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Global Top 10 Electric Truck Companies [2023]

Last Updated on 08th January 2024

An electric truck or e-truck is a battery-powered electric vehicle designed to carry heavy payloads and transport cargo and provide better performance for drivers.

 

Here are the most common types of electric trucks:

  • Cargo vans
  • Delivery trucks
  • Garbage trucks
  • General trucks
  • Milk floats
  • Off-road and mining trucks
  • Pickup trucks (electric pickup trucks include Rivian R1T and General Motors’ GMC Hummer EV)
  • Semi-trailer and tractor trucks (including electric semi-trucks)

 

Among electric vehicles, a hybrid electric vehicle (HEV) such as a hybrid electric truck, is powered by a conventional internal combustion engine along with an electric motor.

 

Compared to diesel or gasoline-powered trucks, electric trucks produce zero tailpipe emissions. Electric trucks also have higher energy efficiency and reduced operating costs in contrast to traditional trucks.

 

Keep reading to learn more about the top market players transforming the electric truck industry.

 

Table of Contents

Global Top 10 Electric Truck Companies [2023]

Beiqi Foton Motor Co., Ltd.

BYD Co., Ltd.

Daimler Truck AG

Dongfeng Motor Corporation

Nikola Corporation

PACCAR, Inc.

SAIC Hongyan

SANY

Tesla, Inc.

Volvo Group (AB Volvo)

Electric Truck Developments

Blackridge Research & Consulting – Global Electric Trucks Market Report

Wrapping Up

 

Global Top 10 Electric Truck Companies [2023]

 

Here are the world’s leading electric truck companies (listed alphabetically):

 

Beiqi Foton Motor Co., Ltd.

Founded: 1996

Location: Changping, Beijing, China

 

Beiqi Foton Motor Co., Ltd. (also known as “Foton Motor” and “Foton” (FOTON)) is a subsidiary of the BAIC Group (Beijing Automotive Industry Holding Co., Ltd.).

 

The company is one of the world’s leading commercial vehicle manufacturers, with a high-standard digital factory, advanced testing and verification capabilities, autonomous driving platooning technology, and more.

 

From taking the lead in releasing unmanned trucks in China to being the first enterprise to get an automatic driving road test license plate in China’s commercial vehicle sector, Foton has come a long way in the automobile industry.

 

The company manufactures a full series of commercial vehicles, including:

  • Buses and coaches
  • Medium- and heavy-duty trucks
  • Light-duty trucks
  • Mini trucks
  • Vans
  • Special vehicles
  • Tankers
  • Refrigerated vans
  • Dumpers
  • Cranes
  • Garbage trucks
  • Ambulances
  • School buses
  • Wreckers

 

According to an industry news source, Foton is planning a second plant in Mexico for manufacturing traditional internal combustion vehicles and EVs.

 

Another industry news source reported that Foton delivered its first batch of electric light trucks to its Thai joint venture—CP Foton Sales Company Ltd. —to boost its line-up in one of South East Asia’s largest vehicle markets.

 

BYD Co., Ltd.

Founded: 1995

Location: Shenzhen, Guangdong, China

 

BYD Co., Ltd. (“BYD” is an abbreviation of “Build Your Dreams”) was founded by Chinese chemist Wang Chuanfu and is one of China’s largest privately owned enterprises with several subsidiaries.

 

Over the years, BYD has evolved into a leading technology company with more than 30 industrial parks across 6 continents and an industry leader in automotives, electronics, renewable energy, and rail transit.

 

BYD Europe

 

As BYD’s first overseas subsidiary, BYD Europe provides European customers with BYD new energy vehicles, energy storage systems, rechargeable batteries, solar panels, rail transit and other new energy products, and related after-sales services.

 

In addition to pure electric buses, BYD Europe provides new energy vehicles, eTrucks, and eVans.

 

BYD’s eTruck and eVan range listed below comprises vehicles designed to provide a better working experience and low TCO (Total Cost of Ownership).

 

Furthermore, these electric vehicles with fast-charging technology offer long range for daily operations.

  • ETP 3
  • ETM 6
  • ETH 8
  • EYT

 

Daimler Truck AG

Founded: 2019

Location: Leinfelden-Echterdingen, Germany

 

Founded as a subsidiary of Daimler AG, Daimler Truck AG (Daimler Truck) is one of the world’s largest commercial vehicle manufacturers with 40+ production sites across the world.

 

Apart from light-, medium-, and heavy-duty trucks, Daimler Truck’s portfolio includes city and intercity buses, coaches, and bus chassis.

 

Here are Daimler Truck’s well-known brands:

  • Freightliner
  • Western Star
  • Mercedes-Benz
  • FUSO
  • BharatBenz
  • RIZON

 

Daimler Truck’s RIZON brand represents all-electric trucks in the medium-duty segment, which are ideal for various applications, including flatbed trucks, landscape waste sites, vans, and refrigerated trucks.

 

RIZON zero-emission trucks and mobility solutions comprise the following model variants:

 

L Variant (a range of 110-160 miles with 3 battery packs)

  • e18L
  • e16L

 

M Variant (a range of 75-110 miles with 2 battery packs)

  • e16M

 

Furthermore, RIZON trucks incorporate advanced passive and active safety systems, such as Active Brake Assist and Active Side Guard Assist for the safety of drivers, passengers, and the communities in which they operate.

 

Dongfeng Motor Corporation

Founded: 1969

Location: Wuhan, Hubei, China

 

Dongfeng Motor Corporation Ltd. (also known as “DFM” and “Dongfeng”) is a prominent automobile manufacturer.

 

As one of China’s largest automobile groups, DFM is an industry leader in manufacturing, marketing, and R&D, with main business areas covering a comprehensive range of auto assemblies, parts, and components, commercial and passenger vehicles, and other automobile-related products and services.

 

DFM’s comprehensive vehicle range includes:

  • Cars
  • SUVs
  • Minivans
  • MPVs
  • Pickup & Offroad Vehicles
  • Buses
  • School bus
  • Highway bus
  • City bus
  • Trucks
  • Medium-duty trucks
  • Heavy-duty trucks
  • Light-duty trucks
  • Mini trucks
  • Special-purposed versions
  • Sanitation truck
  • Engineering truck
  • Cross-country bus

 

Dongfeng offers several vehicle models with combustion or electric mobility.

 

According to an industry news source, Dongfeng introduced the pure electric delivery truck “DFAC EV300” in 2016, which was suitable for urban deliveries.

 

In 2018, Dongfeng updated the model and introduced the “DFAC EV350”—a pure electric van cargo truck with a large loading capacity and a high-efficiency 100 kW electric motor.

 

In addition, the use of lighter materials made the DFAC EV350 500 kilograms lighter than the EV300.

 

Nikola Corporation

Founded: 2015

Location: Phoenix, Arizona, United States

 

Nikola Corporation (also known as “Nikola Motor” and “Nikola”) is a well-known American heavy-duty commercial vehicle manufacturer, which develops energy and transportation solutions.

 

The company designs and manufactures commercial battery and hydrogen fuel cell electric vehicles, vehicle components, electric vehicle drivetrains, energy storage systems, and hydrogen station infrastructure.

 

Nikola’s electric vehicles include:

 

TRE BEV (Battery Electric Vehicle): Tre BEV is described as “a reimagined cab-over BEV” and “the most advanced zero-emissions class 8 semi-truck.” Designed for short-haul metro-regional applications, Tre BEV provides up to 330 miles of range at lower operating costs than a conventional diesel truck.

 

In addition, Tre BEV reduces maintenance costs while maximizing driver safety.

 

TRE FCEV (Fuel Cell Electric Vehicle): Tre FCEV is described as “the hydrogen-powered FCEV for longer or continuous metro-regional applications.”

 

Nikola is reported to be the first U.S. truck manufacturer to add PlusDrive Next Generation Safety System to Class 8 electric trucks.

 

Furthermore, Nikola’s dedicated consultants provide guidance and support for a smooth transition to reliable, robust, and safe electric vehicle charging solutions—from EV charger selection to installation.

 

PACCAR, Inc.

Founded: 1905

Location: Bellevue, Washington, United States

 

Founded as “Seattle Car Manufacturing Company” by William Pigott Sr., PACCAR, Inc. is an industry leader in the design, manufacture, and customer support of high-quality premium trucks.

 

PACCAR designs and manufactures a wide range of commercial trucks through its subsidiaries—DAF, Kenworth, and Peterbilt.

 

DAF

 

Apart from the new generation DAF XD and XF Electric range, DAF offers the DAF LF Electric—a zero-emission distribution truck with a GVW (Gross Vehicle Weight) of 19 tonnes.

 

Kenworth

 

Kenworth’s zero-emission trucks combine fully integrated, highly advanced electric powertrains with superior maneuverability, visibility, and driver comfort.

 

Kenworth’s electric fleet includes T680 FCEV, T680E (the company’s first-ever Class 8 battery electric truck), as well as K270E and K370E (Class 6 and Class 7 battery electric trucks).

 

Peterbilt

 

Peterbilt’s electric vehicles include 579EV Day Cab (ideal for short haul and drayage applications), 220EV (suitable as a pickup and delivery truck), and 520EV (ideal for commercial and residential refuse applications).

 

PACCAR also provides comprehensive charging solutions and infrastructure support for its fleet of electric commercial vehicles.

 

SAIC Hongyan

Founded: 2003

Location: Chongqing, China

 

SAIC-Iveco Hongyan Commercial Vehicle Co., Ltd. (also known as “SIH” and “SAIC Hongyan”) is a heavy-duty truck manufacturer invested jointly and established by SAIC-Iveco Commercial Vehicle Investment Co., Ltd. and Chongqing Heavy Vehicle Group Co., Ltd. SAIC Hongyan is part of the SAIC Group (Shanghai Automotive Industry Corporation).

 

An industry news source reported the launch of SAIC Hongyan’s H6 series electric heavy-duty trucks in 2020. Having passed rigorous tests at high altitudes in extremely high or low temperatures, SAIC Hongyan’s fast-recharging electric heavy-duty trucks can drive 200 km continuously.  

 

Another news source stated that SAIC Hongyan officially commenced autonomous driving testing and operations of its 5G+L4 level fully electric intelligent heavy truck in 2023 at the Jingtang Port.

 

Here are the key features of this truck, which promises precise, efficient, and reliable operations at the port:

  • Autonomous driving visual perception
  • Centimeter-level, high-precision positioning (enables predictive perception in complex traffic scenarios)
  • Laser positioning
  • Planning control capabilities

 

SANY

Founded: 1989

Location: Changsha, Hunan, China

 

Sany Heavy Industry Co., Ltd. (stylized as “SANY”) is a globally leading heavy machinery manufacturing company with over 20 R&D centers and manufacturing bases worldwide.

 

Sany Heavy Industry Co., Ltd. is known as “China’s largest and the world’s third-largest engineering machinery manufacturer.”

 

SANY’s new electric product portfolio is part of its sustainable solutions.

 

SANY’s e-truck portfolio consists of various battery-powered truck tractors, with SANY selling over 5,000 heavy-duty e-trucks in 2022. With significant investment in engineers and infrastructure in building the e-truck range, SANY aims to sell 80,000 annual units in China by 2025.

 

SANY Heavy Truck (a subsidiary of Sany Heavy Industry) manufactures a broad range of intelligent trucks powered by hydrogen fuel, fuel oil, or lithium batteries.

 

Based on industry-leading R&D and manufacturing expertise, SANY Heavy Truck launched new-energy products, including:

  • Battery swapping station
  • Diesel truck
  • Electric light truck
  • Electric truck
  • Hybrid truck
  • Hydrogen integration station
  • Hydrogen truck

 

Tesla, Inc.

Founded: 2003

Location: Austin, Texas, United States

 

Founded as “Tesla Motors” and named after the Serbian-American inventor “Nikola Tesla,” Tesla, Inc. (Tesla) is a globally recognized automotive and clean energy company with subsidiaries, including Tesla Automation and Tesla Energy.

 

Tesla designs and manufactures electric vehicles, battery energy storage systems, solar panels, solar roof tiles, and related products and services.

 

Tesla Semi

 

Tesla Semi is a fully loaded electric truck with excellent power at any speed and low cost of ownership.

 

Semi’s active safety features pair with advanced motor and brake controls to deliver stability and traction in all conditions.

 

Furthermore, an all-electric architecture reduces cabin intrusion and rollover risk in case of an accident.

 

Let’s look at the key specs of Tesla Semi (fully loaded at 82k lbs gross combination weight):

  • 0-60 mph – 20 seconds
  • Energy Consumption – Less than 2 kWh per mile
  • Fast charging – Up to 70% of range in 30 minutes
  • Fuel Savings (est.) – Up to USD 200,000 over 3 years
  • Mile Range – Up to 500 miles on a single charge
  • Powertrain – 3 independent motors on rear axles

 

Volvo Group (AB Volvo)

Founded: 1927

Location: Gothenburg, Sweden

 

Also known as “AB Volvo,” the Volvo Group (stylized as “VOLVO”) is one of the world’s leading automobile manufacturers serving customers in almost 190 markets.

 

The Volvo Group’s transport and infrastructure solutions include:

  • Buses
  • Cars
  • Construction equipment
  • Financing and services
  • Power solutions for marine and industrial applications
  • Trucks

 

With years of real-life experience, Volvo serves as a single point of contact for all electromobility needs. Volvo offers a variety of flexible and dependable trucks with attractive benefits, such as:

  • Digital fleet management
  • Environmental reports
  • Guidance on the best charging setup
  • Route planning

 

In addition to gas-powered Volvo trucks, the Volvo range of electric trucks includes:

 

  • Volvo FH Electric (helps move goods fast between logistic hubs and cities)
  • Volvo FM Electric (designed for managing large volumes between cities or delivering in busy urban environments)
  • Volvo FMX Electric (built for efficiency with a robust exterior)
  • Volvo FE Electric (ideal for light construction transports, waste collection, or making deliveries)
  • Volvo FL Electric (perfect for door-to-door city deliveries)
  • Volvo VNR Electric (built for local and regional deliveries with high demands on both drivability and payload)

 

Whether delivering in or between cities, Volvo provides an electric transport solution with zero exhaust emissions.

 

Electric Truck Developments

 

Let’s look at some recent developments in the electric truck space:

 

California Air Resources Board: According to an industry news source, the California Air Resources Board (CARB) approved a measure that requires “all new trucks sold in the state should be zero-emissions by 2045.”

 

Lordstown Motors Corporation: Lordstown Motors Corporation (LMC) is an EV automaker that offers a new type of EV truck—an all-electric work truck “designed smarter, safer, and more productive for work.”

 

Penske Truck Leasing: Penske Truck Leasing is a Penske Transportation Solutions company providing truck rentals for all moving truck needs—from a high-roof cargo van to a 26-foot truck.

 

Thomas Built Buses: Specially manufactured electric buses provide a quieter, smoother ride than fossil fuel-powered buses. For example, Thomas Built Buses, Inc. (a subsidiary of Daimler Trucks North America LLC) manufactures electric school buses with excellent operating range and advanced safety technology.

 

Workhorse Group: Workhorse Group is an OEM and technology company that provides all-electric work trucks and drones to the last-mile delivery sector.

 

Blackridge Research & Consulting – Global Electric Trucks Market Report

 

Blackridge Research & Consulting’ Global Electric Trucks Market report provides the most in-depth analysis of the electric truck market, including comprehensive segment analysis and regional analysis, with detailed profiles of countries under the following regions:

  • North America
  • South America
  • Europe
  • Asia-Pacific
  • Middle-East & Africa

 

In addition, the report provides deep insights into the competitive landscape, key company profiles, market drivers and restraints, regional trends influencing market demand and growth, and more.

 

You can buy the report directly or email us at sales@blackridgeresearch.com to purchase specific sections of the report.

 

Contact us to learn more about the introductory offer or instant savings on your purchases.

 

You can also reach out to us for custom research services and free report customization.

 

Furthermore, all report purchases come with up to 60 minutes of exclusive analyst access and post-purchase analyst support up to a year.

 

Wrapping Up

 

Globally, electric vehicles (such as electric freight trucks) are gaining popularity for providing several advantages, such as:

  • Cost savings
  • Energy efficiency
  • Environmental friendliness (lower carbon emissions)
  • Government incentives
  • Increased fuel security
  • Long-term viability
  • Quite operation
  • Reduced operating and transport costs

 

The global electric truck market is expected to witness steady growth in the coming years due to significant drivers, such as the need for decarbonizing road freight and the larger transport sector, increasing adoption of electric trucks in the commercial transportation sector, supportive policies, and technology advancements.

 

Electric truck companies provide a wide range of electric trucks designed to provide high performance and durability while minimizing noise and air pollution and carbon emissions.

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