Volvo Trucks first to sell electric trucks in Korea
Volvo Trucks has started sales of heavy battery-electric trucks in South Korea and says it is the first global manufacturer to do so. Three electric models are now available for South Korean transport companies to order.
The first electric trucks to arrive are The FH Electric, the FM Electric and the FMX Electric. They are part of Volvo Trucks’ broad electric line-up with six electric heavy trucks. Since it started producing fully electric trucks in 2019, they sold more than 4,300 EVs in over 38 countries worldwide.
Now coming to South Korea, they thought the timing was “just right to start selling heavy electric trucks in South Korea,” said Per-Erik Lindström, SVP of Volvo Trucks International. He added Volvo Trucks had a 22% market share for heavy-duty trucks in the Asian country and therefore had “an important role to play to lower the transport sector’s CO2 emissions”.
The company lists use cases such as urban distribution and refuse disposal to regional transportation and construction traffic in South Korea. Similar to Europe, where most goods have to be hauled over routes no longer than 300 kilometres, the same is true for the new market. This means that most transports can be carried out with electric trucks that can be charged at the hauliers’ home depot.
“The situation is similar in most countries,” explains Per-Erik Lindström. “Large flows of goods are transported short distances where electric trucks work very well. So, when an expanded public network of charging stations is developed, even more transports can be electrified.”
South Korea passed a bill in autumn 2021 to reach carbon neutrality by 2050, including with electric transportation budgets. In 2022 alone, the state aimed to spend twelve trillion won ($10.3Bn) on e-mobility.
Globally, Volvo Trucks targets 50% of the new trucks it sells by 2030 to be electric. Volvo Group incorporated Volvo Trucks in 2012 alongside its other truck subsidiaries Renault Trucks and Mack Trucks.
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