A move towards emissions-free transportation in Europe's commercial vehicle sector
The transition to zero-emission vehicles (ZEVs) in Europe's trucking industry could pave the way for significant economic growth and job creation, according to various studies and proposals.
The SELECT Project, an organization dedicated to analysing the demand for energy and charging needed for the transition to ZEVs in Europe, predicts that ZEV adoption in the trucking industry could reach 55% by 2030 and an ambitious 77% by 2035. This shift, as proposed by Transport & Environment (T&E), could generate up to €32 billion in additional GDP and create 30,000 new jobs compared to 2022.
Preparing the charging infrastructure is a strategic lever in this transition. The growth of battery cell production, a key driver of the potential economic boon, makes localized production essential for long-term dominance in the European trucking industry. Bolstering domestic battery cell production is therefore a strategic lever in this transition.
The European Commission's baseline regulation calls for at least 49% ZEV adoption by 2035. T&E, however, has proposed a more ambitious target of 97% ZEV adoption by the same year. This ambitious goal could open the door for new foreign players to enter the market, but the study anticipates potential negative impacts on GDP and employment from non-European ZEV players. Nevertheless, the benefits of transitioning to ZEVs across the entire value chain are expected to outweigh these losses.
The shift from imported fossil fuels to domestically generated electricity is another key driver of the potential economic boon from a shift to ZEVs in the European trucking industry. Ensuring the affordability of renewable electricity is therefore a strategic lever in this transition.
The transition to ZEVs in the European trucking industry will lead to a redistribution of value and jobs, with traditional suppliers and OEMs pivoting away from internal combustion engine (ICE) components towards battery cells, electric drive systems, power electronics, and less labor-intensive module packaging. Reskilling the labor force to meet the demands of a changing industry is necessary in this transition.
The electrification of Europe's trucking industry presents a remarkable opportunity to align economic prosperity with climate ambitions. Readying charging infrastructure, bolstering domestic battery cell production, and reskilling the workforce are all crucial steps in this process. Strategic foresight, regulatory alignment, and a commitment to technological innovation are also essential in this transition.
In 2022, the European trucking industry contributed €75 billion to the region's GDP and supported 577,000 jobs. With the right strategies in place, this industry could continue to thrive while making a significant contribution to Europe's climate goals.
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