The commercial vehicle (CV) sector is poised for a notable year of growth and development in 2023, according to Neha Palmer, Chief Executive of fleet charging provider TeraWatt Infrastructure. The US-based company, which emerged from stealth in May 2021, designs and operates electric vehicle (EV) charging centres for fleet operations and recently secured more than US$1bn of institutional capital to support development and expansion. Palmer believes long-haul electric trucks are approaching cost parity with diesel faster than expected, and is convinced that fleet owners will convert in order to take advantage of the lower cost of ownership.
That carries significant implications for the charging sector. Over the coming years she anticipates a surge of private investment, the emergence of new fleet charging market entrants, and more utility partnerships focused on building the necessary charging infrastructure to support these electric trucks. “In just a few years, commercial charging hubs will be commonplace on America’s highways, making the long-haul transportation of goods without emissions a reality,” predicts Palmer. Speaking to Automotive World, she outlines the reasons for her confidence, and the potential obstacles to that vision.
