Volvo Trucks has announced it has received 486 orders for electric trucks in the first quarter of 2023, a 141% year on year increase.
The Swedish company has sold nearly 5,000 electric trucks in around 40 countries since launching its first electric truck in 2019. The majority of these sales have been in Europe and North America, but Volvo Trucks has also sold electric trucks in other countries such as Australia and Morocco. In the coming months, Volvo Trucks plans to expand its electric truck sales to South Africa, South Korea, India, and markets in Latin America.
While the forward order books is impressive, vehicle registrations are similarly showing an uptick as the manufacturing capability rises with the demand. In Europe alone, 600 of Volvo’s heavy-duty electric trucks (16t+) were registered in Q1 2023, an increase of more than four times on Q1 2022. The markets with the most electric truck registrations (including all brands) in the first quarter of 2023 were Germany, France, the Netherlands, and the US.
Volvo Trucks is continue to expand its electric truck range and plans to have electric trucks make up 50% of its global sales by 2030 and 100% by 2040. Currently, the company only offers battery-electric vehicles, but it recently tested a hydrogen FCEV based on the Volvo FH on Swedish roads for the first time, with series production set to start in the second half of this decade.
“Our commitment to sustainable transport is clearly paying off. We are determined to work closely together with our customers to decarbonize truck transport,” says Roger Alm, President of Volvo Trucks.