Volvo Trucks and Busses is building a monumental lead over its competitors over in Europe. The Swedish brand is making big waves with its electric big rigs after securing a 42 percent market share in the electric segment in Europe. The brand was able to account for 1,100 electric truck units worldwide.
We’ve said it before, and we’re saying it once more, the electric revolution is incoming, and there are a lot of companies and drivers that are already hopping on the trend. Statistics from the IHS Markit show that 2021 showed a total of 346 electric trucks ( less than or equal to 16 tons) were registered in Europe. This number indicates an increase of 193 percent from 2020, and Volvo Trucks is leading the charge with a now 42 percent market share in the segment.
The result was likely achieved due to Volvo’s close proximity to the countries that’ve registered the most trucks, namely Norway, Switzerland, Sweden, and the Netherlands.
"We are determined to drive the electric truck revolution and our market leading position in Europe is proof that we are doing just that. Even if volumes are still low, we see rapidly growing interest, both in Europe, North America and in other parts of the world. In 2021 we have taken orders, including letters of intent to buy, for more than 1,100 trucks in over 20 countries. I'm convinced it's becoming a key competitive advantage to offer electric, zero emission transports."
Volvo Trucks have been in production since 2019, and the range is set to expand with the addition of heavy-duty all-electric models like the Volvo FH, Volvo FM, and Volvo FMX electric trucks that will take to the production line by the third quarter of this year. After that, Volvo is set to have the most complete electric truck lineup in the industry, leaving quite a few of its competitors behind for the upcoming electric revolution.
