Electric trucks could displace as many as 3.5 million barrels of diesel a day by 2050.
That’s according to global management consulting firm McKinsey Energy Insights (MEI), which says this is the equivalent of removing more than 40% of the industry’s demand for the fuel.
Trucks currently make up around a fifth of road transport fuel demand due to their high consumption and mileage, despite representing only 5% of the global vehicle stock.
The company suggests by 2030, electric models could account for 15% of global truck sales, reaching as high as 35% in China and Europe – it expects them to cost the same as diesel-powered trucks within the next 10 years.
This will be encouraged by clean air regulations such as inner city diesel bans accelerating the deployment of electrified transport.
Once electric vehicles (EVs) become more mainstream, the roll-out of charging infrastructure along motorways is expected to drive take-up of the technology.
Waitrose has launched Europe’s first long-range renewable biomethane truck fleet.