Nonprofit to buy 500 electric semi trucks by 2028 in $250M deal
Maryland-based nonprofit Climate United announced its intention to spend $250 million to buy up to 500 electric semi trucks over three years in what the group is calling “the biggest single order of zero emission Class 8 trucks in the country.” First, we should state the obvious: as hard as it is to imagine a nonprofit with $250 million to spend on a fleet of 500 electric semi trucks – it’s even harder to imagine one that would need that many trucks. The plan, then, must be to do something else with the trucks. And so it is. Upon taking delivery of the zero emission trucks, Climate United intends to lease those vehicles back to trucking fleets at attractive rates, encouraging truckers that haul containers to and from California seaports to electrify somewhat sooner than later by reducing or eliminating the obstacle of BEV’s higher up-front costs compared to diesel. “High upfront costs make it difficult for independent owner-operators and small fleets to transition to all-electric,” explains Beth Bafford, CEO of Climate United. Climate United says …