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New research comparing electric HGV and HGV total cost of ownership across Europe estimates that in every country analysed, eHGVs can become cheaper to own after just four years.
The research by SNAP, the digital solutions company for international mobility, highlights the long-term financial advantage and reveals where fleets are poised for the greatest cumulative savings by switching to electric.
The study found that despite higher initial purchase costs, the total cost of ownership for electric HGVs is £37,176 per year on average, compared with £94,416 for diesel - a difference of £57,241 (61%) less.
SNAP researchers modelled the five-year total cost of ownership for diesel and eHGVs across Europe, using official country-level data and consistent economic assumptions to determine when and where electric HGVs become the more cost-effective option.
Over five years, electricity costs for eHGVs average £127,096, compared with £396,754 for diesel, meaning electric trucks save £269,657 on energy alone, a 68% reduction. In that same time period, eHGV maintenance and repair costs average £51,371 versus £75,689 for diesel, a saving of £24,318, or 32%.
In the UK the research estimated that the savings would amount to £94,300 after five years, placing it in 14th place, compared to the other countries surveyed.
Revealing the results of the study, SNAP said: “The findings come as the haulage industry faces mounting pressure to cut emissions and operating costs.
“Fuel prices are unpredictable, and sustainability targets are tightening, with the European Commission’s ‘Fit for 55’ legislative package setting a goal of 45% emission reduction for almost all new HDVs by 2030.
“As a result, electric HGVs are emerging as a cost-effective and future-ready alternative to diesel fleets.”
The countries with the greatest savings on eHGVs after five years are:
1. Iceland €480,228
2. Switzerland €297,673
3. Netherlands €186,074
4. Italy €170,634
5. Portugal €158,714
6. Romania €150,539
7. Ireland €145,544
8. Norway €139,641
9. Spain €138,732
10. Finland €128,742
HGVs become cheaper to own after the third year of operation in 18% of countries surveyed. These are Italy, Portugal, Romania, Switzerland and Iceland.
Matthew Bellamy, SNAP MD, said that the findings highlight the importance of improved charging infrastructure for HGVs:
He said: “It’s exciting for the future of sustainable lorry travel that our research suggests electric fleets can reach cost parity or become cheaper than diesel HGVs within four to five years.
“However, to unlock the full potential of electric HGVs, we urgently need stronger charging networks across key European freight routes.
“Reliable, high-capacity infrastructure will be crucial to keep vehicles moving and give operators the confidence to invest in green fleets.
“Currently, fewer than 1% of fleets in most European countries are fully electric, meaning the potential cost advantages of electrification have yet to be realised on a meaningful scale.”
Researchers at SNAP modelled the five-year total cost of ownership of diesel and electric heavy goods vehicles (HGVs) across Europe using official country-level data on vehicle values, energy consumption, maintenance costs, and taxation.
The analysis applied consistent economic assumptions to simulate operating costs over time and identify where electrification delivers the greatest financial savings and in which year electric HGVs become cheaper to own per country.
SNAP’s research was guided by the modelling frameworks and assumptions developed through the Electric Freightway Project 2025 and Hitachi Zero Carbon initiatives.
