EV big rigs already make sense for half of the $4 trillion freight truck market, says Einride CEO
The diesel-powered trucking industry moves a majority of freight, up to 70% in the U.S. alone. In California, trucks are the largest single source of vehicle-produced air pollution that “spew 70% of the state’s smog-forming gases and 80% of carcinogenic diesel pollutants,” according to the California Air Resources Board, making the trucking sector a key part of the emissions reduction challenge.
Swedish EV trucking startup Einride has been able to so far go toe-to-toe with Tesla and its Semi in attracting top corporate clients. Both have deals with PepsiCo — Einride in the U.K. and Tesla in California.
Einride also has global shipping giant Maersk, GE Appliances, AB InBev, Bridgestone, and Beyond Meat as customers.
While many of these deals are narrow to start with, Einride founder and CEO Robert Falck says the business case already exists today for many more freight players to make the transition from diesel to electric, up to half of the industry, according to Falck.
“In the $4 trillion freight mobility space, between 40%-50% should be electric driven by the business case today,” Falck said on CNBC’s “Worldwide Exchange” in an interview on Thursday after his company ranked No. 13 on the 2023 CNBC Disruptor 50 list. “That means a $2 trillion opportunity already today,” he added.
Einride is one of three companies focused on trucking to make the 2023 Disruptor 50 list — Convoy, founded by former Amazon executives, came in at No. 47, and Flock Freight, the only certified B Corp in the freight sector, came in at No. 20. Additional logistics companies to make the list focused on technology-based solutions in transportation and climate include Flexport and Lineage Logistics.
The numbers on the EV cost equation, though, remain less than an exact science. A month ago, when appearing on CNBC to discuss the new deal with PepsiCo, Falk estimated that 30%-40% of the market could make the EV transition based on cost today. Not much has changed for the better in the math in just a month. In fact, diesel prices continue to trend lower, and haven’t been this low since before Russia invaded Ukraine, taking away a short-term advantage for the EV argument.
Diesel prices hit an all-time high last year in June of last year, and have fallen by 25% or more since then.
“In the near-term, of course, the business case for diesel becomes slightly better,” Falck said in the April interview.
But he stressed that the big brand examples of companies already signing on as clients prove the case. “They want to get the benefits of going sustainable but would not be willing to do it without a cost-competitive way,” he said on Thursday.
Diesel vs. EV economics
In many markets, independent of short-term movements in diesel prices, EV is cheaper for trucking, according to Falck, though it does depend on the cost of electricity. And as trucking hardware becomes cheaper and more widely available, the case for the EV transition will increase.
Part of the challenge is in the recharging, In September, the Department of Transportation approved EV-charging station plans for all 50 states, Washington, D.C., and Puerto Rico, covering about 75,000 miles of highways. States also have access to more than $1.5 billion in funds to help construct the chargers.
Einride’s business model, Falck stressed, and the business case for its customers, is not just about the truck manufacturing — it does not manufacture the trucks itself — but the turnkey solution that extends from the vehicle to the trailer design to the infrastructure (e.g. charging) to operations across the transportation system and its digital freight network solution.
In freight, unlike the consumer market, “it’s not about range, it’s about how to secure the business case,” he said.
Its trucks in the Class 8 tractor-trailer niche have a range of 400 miles.
Swedish electric vehicle maker Einride will supply two of its heavy-duty trucks to PepsiCo as part of an expansion into the U.K.
Einride
Independent research does support the idea of more freight going EV. Nonprofit newsgroup Cal Matters found that the total cost of buying and operating an electric semi-truck could be anywhere from $765,000 to $1.1 million, while a gas or diesel truck ranges from $919,000 to $1.2 million.
Interest in the state of California is high because the California Air Resources Board is requiring truck manufacturers to begin phasing in available heavy-duty EV technology by 2024. But in the state, which is a leader in climate technology and climate regulation — and one of the world’s largest economies — for now at least, the larger focus is on short-haul trucking.
California has set the goal of all zero-emission short-haul drayage fleets — for operations in and nearby ports — by 2035. Schneider, a truckload, intermodal and logistics service, announced its battery-electric truck (BEV) fleet back in 2021, and the first BEV arrived at a Southern California port this year.
″We’re going to be operating those in and out of railheads for intermodal customers, and so we’ll start with five taking this month and will be up to about that hundred number by the time we get through the calendar year,” Schneider CEO Mark Rourke said on CNBC’s “Squawk on the Street” in February.
Autonomous big rigs
But bigger trucks are critical for climate goals. Medium and heavy trucks make up only about 4% of vehicles in the U.S., but because of their larger size and greater travel distances, the vehicles consume more than 25% of total highway fuel and represent nearly 30% of highway carbon emissions, according to the Department of Energy.
While Einride is making bold calls about the EV transition today, Falck is cautious on one aspect of the technology that gets a lot of attention: autonomous trucking. He said Einride does see the short-haul market being a better fit today for the autonomous transition, and described the process of moving to autonomous trucks as “gradual.”
For most goods being moved by autonomous electric vehicles today, it is inside warehouses and logistics centers. “We’ve taken the same approach,” he said. “We start with manual electric and gradually introduce more and more autonomy. We’re already doing autonomous for clients, but not everywhere. We start with the simple applications, fenced-off areas … low speeds.”
“We gradually grow into this,” Falck said. “This is not just about making a truck autonomous, it’s changing the entire transport system.”
That will be measured in decades, in his option. “In 25 years, we will predominantly be electric and autonomous,” Falck said.
—CNBC’s Kaitlin Balasaygun contributed reporting.
Rush Township supervisors in Centre County, Pennsylvania, voted this week to greenlight a key permit for the Black Moshannon Solar project – a large solar development that would turn toxic former mineland into a major source of clean power.
If built, the Pennsylvania solar project would generate 265 megawatts of electricity – enough to power about 200,000 homes annually – on nearly 2,000 acres of toxic mineland. Developers deliberately chose the site, as the project is designed to reclaim land left behind by mining and fold environmental cleanup into the solar buildout.
According to project plans, the site would be restored with pollinators and pollinator-friendly ground cover planted beneath the solar panels. Developers have also committed to ongoing water quality and soil testing during construction and operations, along with soil improvements such as applying lime to help neutralize mining-related contamination and support vegetation growth.
Beyond the environmental cleanup, the project is expected to deliver a financial boost to the region. Black Moshannon Solar is projected to generate more than $5 million in tax revenue for the Phillipsburg-Osceola Area School District, along with more than $700,000 in direct tax payments to Centre County.
Environmental and energy advocates praised the township’s decision. David Masur, executive director of PennEnvironment, called the vote a model for other communities across the state. “We are hopeful that other local government officials across Pennsylvania will follow Rush Township’s lead and implement similar, much-needed solar projects all across the Keystone State.”
Jim Gregory, executive director of the Conservative Energy Network-Pennsylvania, also applauded the approval. “In 40 years, their forward-thinking decisions will be recognized as catalysts for environmental protection, public health improvements, and economic prosperity.”
Read more: Trump admin OKs $1B loan for Three Mile Island nuclear reboot
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![Genesis GV90 leaks as breathtaking ultra-luxe SUV with coach doors [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/11/Genesis-GV90-leak-coach-doors.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Genesis is gearing up to launch the stunning new flagship SUV. Ahead of its official debut, the GV90 leaked during an internal presentation, revealing our first look at the ultra-luxe electric SUV.
Genesis GV90 leak reveals coach doors and more
The GV90 is arriving as the largest, most luxurious Genesis SUV to date. Based on the Neolun Concept, the new flagship SUV will sit above the GV80 as Genesis expands into new segments.
As Genesis calls it, the “ultra-luxe, state-of-the-art SUV” stole the spotlight at the New York Auto Show last March.
It wasn’t the stunning, reductive design inspired by Korea’s moon-shaped porcelain jars or the premium Royal Indigo and Purple silk materials that caught most people’s attention at the event, but the B-pillarless coach doors.
The SUV was showcased with Rolls-Royce-like coach doors, offering a new level of luxury for Genesis. Although we’ve seen the GV90 spotted out in public testing a few times now with coach doors, we wondered if they would make it to the production model.
After the full-size SUV reportedly leaked during an internal presentation, it looks like we’ve found our answer. The Genesis GV90 leak reveals two versions: a standard model and a coach-door model.
The leaked images from our friends at ShortsCar offer our first look at the production version in full. Earlier this month, a GV90 prototype was spotted out in public with the coach doors wide open, providing a sneak peek of the interior.
From what was shown, the cabin will feature a similar layout to the concept, with high-end purple and indigo materials. The GV90 was also caught with an all-black interior, which is expected to be the standard version.
A new video from the folks over at HealerTV offers a closer look at the breathtaking interior ahead of its official debut.
The GV90 appears to retain the gear selector located near the top of the steering wheel from the Neolun concept.
Another report, from TheKoreanCarBlog, confirms the new gear selector after the first interior spy shots surfaced.
From what we’ve seen so far, the GV90 is shaping up to be a near replica of the ultra-luxe Neolun concept. Genesis has yet to announce a launch date for the GV90, but it is expected to make an official debut by the end of the year with sales starting in mid-2026.
Prices and final specs, like driving range, will be revealed closer to launch, but the Genesis GV90 is rumoured to be the first vehicle to ride on Hyundai’s new eM platform.
Hyundai said the new platform will deliver a 50% improvement in range compared to its current E-GMP-based EVs, such as the IONIQ 5. It’s also expected to offer Level 3 autonomous driving as well as other advanced driver assistance system (ADAS) features.
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Turning cheap daytime solar into electricity you can actually use at night just got a lot cheaper. A new analysis from energy think tank Ember shows that utility-scale battery storage costs have fallen to $65 per megawatt-hour (MWh) as of October 2025 in markets outside China and the US. At that level, pairing solar with batteries to deliver power when it’s needed is now economically viable.
Battery storage costs have fallen dramatically over the past two years, and the decline continues. Following a steep decline in 2024, Ember’s analysis indicates that prices continued to fall sharply again in 2025.
The findings are based on real-world data from recent battery and solar-plus-storage auctions in Italy, Saudi Arabia, and India, as well as interviews with active developers across global markets.
According to Ember, the cost of a whole, grid-connected utility-scale battery storage system for long-duration projects (four hours or more) is now about $125 per kilowatt-hour (kWh) as of October 2025. That figure applies to projects outside China and the US. Core battery equipment delivered from China costs around $75/kWh, while installation and grid connection typically add another $50/kWh.
Those lower upfront costs have pushed down the levelized cost of storage (LCOS) to just $65/MWh. Ember’s calculation reflects real-world assumptions around financing costs, system lifetime, efficiency, and battery degradation.
Cheaper hardware isn’t the only reason storage costs are falling. Longer battery lifetimes, higher efficiencies, and lower financing costs, helped by clearer revenue models such as auctions, have all contributed to the sharp drop in LCOS. Ember has published a live calculator alongside the report, allowing users to estimate LCOS using their own assumptions.
Why this matters comes down to how solar is actually used. Most solar power is generated during the day, so only a portion needs to be stored to make it dispatchable. Ember estimates that if half of daytime solar generation is shifted to nighttime, the $65/MWh storage cost adds about $33/MWh to the cost of solar electricity.
With the global average price of solar at $43/MWh in 2024, adding storage would bring the total cost to about $76/MWh, delivering power in a way that better matches real demand.
As Ember global electricity analyst Kostantsa Rangelova put it, after a 40% drop in battery equipment costs in 2024, the industry is now on track for another major fall in 2025. The economics of battery storage, she said, are “unrecognizable,” and the industry is still adjusting to this new reality.
“Solar is no longer just cheap daytime electricity; now it’s anytime dispatchable electricity. This is a game-changer for countries with fast-growing demand and strong solar resources,” Rangelova added.
Together, solar and battery storage are increasingly emerging as a scalable, secure, and affordable foundation for future power systems.
Read more: EIA: Solar + storage soar as fossil fuels stall through September 2025
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