Volvo Trucks leads the electric truck market in Europe

Rhea-AI Summary

Volvo Trucks has emerged as the market leader in heavy all-electric trucks in Europe, securing a 42% market share in 2021. The company received orders for over 1,100 electric trucks across more than 20 countries, contributing to a 193% increase in electric truck registrations in Europe compared to 2020. As part of its commitment to sustainability, Volvo aims for 50% of total truck sales to be electric by 2030. The heavy-duty models, including the Volvo FH, FM, and FMX, are expected to launch this fall, enhancing Volvo's robust electric lineup.

Positive

• 42% market share in heavy all-electric trucks in 2021.
• Received over 1,100 orders for electric trucks worldwide.
• 193% increase in electric truck registrations in Europe from 2020.
• Plans to achieve 50% electric truck sales by 2030.
• Introduces an extensive lineup of electric trucks this fall.

Negative

• None.

GOTHENBURG, Sweden, Feb. 16, 2022 /PRNewswire/ -- New statistics show that Volvo Trucks was the market leader for heavy all-electric trucks in Europe 2021 with a market share of 42%. In 2021 the company took orders, including letters of intent to buy, for more than 1,100 electric trucks worldwide.

The international trucking industry is undergoing a transformation towards more sustainable transport as sales of heavy battery electric trucks are starting to pick up, with Europe in the lead. An increasing number of heavy all-electric trucks are now running in commercial traffic.

Statistics from the market analysis group IHS Markit show that during 2021 a total of 346 electric trucks (≥16 tonnes) were registered in Europe – an increase of 193% from 2020. Volvo Trucks has the largest market share at 42%. The countries in Europe with the most electric trucks registered (≥16 tonnes) are Switzerland, Norway, Sweden and The Netherlands.*

"We are determined to drive the electric truck revolution and our market leading position in Europe is proof that we are doing just that. Even if volumes are still low, we see rapidly growing interest, both in Europe, North America and in other parts of the world. In 2021 we have taken orders, including letters of intent to buy, for more than 1,100 trucks in over 20 countries. I'm convinced it's becoming a key competitive advantage to offer electric, zero emission transports," says Roger Alm, President of Volvo Trucks.

Volvo Trucks started serial production of electric trucks in 2019, as one of the very first truck brands in the world to do so. When production of the heavy duty all-electric models Volvo FH, Volvo FM and Volvo FMX begins this fall, Volvo will have the most complete electric line up in the global truck industry. Volvo has delivered electric vehicles to a wide range of customers in Europe, North America and Australia. The company's target is that half of its total truck sales will be electric by 2030.

"Clearly, these numbers show that we're off to a very good start in sales. With the broader electric truck line up, it will be possible to electrify nearly half of heavy road transports. This proportion will grow even larger as the distance that electric trucks can drive increases and the charging infrastructure for heavy trucks becomes further developed," states Roger Alm.

*Source: IHS Markit, ihsmarkit.com. Europe excluding UK

IHS Markit statistics on the total number of registered trucks ( ≥16 tonnes) in Europe in 2021 excluding UK:

Country	Total market volume 2021
Switzerland	77
Norway	56
Sweden	47
Netherlands	42
Germany	37
France	25
Denmark	21
Spain	11
Italy	9
Hungary	7
Poland	4
Belgium	3
Czech Republic	2
Finland	2
Ireland	2
Austria	1
Total sum	346

For further information, please contact:

Jan Strandhede
Media Relations Director, Volvo Trucks
jan.strandhede@volvo.com
+46 31 3233715, +46 765 533715

LINK to high resolution images

Press images and films are available in the Volvo Trucks image and film gallery at http://images.volvotrucks.com.

Volvo Trucks supplies complete transport solutions for discerning professional customers with its full range of medium- and heavy-duty trucks. Customer support is provided via a global network of dealers with 2,200 service points in about 130 countries. Volvo trucks are assembled in 13 countries across the globe. In 2021 approximately 123,000 Volvo trucks were delivered worldwide. Volvo Trucks is part of the Volvo Group, one of the world's leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The group also provides complete solutions for financing and service. Volvo Trucks' work is based on the core values of quality, safety and environmental care.

This information was brought to you by Cision http://news.cision.com

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SOURCE AB Volvo

FAQ

What is Volvo Trucks' market share for electric trucks in Europe in 2021?

Volvo Trucks holds a 42% market share for heavy all-electric trucks in Europe in 2021.

How many electric truck orders did Volvo Trucks receive in 2021?

Volvo Trucks received orders for over 1,100 electric trucks worldwide in 2021.

What was the increase in electric truck registrations in Europe in 2021?

There was a 193% increase in electric truck registrations in Europe in 2021 compared to 2020.

What is Volvo Trucks' target for electric truck sales by 2030?

Volvo Trucks aims for 50% of its total truck sales to be electric by 2030.

Which electric truck models will be launched by Volvo Trucks this fall?

Volvo will launch the heavy-duty models Volvo FH, FM, and FMX this fall.