With a global forecast of 31.4% compound annual growth through 2030, the electric commercial vehicle (ECV) market poses a myriad of challenges and opportunities for commercial truck OEMs, dealers, upfitters and customers. To assist in navigating the complex issues these parties will face, Mitsubishi HC Capital America identified six market factors to consider in ECV investment decision-making.
“The transition to ECVs requires much more than selecting a new model truck, and the complexity of commercial vehicle electrification can be daunting for companies to consider,” Dave Herring, vice president and general manager of work truck finance at Mitsubishi HC Capital America, said. “Through our consultative approach for supporting ECV adoption, we capture intelligence from end-to-end on the supply chain to provide the most comprehensive view on technological developments, market dynamics and industry participants.”
The following are current top considerations for the commercial mobility industry identified by executives at Mitsubishi HC Capital America based on their industry expertise, customer and partner input, as well as their participation in panel presentations at the recent Commercial Vehicle Business Summit.
“Commercial dealers need assistance providing a complete solution to their customers that includes the EV truck, the charging station and all other costs related to the charging and power infrastructure, with the total costs spread over the useful life of the vehicle,” Chris Pagano, vice president and general manager of structured finance at Mitsubishi HC Capital America, said. “Whether you’re considering a small or pilot project with one or two charging stations, or a larger project, such as the complete conversion of commercial fleets to EV along with a charging depot, understanding market conditions and partnering with industry experts throughout the EV supply chain will help ensure successful deployment.”
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