EU truck manufacturers are late in the electric transition: this is why they risk losing 11% of sales to Tesla and BYD

EU truck manufacturers are late in the electric transition: this is why they risk losing 11% of sales to Tesla and BYD

A delay in the transition to electrification could cause European truck manufacturers to lose more than a tenth of their sales between now and 2035. The risk is to lose up to 11% of the EU market within the next 12 years, to global profits. competitors who are investing more aggressively in zero-emission vehicles.

Tesla and BYD threaten Iveco and Scania

The situation is based on a study prepared by the Boston Consulting Group for Transport & Environment, an independent European environmental organization. The analysis compares three different scenarios in which it estimates the impact of international competition on the truck market in the European Union. In the worst case scenario proposed, a market share comparable to that held today by large road transport companies such as Scania or Iveco will be passed to major global competitors, such as Tesla and China Byd.

T&E: The EU industry needs to be stimulated

Therefore, the request that Transport and the Environment communicate directly with the European parliamentarians to further stimulate the industry of the Old Continent towards the production of vehicles that do not emit emissions, to prevent the entire market from losing to competition from outside the European Union. Today the “barriers” in the supercar market are greater than those in the car market and international and international truck trade is therefore reduced. But this could change quickly if other geographical areas, outside of Europe, also move quickly to electrify freight transport on the road.

Bcg: EU manufacturers will not meet the requirements

According to estimates by Boston Consulting Group, by 2030, along with the decrease in prices, the demand for zero-emission trucks in Europe will increase to cover 55% of sales; Based on the current levels of CO2 emissions it is realistic to expect that European manufacturers will not be able to meet these requirements. According to T&E, EU lawmakers should set higher targets to push companies to produce more zero-emission vehicles. This would help avoid a repeat of what happened in the car market, where European companies that have been slow to ramp up production are now facing fierce competition from Chinese electric car manufacturers.

Here are the economic benefits of rapid change

A rapid transition could create up to 23,000 jobs by 2035. Stricter CO2 emissions targets will ensure European workers get maximum benefits from the switch to electric trucks. The Boston Consulting Group calculated the impact on employment based on different speeds of the transition to zero-emission trucks and found that the faster the transition works, the greater the benefits will be by 2035. Current policies, we recall, provide that manufacturers reduce greenhouse gas emissions from for new cars by 30% by 2030. The European Commission has proposed increasing this target to 45% and setting a 90% reduction target by 2040. The proposed scenario, however, by T & E suggests that manufacturers reduce emissions from their new cars by 65% by 2030. and 100% by 2035, to match the supply of zero-emission vehicles with expected demand. (All rights reserved)