
視頻畫(huà)面平實(shí)、狹窄,、不停地抖動(dòng)著,,沒(méi)有炫耀的意味,而且最開(kāi)始捕捉到的圖像基本上都是瀝青,。但借助這個(gè)時(shí)長(zhǎng)14分鐘的視頻,,位于菲尼克斯的初創(chuàng)企業(yè)、電動(dòng)半掛卡車(chē)制造商N(yùn)ikola Motor的創(chuàng)始人兼執(zhí)行董事長(zhǎng)特雷弗·米爾頓讓投資者感到興奮不已,,公司的股價(jià)也因此在單日內(nèi)飆升了35%,。
這段視頻展現(xiàn)的是在亞利桑那州酷熱的停車(chē)場(chǎng)上行進(jìn)的氫燃料電動(dòng)半掛卡車(chē)。米爾頓緩慢地跑著,,跟在卡車(chē)后面,,并介紹著其不同尋常的動(dòng)力系統(tǒng)的各個(gè)組件,同時(shí)也在有力地回?fù)糁切┱J(rèn)為其公司存在技術(shù)造假的評(píng)論者,。
他邊喘氣邊說(shuō):“這些該死的水軍,。我不知道他們是否會(huì)為其散播的謊言向所有人道歉?!?/p>
Nikola創(chuàng)建于2014年,,公司名稱(chēng)取自于19世紀(jì)知名的發(fā)明家特斯拉(剛好與頗具爭(zhēng)議的另一款電動(dòng)汽車(chē)如出一轍),。盡管Nikola還未向客戶(hù)交付過(guò)任何整車(chē),更何況是評(píng)論人士,,但投資者卻給出了高達(dá)200億美元的估值。
似乎科技界對(duì)卡車(chē)越來(lái)越感興趣,。企業(yè)家及其背后的投資者們堅(jiān)信,,用更加清潔的電動(dòng)卡車(chē)取代排放溫室氣體的柴油半掛卡車(chē)是一個(gè)巨大的賺錢(qián)商機(jī),同時(shí)也能讓世界變得更加美好,。
Baird公司專(zhuān)注于物流領(lǐng)域的股票分析師本·哈特福德說(shuō):“這個(gè)領(lǐng)域存在大量的炒作和興奮度,。”
美國(guó)卡車(chē)運(yùn)輸協(xié)會(huì)總是說(shuō),,卡車(chē)行業(yè)是美國(guó)經(jīng)濟(jì)的生命線(xiàn),,這一點(diǎn)不無(wú)道理??ㄜ?chē)的貨運(yùn)量占美國(guó)貨運(yùn)總量的73%,。但大部分卡車(chē)依然在使用化石燃料。美國(guó)環(huán)保局稱(chēng),,中型和重型卡車(chē)的溫室氣體排放量占到了美國(guó)排放總量的6.4%,。
為了削減卡車(chē)行業(yè)的排放量,卡車(chē)運(yùn)營(yíng)商需要耗費(fèi)大量的金錢(qián)購(gòu)買(mǎi)污染更低的卡車(chē),。強(qiáng)有力的背后推手來(lái)了:今年6月,,加州的一項(xiàng)新規(guī)要求,從2024年開(kāi)始,,該州至少應(yīng)該有5%的在售中型,、重型卡車(chē)實(shí)現(xiàn)零排放。(這一比重在2030年將達(dá)到30%,,2045年達(dá)到100%,。穿梭于港口、鐵路站場(chǎng)和倉(cāng)庫(kù)之間的短途貨運(yùn)卡車(chē)可能會(huì)面臨更為激進(jìn)的時(shí)間表,。)鑒于加州在這一領(lǐng)域的獨(dú)特影響力——有12個(gè)州已經(jīng)采取了加州的機(jī)動(dòng)車(chē)排放法規(guī)——卡車(chē)運(yùn)營(yíng)商很快就會(huì)感到新政的壓力,。
法規(guī)并非是電動(dòng)化的唯一推手。埃隆·馬斯克的特斯拉公司曾經(jīng)承諾在2021年交付其自有的電動(dòng)半掛卡車(chē),,公司稱(chēng)電池作為動(dòng)力的電動(dòng)卡車(chē)的每英里成本大約只有柴油卡車(chē)每英里油耗成本的一半,。電動(dòng)卡車(chē)的維護(hù)成本也應(yīng)該更低,因?yàn)槠溥\(yùn)轉(zhuǎn)部件更少,。
這些卡車(chē)新貴們面臨著來(lái)自于知名卡車(chē)制造商的嚴(yán)峻挑戰(zhàn),。全球銷(xiāo)售額最大的汽車(chē)制造商豐田以及帕卡的彼得比爾特(排名第二的半掛卡車(chē)制造商,僅次于戴姆勒的弗萊特萊納)已經(jīng)公開(kāi)承諾在未來(lái)打造零排放卡車(chē),。雷諾已經(jīng)在歐洲生產(chǎn)中型電池驅(qū)動(dòng)卡車(chē),。在美國(guó),,沃爾沃和弗萊特萊納已經(jīng)有數(shù)十輛電動(dòng)卡車(chē)正在進(jìn)行路測(cè)。與Nikola和特斯拉一樣,,其目標(biāo)是在明年開(kāi)始銷(xiāo)售電動(dòng)卡車(chē),。
沃爾沃商業(yè)發(fā)展總監(jiān)凱斯·布蘭迪斯稱(chēng):“這些卡車(chē)如何與車(chē)隊(duì)進(jìn)行整合?怎么充電,?我們正在努力解決這些實(shí)際問(wèn)題,。”
近一年來(lái),,作為試點(diǎn)計(jì)劃的一部分,,卡車(chē)運(yùn)輸和倉(cāng)儲(chǔ)業(yè)務(wù)中等規(guī)模運(yùn)營(yíng)商N(yùn)FI Logistics一直在加州經(jīng)營(yíng)著10輛弗萊特萊納電動(dòng)卡車(chē)。NFI很快將增加來(lái)自于沃爾沃Lights項(xiàng)目的卡車(chē),,該項(xiàng)目于6月部署了第一批測(cè)試卡車(chē),。NFI車(chē)隊(duì)服務(wù)負(fù)責(zé)人比爾·布里姆稱(chēng),其公司在引領(lǐng)電動(dòng)卡車(chē)充電領(lǐng)域最大的動(dòng)力源于其對(duì)可持續(xù)發(fā)展性的關(guān)注,,但同時(shí)也承認(rèn)競(jìng)爭(zhēng)力亦是其中的一個(gè)因素,。
布里姆說(shuō):“我們希望電池價(jià)格會(huì)有所下降,續(xù)航能有所增加,。一旦這一點(diǎn)得以實(shí)現(xiàn),,我們認(rèn)為電動(dòng)卡車(chē)的運(yùn)營(yíng)將迎來(lái)成本優(yōu)勢(shì)?!?/p>
在當(dāng)前模式下,,電動(dòng)卡車(chē)存在一個(gè)重大的缺陷:其續(xù)航不如柴油卡車(chē)。例如,,特斯拉稱(chēng)其最大續(xù)航車(chē)型在單次充電后可以跑約800公里,,而加滿(mǎn)油的柴油卡車(chē)能夠跑約1300公里。
因此卡車(chē)的電動(dòng)化首先會(huì)出現(xiàn)在短途運(yùn)輸卡車(chē)上,。NFI將使用其弗萊特萊納測(cè)試版卡車(chē)把貨物從洛杉磯和長(zhǎng)灘港口運(yùn)到其洛杉磯東部的倉(cāng)庫(kù),,往返距離約160公里。
我們并不清楚氫電池卡車(chē)的成本優(yōu)勢(shì),,例如米爾頓視頻中的Nikola Two車(chē)型,。再次補(bǔ)充液態(tài)氫比充電更快,而且同等重量的氫氣釋放的能量比電池更多,,更適合長(zhǎng)途卡車(chē)運(yùn)輸,。然而,液態(tài)氫燃料來(lái)自于電解水得到的氫氣和氧氣,,其成本通常比對(duì)電池直接充電更高,。
說(shuō)到高額成本:幾乎所有人都認(rèn)為電動(dòng)卡車(chē)的成本要高于柴油半掛卡車(chē),后者的造價(jià)可高達(dá)15萬(wàn)美元,。到目前為止,,特斯拉是唯一透露其定價(jià)的廠商,,公司稱(chēng)其電動(dòng)卡車(chē)的起步價(jià)在15萬(wàn)美元到20萬(wàn)美元之間。其他制造商的價(jià)格可能會(huì)更高,,因?yàn)闃I(yè)界認(rèn)為特斯拉制造電池的成本要低于其競(jìng)爭(zhēng)對(duì)手,。
Nikola計(jì)劃為其氫燃料半掛卡車(chē)開(kāi)發(fā)不同的商業(yè)模式。公司并不打算銷(xiāo)售卡車(chē),,而是以套餐的形式出租,,其中包括氫燃料和維護(hù)。
此外還有修建新充電站的成本,,這一點(diǎn)十分必要,,因?yàn)榇笮涂ㄜ?chē)電池的充電可能需要花費(fèi)數(shù)個(gè)小時(shí)的時(shí)間,。不過(guò)有一些州,,例如加州,會(huì)提供一些撥款來(lái)緩沖由此造成的財(cái)務(wù)沖擊,,但其他州并不提供這類(lèi)資金,。布里姆說(shuō):“我們有客戶(hù)希望我們?cè)跂|北部地區(qū)采用電動(dòng)汽車(chē)。不過(guò)不幸的是,,該地區(qū)的州目前并不提供此類(lèi)資金,,哪怕是運(yùn)營(yíng)一輛電動(dòng)拖拉機(jī)都做不到,當(dāng)然前提是你能弄到一臺(tái)電動(dòng)拖拉機(jī),?!?/p>
這對(duì)于很多運(yùn)營(yíng)商來(lái)說(shuō)都是無(wú)法接受的。在美國(guó)大約190萬(wàn)家卡車(chē)公司中,,其中有高達(dá)94%擁有20輛或不足20輛規(guī)模的卡車(chē)車(chē)隊(duì),。此外,有9%的卡車(chē)運(yùn)營(yíng)商都是個(gè)體經(jīng)營(yíng)者,,也就是自己開(kāi)自己買(mǎi)的卡車(chē),。美國(guó)卡車(chē)運(yùn)輸協(xié)會(huì)負(fù)責(zé)能源與環(huán)保政策問(wèn)題的格蘭·科德茲說(shuō),小型經(jīng)營(yíng)者沒(méi)有能力承擔(dān)實(shí)現(xiàn)電動(dòng)化所需的大規(guī)模投資,。
盡管卡車(chē)運(yùn)營(yíng)商在被迫放棄柴油卡車(chē)之前還有數(shù)年的時(shí)間,,但電動(dòng)化的市場(chǎng)趨勢(shì)已經(jīng)開(kāi)始顯現(xiàn)。Baird的哈特福德說(shuō):“人們已經(jīng)開(kāi)始針對(duì)那些超小型運(yùn)營(yíng)商提升了準(zhǔn)入門(mén)檻,?!毕乱徊剑核槠袠I(yè)的整合。
除非你的初創(chuàng)企業(yè)不打算顛覆市場(chǎng),。Nikola的米爾頓稱(chēng),,他對(duì)外界對(duì)其公司機(jī)遇的懷疑表示理解,但也指出,,各大汽車(chē)制造商在早期亦對(duì)特斯拉持有同樣的態(tài)度,。他說(shuō):“如今特斯拉的市值已經(jīng)超過(guò)了大多數(shù)汽車(chē)制造商的合并市值總額,。我們并不介意做一匹黑馬?!保ㄘ?cái)富中文網(wǎng))
數(shù)字說(shuō)話(huà)
2020年4月美國(guó)8類(lèi)(半掛卡車(chē))卡車(chē)銷(xiāo)量占比
戴姆勒:38.1%
帕卡: 30.4%
沃爾沃:15.9%
注釋?zhuān)捍髂防盏目ㄜ?chē)品牌包括弗萊特萊納和西星,;帕卡旗下包括肯沃斯和彼得比爾特;沃爾沃旗下包括沃爾沃和Mack,。來(lái)源:Ward’s
本文另一版本刊載于《財(cái)富》雜志2020年8/9月刊,。
譯者:Feb
視頻畫(huà)面平實(shí)、狹窄,、不停地抖動(dòng)著,,沒(méi)有炫耀的意味,而且最開(kāi)始捕捉到的圖像基本上都是瀝青,。但借助這個(gè)時(shí)長(zhǎng)14分鐘的視頻,,位于菲尼克斯的初創(chuàng)企業(yè)、電動(dòng)半掛卡車(chē)制造商N(yùn)ikola Motor的創(chuàng)始人兼執(zhí)行董事長(zhǎng)特雷弗·米爾頓讓投資者感到興奮不已,,公司的股價(jià)也因此在單日內(nèi)飆升了35%,。
這段視頻展現(xiàn)的是在亞利桑那州酷熱的停車(chē)場(chǎng)上行進(jìn)的氫燃料電動(dòng)半掛卡車(chē)。米爾頓緩慢地跑著,,跟在卡車(chē)后面,,并介紹著其不同尋常的動(dòng)力系統(tǒng)的各個(gè)組件,同時(shí)也在有力地回?fù)糁切┱J(rèn)為其公司存在技術(shù)造假的評(píng)論者,。
他邊喘氣邊說(shuō):“這些該死的水軍,。我不知道他們是否會(huì)為其散播的謊言向所有人道歉?!?/p>
Nikola創(chuàng)建于2014年,,公司名稱(chēng)取自于19世紀(jì)知名的發(fā)明家特斯拉(剛好與頗具爭(zhēng)議的另一款電動(dòng)汽車(chē)如出一轍)。盡管Nikola還未向客戶(hù)交付過(guò)任何整車(chē),,更何況是評(píng)論人士,,但投資者卻給出了高達(dá)20億美元的估值。
似乎科技界對(duì)卡車(chē)越來(lái)越感興趣,。企業(yè)家及其背后的投資者們堅(jiān)信,,用更加清潔的電動(dòng)卡車(chē)取代排放溫室氣體的柴油半掛卡車(chē)是一個(gè)巨大的賺錢(qián)商機(jī),同時(shí)也能讓世界變得更加美好,。
Baird公司專(zhuān)注于物流領(lǐng)域的股票分析師本·哈特福德說(shuō):“這個(gè)領(lǐng)域存在大量的炒作和興奮度,。”
美國(guó)卡車(chē)運(yùn)輸協(xié)會(huì)總是說(shuō),,卡車(chē)行業(yè)是美國(guó)經(jīng)濟(jì)的生命線(xiàn),,這一點(diǎn)不無(wú)道理。卡車(chē)的貨運(yùn)量占美國(guó)貨運(yùn)總量的73%,。但大部分卡車(chē)依然在使用化石燃料,。美國(guó)環(huán)保局稱(chēng),中型和重型卡車(chē)的溫室氣體排放量占到了美國(guó)排放總量的6.4%,。
為了削減卡車(chē)行業(yè)的排放量,,卡車(chē)運(yùn)營(yíng)商需要耗費(fèi)大量的金錢(qián)購(gòu)買(mǎi)污染更低的卡車(chē)。強(qiáng)有力的背后推手來(lái)了:今年6月,,加州的一項(xiàng)新規(guī)要求,,從2024年開(kāi)始,該州至少應(yīng)該有5%的在售中型,、重型卡車(chē)實(shí)現(xiàn)零排放,。(這一比重在2030年將達(dá)到30%,2045年達(dá)到100%,。穿梭于港口,、鐵路站場(chǎng)和倉(cāng)庫(kù)之間的短途貨運(yùn)卡車(chē)可能會(huì)面臨更為激進(jìn)的時(shí)間表。)鑒于加州在這一領(lǐng)域的獨(dú)特影響力——有12個(gè)州已經(jīng)采取了加州的機(jī)動(dòng)車(chē)排放法規(guī)——卡車(chē)運(yùn)營(yíng)商很快就會(huì)感到新政的壓力,。
法規(guī)并非是電動(dòng)化的唯一推手,。埃隆·馬斯克的特斯拉公司曾經(jīng)承諾在2021年交付其自有的電動(dòng)半掛卡車(chē),,公司稱(chēng)電池作為動(dòng)力的電動(dòng)卡車(chē)的每英里成本大約只有柴油卡車(chē)每英里油耗成本的一半,。電動(dòng)卡車(chē)的維護(hù)成本也應(yīng)該更低,因?yàn)槠溥\(yùn)轉(zhuǎn)部件更少,。
這些卡車(chē)新貴們面臨著來(lái)自于知名卡車(chē)制造商的嚴(yán)峻挑戰(zhàn),。全球銷(xiāo)售額最大的汽車(chē)制造商豐田以及帕卡的彼得比爾特(排名第二的半掛卡車(chē)制造商,僅次于戴姆勒的弗萊特萊納)已經(jīng)公開(kāi)承諾在未來(lái)打造零排放卡車(chē),。雷諾已經(jīng)在歐洲生產(chǎn)中型電池驅(qū)動(dòng)卡車(chē),。在美國(guó),沃爾沃和弗萊特萊納已經(jīng)有數(shù)十輛電動(dòng)卡車(chē)正在進(jìn)行路測(cè),。與Nikola和特斯拉一樣,,其目標(biāo)是在明年開(kāi)始銷(xiāo)售電動(dòng)卡車(chē)。
沃爾沃商業(yè)發(fā)展總監(jiān)凱斯·布蘭迪斯稱(chēng):“這些卡車(chē)如何與車(chē)隊(duì)進(jìn)行整合,?怎么充電,?我們正在努力解決這些實(shí)際問(wèn)題?!?/p>
近一年來(lái),,作為試點(diǎn)計(jì)劃的一部分,卡車(chē)運(yùn)輸和倉(cāng)儲(chǔ)業(yè)務(wù)中等規(guī)模運(yùn)營(yíng)商N(yùn)FI Logistics一直在加州經(jīng)營(yíng)著10輛弗萊特萊納電動(dòng)卡車(chē),。NFI很快將增加來(lái)自于沃爾沃Lights項(xiàng)目的卡車(chē),,該項(xiàng)目于6月部署了第一批測(cè)試卡車(chē)。NFI車(chē)隊(duì)服務(wù)負(fù)責(zé)人比爾·布里姆稱(chēng),其公司在引領(lǐng)電動(dòng)卡車(chē)充電領(lǐng)域最大的動(dòng)力源于其對(duì)可持續(xù)發(fā)展性的關(guān)注,,但同時(shí)也承認(rèn)競(jìng)爭(zhēng)力亦是其中的一個(gè)因素,。
布里姆說(shuō):“我們希望電池價(jià)格會(huì)有所下降,續(xù)航能有所增加,。一旦這一點(diǎn)得以實(shí)現(xiàn),,我們認(rèn)為電動(dòng)卡車(chē)的運(yùn)營(yíng)將迎來(lái)成本優(yōu)勢(shì)?!?/p>
在當(dāng)前模式下,,電動(dòng)卡車(chē)存在一個(gè)重大的缺陷:其續(xù)航不如柴油卡車(chē)。例如,,特斯拉稱(chēng)其最大續(xù)航車(chē)型在單次充電后可以跑約800公里,,而加滿(mǎn)油的柴油卡車(chē)能夠跑約1300公里。
因此卡車(chē)的電動(dòng)化首先會(huì)出現(xiàn)在短途運(yùn)輸卡車(chē)上,。NFI將使用其弗萊特萊納測(cè)試版卡車(chē)把貨物從洛杉磯和長(zhǎng)灘港口運(yùn)到其洛杉磯東部的倉(cāng)庫(kù),,往返距離約160公里。
我們并不清楚氫電池卡車(chē)的成本優(yōu)勢(shì),,例如米爾頓視頻中的Nikola Two車(chē)型,。再次補(bǔ)充液態(tài)氫比充電更快,而且同等重量的氫氣釋放的能量比電池更多,,更適合長(zhǎng)途卡車(chē)運(yùn)輸,。然而,液態(tài)氫燃料來(lái)自于電解水得到的氫氣和氧氣,,其成本通常比對(duì)電池直接充電更高,。
說(shuō)到高額成本:幾乎所有人都認(rèn)為電動(dòng)卡車(chē)的成本要高于柴油半掛卡車(chē),后者的造價(jià)可高達(dá)15萬(wàn)美元,。到目前為止,,特斯拉是唯一透露其定價(jià)的廠商,公司稱(chēng)其電動(dòng)卡車(chē)的起步價(jià)在15萬(wàn)美元到20萬(wàn)美元之間,。其他制造商的價(jià)格可能會(huì)更高,,因?yàn)闃I(yè)界認(rèn)為特斯拉制造電池的成本要低于其競(jìng)爭(zhēng)對(duì)手。
Nikola計(jì)劃為其氫燃料半掛卡車(chē)開(kāi)發(fā)不同的商業(yè)模式,。公司并不打算銷(xiāo)售卡車(chē),,而是以套餐的形式出租,其中包括氫燃料和維護(hù),。
此外還有修建新充電站的成本,,這一點(diǎn)十分必要,因?yàn)榇笮涂ㄜ?chē)電池的充電可能需要花費(fèi)數(shù)個(gè)小時(shí)的時(shí)間,。不過(guò)有一些州,,例如加州,會(huì)提供一些撥款來(lái)緩沖由此造成的財(cái)務(wù)沖擊,但其他州并不提供這類(lèi)資金,。布里姆說(shuō):“我們有客戶(hù)希望我們?cè)跂|北部地區(qū)采用電動(dòng)汽車(chē),。不過(guò)不幸的是,該地區(qū)的州目前并不提供此類(lèi)資金,,哪怕是運(yùn)營(yíng)一輛電動(dòng)拖拉機(jī)都做不到,,當(dāng)然前提是你能弄到一臺(tái)電動(dòng)拖拉機(jī)?!?/p>
這對(duì)于很多運(yùn)營(yíng)商來(lái)說(shuō)都是無(wú)法接受的,。在美國(guó)大約190萬(wàn)家卡車(chē)公司中,其中有高達(dá)94%擁有20輛或不足20輛規(guī)模的卡車(chē)車(chē)隊(duì),。此外,,有9%的卡車(chē)運(yùn)營(yíng)商都是個(gè)體經(jīng)營(yíng)者,也就是自己開(kāi)自己買(mǎi)的卡車(chē),。美國(guó)卡車(chē)運(yùn)輸協(xié)會(huì)負(fù)責(zé)能源與環(huán)保政策問(wèn)題的格蘭·科德茲說(shuō),,小型經(jīng)營(yíng)者沒(méi)有能力承擔(dān)實(shí)現(xiàn)電動(dòng)化所需的大規(guī)模投資。
盡管卡車(chē)運(yùn)營(yíng)商在被迫放棄柴油卡車(chē)之前還有數(shù)年的時(shí)間,,但電動(dòng)化的市場(chǎng)趨勢(shì)已經(jīng)開(kāi)始顯現(xiàn),。Baird的哈特福德說(shuō):“人們已經(jīng)開(kāi)始針對(duì)那些超小型運(yùn)營(yíng)商提升了準(zhǔn)入門(mén)檻?!毕乱徊剑核槠袠I(yè)的整合,。
除非你的初創(chuàng)企業(yè)不打算顛覆市場(chǎng)。Nikola的米爾頓稱(chēng),,他對(duì)外界對(duì)其公司機(jī)遇的懷疑表示理解,,但也指出,,各大汽車(chē)制造商在早期亦對(duì)特斯拉持有同樣的態(tài)度,。他說(shuō):“如今特斯拉的市值已經(jīng)超過(guò)了大多數(shù)汽車(chē)制造商的合并市值總額。我們并不介意做一匹黑馬,?!保ㄘ?cái)富中文網(wǎng))
數(shù)字說(shuō)話(huà)
2020年4月美國(guó)8類(lèi)(半掛卡車(chē))卡車(chē)銷(xiāo)量占比
戴姆勒:38.1%
帕卡: 30.4%
沃爾沃:15.9%
注釋?zhuān)捍髂防盏目ㄜ?chē)品牌包括弗萊特萊納和西星;帕卡旗下包括肯沃斯和彼得比爾特,;沃爾沃旗下包括沃爾沃和Mack,。來(lái)源:Ward’s
本文另一版本刊載于《財(cái)富》雜志2020年8/9月刊。
譯者:Feb
The video was candid, narrow, shaky, and without fanfare—its first frames capturing not much more than asphalt. But in the span of 14 minutes, Trevor Milton, the founder and executive chairman of Nikola Motor, a Phoenix startup committed to making electric semitrucks, energized investors enough to send his company’s stock up 35% in a single day.
The clip reveals a hydrogen fuel-cell electric semi rolling around a blisteringly hot Arizona parking lot. Milton jogs after the truck on foot, pointing out the various components of its unusual powertrain and swiping at critics who believe the company’s technology is fake.
“These damn trolls,” he says between gulps of air. “I wonder if they’re going to go apologize to everyone for the lies they spread.”
Founded in 2014, Nikola is named after famed 19th-century inventor Tesla (just like that other controversial electric-vehicle concern). Though Nikola has yet to deliver a single truck to a customer—hence the critics—investors have valued the company at as much as $20 billion.
The tech world, it seems, has a growing fascination with trucking. Entrepreneurs, and the investors backing them, are convinced that replacing greenhouse gas–spewing diesel semis with cleaner electric versions is a huge opportunity to make a profit while also making the world a better place.
“There’s a lot of hype and excitement,” says Ben Hartford, a Baird equities analyst focused on logistics.
The American Trucking Associations like to say that the industry is the lifeblood of the U.S. economy, and they have a point. Freight trucks carry nearly 73% of all cargo transported in the U.S. But those vehicles are still overwhelmingly powered by fossil fuels. Medium- and heavy-duty trucks account for about 6.4% of all U.S. greenhouse gas emissions, according to the U.S. Environmental Protection Agency.
To cut their contribution, truck operators would need to spend lots of money on less polluting trucks. A firm nudge came in June with a new California regulation requiring that, beginning in 2024, at least 5% of medium- and heavy-duty trucks sold in the state produce zero emissions. (The share jumps to 30% in 2030, then 100% by 2045. Short-haul trucks, used to deliver cargo between ports, rail yards, and warehouses, are subject to an even more aggressive timetable.) Since the state is uniquely influential in this area—a dozen states have adopted California’s motor vehicle emission regulations—pressure could quickly build for truck operators.
Regulation isn’t the only factor driving electrification. Elon Musk’s Tesla, which has promised to deliver its own electric semi in 2021, says a battery-electric truck costs about half as much to fuel per mile as its diesel counterpart. Maintenance costs for electric trucks are also expected to be lower because they have fewer moving parts.
The upstarts face a stiff challenge from established truckmakers. Toyota, the world’s largest automaker by sales, and Paccar’s Peterbilt, the No. 2 semi manufacturer behind Daimler-owned Freightliner, have publicly committed to a zero-emissions trucking future. Renault already produces medium-duty battery-electric trucks in Europe. In the U.S., Volvo and Freightliner have put dozens of electric trucks on the road for testing. Like Nikola and Tesla, the goal is to start selling them next year.
“How does it integrate into a fleet? How does the charging work? We’re trying to figure out the practical things,” says Keith Brandis, a Volvo business development executive.
Midsize trucking and warehouse operator NFI Logistics has been operating 10 Freightliner electric trucks in California for nearly a year as part of a pilot program. NFI will soon add trucks from Volvo’s program, dubbed Lights, which deployed its first test trucks in June. Bill Bliem, head of fleet services at NFI, says his company’s top motivator in leading the electric-trucking charge is its commitment to sustainability. But he admits competitiveness is also a factor.
“We’re hoping that battery pricing will come down and range will increase,” says Bliem. “Once that happens, we think there will be a cost benefit to running electric.”
In their present form, electric trucks have a key shortcoming: limited range versus their diesel counterparts. Tesla, for example, says its top-range model will go 500 miles on a single charge, compared with 800 miles for a diesel truck on one tank of fuel.
So electrification is happening first on short-haul routes. NFI is using its Freightliner test trucks to deliver cargo from the ports of Los Angeles and Long Beach to its warehouses east of L.A., a 100-mile roundtrip.
The cost advantage for hydrogen-electric trucks, like the Nikola Two model in Milton’s video, is less clear. Refueling with liquid hydrogen is quicker than recharging a battery, and hydrogen can carry more energy for its weight than a battery—more practical for long-haul trucking. But liquid hydrogen fuel, which is produced by using electricity to split water into oxygen and hydrogen, is generally more expensive than charging batteries directly.
Speaking of expensive: Nearly everyone agrees that electric trucks will cost more than diesel semis, which can go for as much as $150,000. So far Tesla is the only manufacturer to have hinted at pricing, saying its electric trucks will start at between $150,000 and $200,000. Other manufacturers are expected to charge more because Tesla is believed to be producing batteries for less than its competitors.
Nikola plans to use a different business model for its hydrogen fuel-cell semis. Instead of selling trucks, it plans to lease them as part of a package that includes hydrogen fueling and maintenance.
And then there’s the cost of building new charging stations—necessary when it can take several hours to recharge a large truck battery. While some states, e.g., California, offer grants to soften the financial blow, others do not. “We’ve got customers that want us to run electric in the Northeast,” Bliem says. “But unfortunately those states right now do not have the funding where it would make sense to run even one electric tractor—if you could get one.”
That’s a dealbreaker for many operators. Of an estimated 1.9 million U.S. trucking firms, as many as 94% have fleets of 20 trucks or fewer. Moreover, roughly 9% of all truckers are independent owner-operators who drive a truck they own. Smaller operators just can’t afford the sizable investments it would take to go electric, says Glen Kedzie, who leads energy and environmental policy issues at the American Trucking Associations.
Though operators have years before they’re forced to give up diesel trucks, the market dynamics of electrification are already falling into place. “You start to raise the barriers to entry for the smallest carrier,” says Baird’s Hartford. Next stop: consolidation of a fragmented industry.
Provided your startup isn’t trying to upend it, that is. Nikola’s Milton says he understands the skepticism about his company’s chances but points out that carmakers said the same thing about Tesla early on. “Now Tesla is worth more than most of them combined,” he says. “We don’t mind being the underdog.”
By the numbers
April 2020 Class 8 (semi) U.S. sales
Daimler: 38.1%
Paccar: 30.4%
Volvo: 15.9%
Navistar: 15.5%
Navistar:15.5%
Notes: Daimler makes the Freightliner and Western Star brands; Paccar, Kenworth and Peterbilt; and Volvo, Volvo and Mack. Source: Ward's
A version of this article appears in the August/September 2020 issue of Fortune magazine.