Beatrice Lang
The electric vehicle (EV) market is experiencing rapid growth, with sales exceeding $10 million in 2022. Consumers are increasingly interested in electric trucks due to their ability to tow, transport, and perform well in off-road conditions. The shift towards electric trucks is part of a broader movement to reduce carbon footprints across all sectors. While there are currently only a handful of electric trucks available, many more models are expected to enter the market in the coming years. This raises questions for consumers about the top electric truck manufacturers and those to watch in the future. Some of the companies currently making electric trucks include Daimler, DAF, Peterbilt, Hyundai, Kia, Mercedes-Benz, Freightliner, Tesla, Nikola, Volvo Trucks, Ford, VW, Amazon, and Rivian.
| Characteristics | Values |
|---|---|
| Number of electric trucks on the road in 2023 | 10,265 |
| Projected number of electric trucks on the road by 2030 | 1 billion+ |
| Projected growth rate of the global electric truck market by 2030 | 26% |
| Projected growth of the market for electrified trucks of all types and ranges between 2022 and 2030 | $700 million to $11 billion |
| Projected growth rate of the market for electrified trucks of all types and ranges between 2022 and 2030 | 31% |
| Top electric truck manufacturers | Tesla, Nikola Corporation, Volvo Trucks, Ford, VW, Amazon, Rivian, Stellantis, Hyundai, Kia, Daimler, DAF, Peterbilt, Orange EV, GGT Electric, EVage Motors, TELO Trucks |
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What You'll Learn
Companies that made waves in 2023
The electric vehicle (EV) market is experiencing exponential growth, with sales exceeding $10 million in 2022. Consumers are increasingly interested in electric trucks due to their ability to tow, transport, and perform well in off-road conditions. The shift towards electric trucks is part of a broader move to reduce carbon footprints across all sectors. Here are some companies that made waves in the electric truck industry in 2023:
Ford and VW
Ford and VW, two automotive giants, partnered to produce several vehicles, including Ford's VW-based electric crossover for Europe. They are also working on VW's Amarok pickup, based on Ford's Ranger. In addition, the companies joined forces to back Argo AI in developing autonomous vehicle advancements.
Tesla
Tesla Motors broke the EV market open for widespread adoption and is currently the most popular electric car maker. Tesla is manufacturing and delivering the Tesla Semi for commercial applications and the sci-fi-inspired Cybertruck. The Tesla Semi has impressive specifications, including three times the power of an average diesel semi, 1,020 horsepower, and 1,050 lb-ft of torque. In 2023, Pepsi received a fleet of 21 Tesla Semis for local deliveries at its Sacramento plant.
Rivian
Rivian is an e-truck manufacturer that received a significant boost in 2019 when Amazon agreed to purchase 100,000 electric delivery vans. However, Amazon has only ordered 10,000 trucks so far, leading to renegotiations. Rivian's EVs have hit the road in force in 2023, contributing to the growing number of electric trucks in use.
Orange EV
Based in Riverside, Missouri, Orange EV has been producing Class-8 all-electric terminal trucks for industrial use since 2012. In 2023, Orange EV introduced a second model, the HUSK-e, after delivering over 950 Pure Electric Yard Dogs to the North American market.
Daimler
Daimler launched the all-electric truck Rizon brand in the United States in 2023, although there were questions about whether the Rizon trucks are rebranded Mitsubishi Fuso eCanter trucks.
The electric truck market is expected to continue growing, with projections showing a compound annual growth rate of more than 26% by 2030.
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Startups with plans for electric trucks
The shift towards electric trucks is well underway, with several startups aiming to enter the market. As of January 2025, there are 61 electric truck startups globally, 26 of which are funded, with 20 having secured Series A+ funding. The United States has the most number of companies in this sector, with 22 startups.
Some of the notable startups with plans for electric trucks include:
- Rivian: Rivian has gained significant attention and investment from big-name companies such as Amazon and Ford. Its R1T pickup truck and R1S SUV have received positive reviews for their range, off-road capabilities, and sleek design. Rivian's focus on sustainability has also resonated with environmentally-conscious consumers. The company has developed a unique "skateboard" platform that houses the vehicle's battery, motor, and other components, resulting in a low center of gravity and a smoother ride.
- Alpha: Alpha's Wolf two-door pickup was announced in 2021, described as a retro-futuristic electric version of the Toyota Pickup in Back to the Future. The company is currently taking reservations on its website and began construction on its prototype in December 2022. However, the final production version is likely still years away.
- Canoo: Canoo, formerly known as Evelozcity, is based in Bentonville, Arkansas. The company's first announced vehicle was the Canoo Lifestyle Vehicle, followed by the Canoo pickup truck. Canoo describes its pickup truck as having the payload capacity of a full-size truck in the exterior footprint of a midsize truck, with enhanced maneuverability for any terrain.
- Orange EV: Based in Riverside, Missouri, Orange EV manufactures electric terminal trucks for industrial applications. These short-range trucks are designed for the shipping industry, retail packaging and distribution, rail yards, and ports and terminals. The company also converts diesel trucks into electric trucks.
- Einride: Einride is a manufacturer of autonomous electric trucks, providing freight solutions and logistics management solutions. The company helps shippers manage carbon emissions by visualizing and reporting emissions in real time.
- Nikola Motor: Nikola Corporation offers hydrogen-electric and battery-electric vehicles, focusing on creating vehicles capable of handling significant loads over long distances.
- Volta Trucks
- Tevva
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The shift towards electric semi-trucks
The transportation industry is on the brink of a significant transformation with the introduction of electric semi-trucks. This shift is part of a broader move to reduce carbon footprints across all sectors. While switching to electric depends on factors like infrastructure and cost, incentives for cleaner energy solutions may soon make electric vehicles (EVs) a necessity.
Several manufacturers are leading the way in the electric semi-truck market, each with their own models designed to meet the freight industry's various requirements. Tesla, for instance, is manufacturing the Tesla Semi, which PepsiCo has adopted for its fleet, and the sci-fi-inspired Cybertruck, which is expected to be delivered to customers in 2024. Nikola Corporation, meanwhile, offers hydrogen-electric and battery-electric vehicles, and Volvo Trucks focuses on electric models like the Volvo VNR Electric. Other companies making electric trucks include Daimler, DAF, Peterbilt, Hyundai, Kia, Mercedes-Benz, Freightliner, Canoo, Alpha, and Ford.
The cost of electric semi-trucks is typically higher upfront compared to traditional diesel trucks. However, the total cost of ownership can be lower due to savings on fuel and maintenance. Prices vary based on battery size, range, and specifications. Early reports suggest that electric semi-trucks can be highly reliable, sometimes even outperforming diesel trucks. The technology for heavy-duty electric trucks is advancing, with companies like Tesla and Nikola focusing on creating vehicles capable of handling significant loads over long distances.
The market for electric trucks is experiencing exponential growth, with sales exceeding $10 million in 2022. By 2030, the global electric truck market is projected to grow at a compound annual growth rate of more than 26%. In 2023, over 10,000 electric trucks hit the roads in the US, and by 2035, the goal is to achieve 100% zero-emission truck sales.
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Electric truck manufacturers in 2023
Electric trucks are becoming increasingly popular, with sales projected to grow at a compound annual rate of more than 26% by 2030. In 2023, over 10,000 electric trucks hit the road in the US alone, with companies making significant investments in zero-emission vehicles.
Leading Electric Truck Manufacturers in 2023
Tesla
Tesla Motors is a pioneer in the EV market and is currently the most popular electric car maker. In 2023, Tesla continued to manufacture and deliver its much-anticipated Tesla Semi, with a range of around 400 miles and charging capabilities of up to 85% in 30 minutes. The company also works on the sci-fi-inspired Cybertruck, with the earliest production models expected to be delivered to customers in the third quarter of 2023.
Ford
Ford's F-150 Lightning was named the best e-truck of 2023 by Kelley Blue Book. The truck has a starting price of $49,995 and offers various models, with the F-150 Lightning Platinum Extended Range capping off at $91,995. Ford has also partnered with VW to produce several electric vehicles, including the VW Amarok pickup, based on Ford's Ranger.
Rivian
Rivian is an e-truck manufacturer that received a significant boost in 2019 when Amazon agreed to purchase 10,000 electric delivery vans. While Amazon has only ordered 10% of that initial agreement, Rivian's EVs hit the road in 2023, with the company delivering on its promises.
Orange EV
Based in Riverside, Missouri, Orange EV has been producing Class-8 all-electric terminal trucks for industrial use since 2012. In 2023, the company introduced the HUSK-e, its second model, after delivering over 950 Pure Electric Yard Dogs to the North American market.
Daimler
Daimler launched the all-electric truck Rizon brand in the United States in 2023. There were questions about whether the Rizon trucks were rebranded Mitsubishi Fuso eCanter trucks, but Daimler did not address these speculations.
Other notable electric truck manufacturers and startups to look out for include Canoo, Alpha, Nikola, Volvo Trucks, and EVage Motors.
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The future of electric trucks
Several companies are already making significant strides in the electric truck market. Tesla, for example, has developed the Tesla Semi, which has three times the power of an average diesel semi and is used by companies like PepsiCo for local deliveries. Nikola Corporation is another key player, offering both hydrogen-electric and battery-electric vehicles, including the Nikola motor with over 225 BEV & FCEV class 8 trucks on the roads in California and Canada. Volvo Trucks is also focusing on electric models like the Volvo VNR Electric.
Startups are also making their mark in the electric truck space. Canoo, based in Bentonville, Arkansas, has announced the Canoo pickup truck, which it describes as having the payload capacity of a full-size truck with enhanced maneuverability for any terrain. Alpha's Wolf two-door pickup, a retro-futuristic electric version of the Toyota Pickup from "Back to the Future", is another example of a startup innovation.
Traditional automotive giants are not far behind in the race to electrify trucks. Ford and VW have partnered to produce several electric vehicles, including VW's Amarok pickup based on Ford's Ranger. Amazon has also ordered 10,000 electric delivery vans from Rivian, with the potential for more sales to other organizations if a new deal isn't met soon.
The shift towards electric trucks is not just about sustainability and performance but also cost-effectiveness. While the upfront cost of electric trucks is higher compared to traditional diesel trucks, the total cost of ownership can be lower due to savings on fuel and maintenance. As technology advances and infrastructure improves, electric trucks will become even more appealing to both businesses and consumers, driving the industry towards a more sustainable future.
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Frequently asked questions
Many companies are manufacturing electric trucks, including:
- Tesla
- Nikola Corporation
- Volvo Trucks
- Ford
- VW
- Amazon
- Rivian
- Daimler
- DAF
- Peterbilt
- Orange EV
- Hyundai
- Kia
- Mercedes-Benz
- Freightliner
- EVage Motors
- GGT Electric
- Canoo
Tesla, with its Tesla Semi, and Volvo Trucks, with its Volvo VNR Electric, are two of the biggest names in the electric semi-truck market.
Some companies manufacturing electric pickup trucks include:
- Canoo
- Alpha
- TELO Trucks
- Ford
