There are now two worlds. The world before Covid-19, and the one we’re in now.
The impact of the global pandemic will be felt for years to come as businesses and industries struggle to overcome its economic impact.
One area of discussion has been how it will affect the development of electric trucks and whether long-term environmental and lifestyle changes will be made.
With less traffic on the roads (allowing trucks to travel through cities at near-posted speed limits) and better air quality, the link between cleaner air and respiratory health is plain to see.
One move towards reduced carbon emissions is electric trucks. Could coronavirus be what triggers a renewed dynamism in their development?
Both traditional truck manufacturers and startups will be looking to accelerate the production of their products to get them to market as soon as possible.
With interest rates low and grant money up for grabs, companies may look to borrow money to invest in things they’ve been putting off.
Even if cleaner air isn’t enough of an incentive for some, governments around the world are going to be keen to create new jobs. Building a factory producing components for electric trucks is a good way of going about it.
But what about the low cost of diesel right now? That could certainly hinder the growth of electric vehicles. But the price of fuel is volatile and is likely to go up again post-pandemic. Demand for fuel is low at the moment, but as demand creeps up, so will the prices.
By contrast, the price of electricity has been stable for several decades. If you were an investor, would you opt for something increasing in price or something that has had stable pricing for as long as you can remember?
As a result of Covid-19, we’re all re-evaluating everything we do. Smart companies will seize the opportunity to push the development of electric trucks forward. And hopefully, the rest will follow.