Single bet on electric trucks would be ‘super dangerous’ for Europe, Volvo says

{"text":[[{"start":8.36,"text":"Volvo Group has defended its push into hydrogen-powered trucks, arguing it would be “super dangerous” to only bet on electric lorries even as Tesla and Chinese rivals flood the continent with more affordable products."}],[{"start":20.28,"text":"This week, Volvo, Daimler Truck, Scania and Iveco all deepened their partnerships with Japan’s Toyota to expand the rollout of hydrogen trucks in Europe with backing from governments such as Germany."}],[{"start":31.3,"text":"“I think it’s super dangerous to pick a winner at this point in time,” Volvo’s chief executive Martin Lundstedt told the FT at the IAA Transportation exhibition in Hanover, adding that technology options also differed according to country."}],[{"start":44.48,"text":"However, some analysts have questioned European groups’ continuing investment in hydrogen fuel-cell-powered trucks at a time when electric lorries made by China’s Sany, SuperPanther and state-owned Sinotruk are all pushing heavily into European markets."}],[{"start":58.82,"text":"BYD also unveiled its electric heavy-duty truck that can charge from 20 per cent to 80 per cent in 20 minutes, while Tesla’s long-awaited Semi Truck with an estimated range of 550km made its European debut at the IAA."}],[{"start":73.4,"text":"Transport & Environment, an environmental NGO, warned that European truckmakers risk losing a quarter of the electric truck market to new entrants from China and the US by the end of the decade if they do not accelerate their electric transition."}],[{"start":87.12,"text":"Stef Cornelis, T&E’s director of freight and fleets, said trucks by Chinese brands and Tesla were “good products, reliable and much cheaper to operate”."}],[{"start":96.32,"text":"“The trucking business is very cost-focused. If a transport company can buy a good truck at a lower price, they will switch,” Cornelis added, cautioning that relying on customer loyalty and service networks to maintain market share would be “a high-risk strategy”."}],[{"start":111.52,"text":"Seven western manufacturers still dominate heavy-duty truck sales in Europe accounting for about 97 per cent of the market, according to auto data and research firm Mobility Global."}],[{"start":121.08,"text":"But the industry remains deeply divided about the path to decarbonisation, with Volvo and others developing both electric and hydrogen-powered trucks as well as internal combustion engines using biofuel."}],[{"start":133.12,"text":"Proponents of hydrogen trucks claim fuel cells where hydrogen is converted into electricity are more suited for long-haul lorries with heavier payloads and offer faster refuelling. Electric truckmakers counter that hydrogen refuelling stations are too costly and batteries now cover longer distances."}],[{"start":151.4,"text":"Franziska Cusumano, the new chief executive at Mitsubishi Fuso Truck and Bus, said: “For the world to decarbonise, you will always need both (electric and hydrogen).”"}],[{"start":161.92,"text":"The electric transition has been particularly challenging for European truckmakers due to the lack of charging infrastructure and lagging investments in the electricity grids as well as the cost difference with diesel trucks."}],[{"start":173.24,"text":"Despite the rise in diesel prices caused by the Middle East conflict, electric trucks accounted for only 4.8 per cent of new EU registrations in the first half of this year, compared with 92 per cent for diesel trucks, according to the European Automobile Manufacturers’ Association."}],[{"start":null,"text":"

"}],[{"start":189.68,"text":"At the IAA, European carmakers called on Brussels for a three-year delay in EU regulations requiring truck manufacturers to cut emissions by 45 per cent by 2030, compared with 2019 levels. The industry needs electric trucks to have 35 per cent of the market to hit the target."}],[{"start":207.92,"text":"“For us, it’s absolutely existential,” said Daimler chief executive Karin Rådström, who warned that the heavy fines would wipe out a year’s worth of its profits if it missed the target by 10 per cent."}],[{"start":219.98,"text":"A major risk for European groups is that China will replicate the success of its carmakers with electric lorries. Beijing has laid out ambitions for 40 per cent of the country’s new truck sales to be electric by 2030, compared with about 25 per cent last year and 37 per cent more recently as a result of the Iran war."}],[{"start":239.06,"text":"China’s biggest electric-truck maker Sany, for example, will aim to offer electric trucks at 20 per cent below the prices of European manufacturers. The group, which already offers two models in Europe, plans to launch two more trucks in Germany, Austria and Switzerland by the end of next year."}],[{"start":255.42,"text":"“We see ourselves as an enabler to make this transformation more affordable,” said Kevin Eichele, head of product and business development of Sany eTrucks at Putzmeister Holding, which distributes the Chinese group’s products in Europe."}],[{"start":268.66,"text":"However, Achim Puchert, CEO of Mercedes-Benz Trucks, said he was not scared of competition. “Competition drives innovation,” he claimed."}],[{"start":282.14,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1789902935_7637.mp3"}