Equipment Finance News
  • News
  • Event
  • Data
  • Features
  • Lender Directory
  • PodcastNew
  • WebinarsNew
    • Next Webinar: Technologies to advance your equipment financing business
    • Webinar Library
Log In
No Result
View All Result
  • Dealers
  • Lenders
  • Transportation
  • Agriculture
  • Construction
  • Materials Handling
  • Rentals
  • Compliance
  • Data Analysis
Equipment Finance News
  • News
  • Event
  • Data
  • Features
  • Lender Directory
  • PodcastNew
  • WebinarsNew
    • Next Webinar: Technologies to advance your equipment financing business
    • Webinar Library
No Result
View All Result
Equipment Finance News
No Result
View All Result

Truck OEMs ‘still bullish’ on EV market despite setbacks

1 million more charging ports needed by 2030

Quinn DonoghuebyQuinn Donoghue
March 10, 2025
in Transportation
Reading Time: 4 mins read
0
Share on FacebookShare on LinkedIn

The EV truck market has lost steam under President Donald Trump, but OEMs are optimistic as they work to deliver practical solutions for fleet owners and meet sustainability goals.  

A federal rule finalized in March 2024 mandated increased production of zero-emission vehicles starting in model year 2027, with EVs possibly accounting for 60% of new medium- and light-duty truck sales by 2032 under the rule, according to the Institute of Energy Research.  

However, Trump’s efforts to remove EV mandates and incentives have cast uncertainty over the EV truck market in the United States, which had already been grappling with minimal adoption due to inadequate charging infrastructure and higher upfront costs.  

Despite this, OEMs are “still bullish” about the commercial EV market as they find best use cases to reduce total cost of ownership, Dave Sowers, director of operations at Ram Professional, told Equipment Finance News last week during Work Truck Week in Indianapolis. 

“We know there are still customers out there that desire to have zero emissions but also need to meet their cost of ownership goals,” he said. “And the van space is still a good space for that, because many of those vehicles operate in a defined geography and return to a central location at night. So, we’re not talking about interstate delivery or anything like that.” 

Even with short-haul transportation, which is generally more feasible for EVs, extending the range is crucial to higher adoption rates, Sowers said. Ram Pro plans to launch a charging solution with an onboard gas-powered generator this year to help eliminate inconvenient recharging during a job.  

“For a lot of commercial customers, it’s going to be ideal where they’re going to be able to conduct their daily business as an all-electric vehicle,” he said. “But when they have those occasional demands to travel further distances… they don’t have to worry about the range that happens there because the gas-power generator will kick in when necessary to recharge the battery and enable them to return to their terminal.” 

Targeting pockets of EV growth 

Seventeen states have adopted at least some of the California Air Resources Board’s emissions standards for light-duty vehicles, and 10 states have adopted mandates for heavy-duty vehicles, according to CARB’s website.  

Targeting states that are supporting the clean-energy transition is one way for EV makers to succeed during this period of minimal federal support, Jim Connelly, chief revenue officer at Oak Park, Mich.-based Bollinger Motors, told EFN at the event.  

“If you look at the states that have those goals, those are the ones that are pushing incentives,” he said.

“They have incentives that we are trying to target. … So, in the midst of some of this, there are positives on the state level. And then if you look at some of the large companies, regardless of what mandates and stuff are going out, they all have their own internal sustainability goals and targets that they want for their own company.” 

— Jim Connelly, chief revenue officer, Bollinger Motors

Forming utility partners 

There were more than 192,000 publicly available charging ports in the U.S. as of August, more than double the number that existed in January 2021, according to the Federal Highway Administration. Still, the U.S. needs roughly 1 million additional charging ports by 2030 to support EVs, according to the National Renewable Energy Laboratory. 

To keep the EV truck market afloat during Trump’s presidency, OEMs must form strong partnerships with the charging infrastructure providers, Jim Castelaz, founder and chief technology officer at Foster City, Calif.-based Motiv Electric Trucks, told EFN at the event. 

“I think the utility is always a key partner,” he said. “Involve them early if you’re going to deploy electric trucks, make sure you know what the infrastructure build is going to be and then as the OEM, keep us involved too. … That always needs to be a close partnership to establish the best practice between the charge station provider, the vehicle provider, and the fleet.” 

The third annual Equipment Finance Connect at the JW Marriott Nashville on May 14-15, 2025, is the only event for both equipment dealers and finance providers. Learn more and register here.   

Tags: electric vehiclesequipment financetransportationtrucking
Previous Post

Trimble names SMS Equipment its first tech outlet

Next Post

Traton Financial Services sales revenue spikes 22% 

Related Posts

Used International trucks manufactured by Navistar International sit on the lot of the company's used truck facility in Melrose Park, Illinois Wednesday, Aug. 15, 2001. The fourth-largest truckmaker reported fiscal third-quarter earnings fell 98 percent as a glut of used trucks and the effects of the slowing U.S. economy reduced demand. The Melrose Park lot, one of 15 company owned lots, has nearly 300 trucks in inventory.
Transportation

Tightened credit, tariffs spark high-mileage used-truck demand

July 2, 2025
American Truck Dealers names Gelb president
Transportation

Used medium-duty truck inventory soars 26%

June 25, 2025
All-New Mack Anthem Daycab - Dynamic Overdrive with Safety Rings in Reserve Blue
Transportation

Mack Trucks unveils truck for regional hauling

June 25, 2025
Next Post
Photo of TRATON building

Traton Financial Services sales revenue spikes 22% 

Proud Member Of

Check Out Our Industry Event

Stay Informed With Our 8 Newsletters

The Dig Podcast

Dealer Operations

A Tractor Retailer Ahead Of Caterpillar Earnings Figures

Cat dealer Finning appoints Primrose CFO

June 30, 2025
Equipment Finance News welcomes industry leaders for tech webinar

Equipment Finance News welcomes industry leaders for tech webinar

June 30, 2025
A worker operates a forklift to carry boxes through the warehouse of the Black & Decker Inc. DeWalt brand production plant in Charlotte, North Carolina, U.S., on Wednesday, Aug. 9, 2017. The U.S. Census Bureau is scheduled to release durable goods figures on August 25.

Durable goods orders spike 16.4%, biggest jump since 2014

June 26, 2025
  • About Us
  • Advertise
  • Contact Us
  • Privacy Terms
  • ADA Compliance

 Manage Cookie Consent

Connect with us

© 2025 Royal MediaRoyal Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • All News
    • Dealers
    • Lenders
    • Transportation
    • Agriculture
    • Construction
    • Material Handling
    • Rentals
    • Compliance
    • Data Analysis
  • Event
  • Data
  • Features
  • Lender Directory
  • Podcast
  • Webinars
    • Webinar Library

© 2025 Royal MediaRoyal Media

THIS WEBSITE USES COOKIES

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I CONSENT”, you consent to the use of ALL the cookies.

Cookie settingsI CONSENT

Review our Cookie Policies
.
Manage Cookie Consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
Save & Accept