Duke Energy to Kick Tires on Plug-In Electric Pickup Truck
In November 2016, Duke Energy signed a letter of interest to buy up to 500 plug-in electric pickup trucks from the Workhorse Group by 2019. The trucks will run about 80 miles all electric and include a gasoline generator for extended range.
- While pickup trucks are the top-selling vehicle in the United States, no major auto maker currently offers an electric pickup truck
- Workhorse Group is building the pickup truck from the ground up and plans to start selling plug-in electric pickups to fleet managers in 2018
- The batteries will be capable of running equipment (e.g., electric tools, etc.) and can provide power back to the electric grid
- For fleet managers, plug-in electric pickup trucks are expected to lower fuel and maintenance costs while reducing emissions
- In 2014, Edison Electric Institute members pledged 5% of fleet-vehicle budgets to promote electric vehicle technology; pickup trucks account for about half of fleet vehicles managed by electric utilities
- Workhorse Group currently sells electric-powered delivery trucks to United Parcel Service and FedEx
- The company is also working on prototypes for the U.S. Postal Service and exploring opportunities with the cities of New York and Orlando
Moody’s Investor Services estimates that electric vehicles could account for two-thirds of load growth by 2030. Incorporating electric vehicles into fleet operations provides electric utilities an opportunity to learn operational best practices and, eventually, support customer adoption as a long-term load-growth strategy.
- WSJ: Utility Warms Up to Electric Vehicles
- Cincinnati Business Courier: Cincinnati Manufacturer’s Electric Pickup Truck Attracts Duke Energy Interest
This report is part of the Clean Tech & Sustainability Minute series. To view all featured Minutes, please click here.View More
Welcome to ScottMadden!
Sussex Economic Advisors is now part of ScottMadden. We invite you to learn more about our expanded firm. Please use the Contact Us form to request additional information.