons: Producing a written report and a presentation of the business plan for the replacement of electric trucks.combustion as well as researching and comparing the pros and cons of EV and traditional combustion for trucking and commercial use purposes Running a total cost of ownership analysis for electric vs.Executing an analysis of subsidies and credits for electric vehicles and battery charging by state and researching and defining the financing options and trends for electric vehicles and battery charges by states.Researching the total market size and potential addressable market for electric trucking.Conducting interviews within the hauler industry to understand current fleet details such as size, useful life and costs, while using the opportunity to introduce EV garbage trucks.Reading a tremendous amount of EV trucking and waste management-related articles, reports, and news to determine the scope and goals for the market research.Having no prior knowledge of the electric truck market, it was critical for me to learn more about the rapidly growing EV market and viable applications in the heavy-duty and long-haul truck area. Electric garbage trucks are coming, but to smooth the transition, fleets need to find the best end-to-end solution that can integrate electric vehicles into the existing fleet. By utilizing the synergies from its portfolio companies and its vast network in waste management, charging infrastructure, and automobile manufacturing, Hampstead Park Capital Management aims to provide an end-to-end electric vehicle solution for its network of vendors and haulers. It is believed that an electric garbage truck fleet will provide a green, stable, and agile waste management system. Electrification: Fast and furiousĮlectrification is happening fast, and it’s happening now. This experience was possible due to the generous support provided by Johnson’s Social Impact Internship Fund (SIIF). I was charged with creating the business case, specifically the regulations and financing options, to replace traditional garbage trucks in New England with a greener, lighter, and cheaper electric garbage truck. Last summer, I had the pleasure of working with Hampstead Park Capital Management which focuses on sustainability, environmental services, and renewable energy investments.
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