Bloomberg reporters discuss US trade rules in China, Brad Stone dives into Trump's interview, and a financial advisor shares market insights. Plus, analysis on the EV industry, market dynamics, and potential impact of the US election on different sectors.
Commercial fleets are increasingly adopting electric vehicles due to lower operating costs and favorable total cost of ownership.
Regional variations in EV demand exist, with the US showing rapid growth in adoption, Europe preferring different EV types, and China presenting a unique market landscape.
Deep dives
Growing Demand for EVs in Commercial Market
The demand for electric vehicles (EVs) in the commercial market is increasing, driven by fleets recognizing favorable total cost of ownership and improving infrastructure. Fleets find the economic benefits of EVs compelling due to lower operating costs compared to internal combustion vehicles, leading to a surge in EV commercial adoption.
Total Cost of Ownership Consideration in Fleet Decisions
Commercial fleets are making decisions based on the total cost of ownership (TCO), which includes factors beyond acquisition costs. The usage patterns of commercial vehicles, where they are actively used most of the time, make electric vehicles economically advantageous due to lower operating expenses. EVs offer lower overall costs, driving adoption among commercial fleet operators.
Increasing Demand for Electric Trucks in the US Market
In the US market, there is a notable increase in demand for electric trucks, notably in the commercial space. The readiness of fleet customers to transition to electric trucks is driven by the strong economic case offered by EVs, particularly in the medium-duty sector. This growing demand is further supported by the development of necessary charging infrastructure.
Regional Differences in EV Adoption
Regional variations exist in the demand for electric vehicles, with differing preferences in markets such as the US, Europe, and China. The US market is witnessing rapid growth in EV adoption, particularly in the commercial sector. Europe shows demand for different types of EV vehicles compared to the US, and China presents a distinct market landscape for electric vehicle sales and adoption.
Enda Curran, Bloomberg Global Economy Reporter, discusses the U.S warning allies of tougher trade rules in China. Brad Stone, Bloomberg Businessweek Editor, discusses Bloomberg Businessweek's interview with former President Donald Trump. Sarah Ponczek, Financial Advisor at UBS Private Wealth Management, discusses her outlook for the markets. Nathan Dean, Bloomberg Intelligence Senior Policy Analyst, discusses his most recent U.S election research. Tali Miller, Chief Business Officer, at REE Automotive, discusses the state of the EV industry and recent company news.