Fleete TCO calculator explores the tipping point for electric HGV cost parity

Fleete, a fleet charging solutions provider, has launched a free open-source Total Cost of Ownership (TCO) calculator to help the industry explore how electric HGVs can achieve cost parity with diesel. 

The tool highlights the key drivers of TCO, from vehicle and energy costs to infrastructure and regulation, and is designed to drive informed discussion around the policy measures needed to accelerate large-scale electric HGV adoption. 

The model includes default data for both electric and diesel vehicles, while giving users the flexibility to adjust any variable, from energy prices and vehicle costs to depot or shared hub infrastructure, maintenance, taxation and policy incentives. 

It also features built-in scenarios that show how proposed policy changes and the impact of an internal/external carbon price can affect total cost of ownership for diesel and electric HGVs.  

Chris Morrison, chief executive officer at Fleete said: “While the business case for electric HGVs is improving, the UK faced the highest energy costs in the G7 last year and continues to lag behind parts of Europe where stricter emissions rules and stronger incentives, such as those in the Netherlands and Germany, are driving faster adoption. Our model shows how a few focused policy measures on electricity non-commodity costs, Vehicle Excise Duty and vehicle weights could help close - and ultimately improve on - the cost gap with diesel. 

“By making our TCO calculator free and open source, we want the industry to take it, test it and adapt it, helping to build a shared, evidence-based view of what it will take to bring TCO parity in the UK.” 

Fleete was established in 2022 by Macquarie Asset Management’s Green Investments team.

The Fleete Electric HGV TCO calculator is available to download free of charge from Fleete’s website.