17 August 2023
17 August 2023
First truck manufacturer to offer electrics
Luke Martin August 16 2023
Volvo Trucks has commenced sales of its heavy battery electric trucks in Malaysia with just two FMs for Swift Haulage.
Nonetheless, it's the first truck manufacturer to offer electrics there.
Swift Haulage CEO Loo Yong Hui said the company was converting the majority of its fleet to EVs by 2030.
Three Volvo EVs will be offered in the country.
The Global Light Vehicle (LV) selling rate rose for the fifth consecutive month in July, according to figures released by GlobalData.
To quadruple domestic battery capacity by 2028
To buy and use assets from General Motors India's Talegaon Plant
The deal hooks Ashok Leyland up in a synergy with an E-MaaS provider in commercial vehicles
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The global off-highway electric market is expected to grow at a CAGR of 17.4% by 2030, per GlobalData estimates. Despite the strong growth, high upfront costs may pose a challenge. Due to the high capacity of these vehicles, they consume large amounts of power from a number of battery packs installed on the vehicle, whose high cost in turn adds to the cost of the vehicle, thereby increasing the initial cost. However, governments worldwide are offering subsidies and tax exemptions in order to help customers to counter the initial purchase cost.
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