Full electrification of the U.S. commercial truck fleet would require nearly $1 trillion in infrastructure investment alone, according to a new report from Roland Berger released today by the Clean Freight Coalition. The study forecasts a realistic infrastructure buildout for the electrification of medium- and heavy-duty commercial vehicles, exposing what the CFC calls a massive investment gap as state and federal policymakers mandate increased adoption rates of battery-electric commercial vehicles. Key findings: Preparing today’s commercial vehicle fleet for electrification would require the commercial vehicle industry to invest upwards of $620 billion in charging infrastructure alone, including chargers, site infrastructure and electric service upgrades. Utilities would need to invest $370 billion to upgrade their grid networks to meet the demands of just commercial vehicles. This nearly $1 trillion expenditure does not account for the cost of new battery-electric trucks, which according to market research can be two to three times more expensive than their diesel-powered equivalents.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 0.5% in September after rising 2.1% in August. In September, the index equaled 118.8 (2015=100) versus 118.2 in August. “The latest gain put tonnage at the highest level since August 2019 and the third highest level on record,” said ATA Chief Economist Bob Costello. “This is another example of how the contract freight market remains strong despite weakness in the spot market this year. During the third quarter, tonnage increased 0.5% over the second quarter while increasing 5.6% over the same period in 2021. That was the largest quarterly year-over-year increase since the second quarter of 2018.” Compared with September 2021, the SA index increased 5.5%, which was the thirteenth straight year-over-year gain. In August, the index was up 6.7% from a year earlier. Year-to-date through September, compared with the same period in 2021, tonnage was up 4%.

National Average Price for Regular Unleaded Current: $3.096; Month Ago: $3.609; Year Ago: $3.293. National Average Price for Diesel Current: $4.697; Month Ago: $5.269; Year Ago: $3.578.