In these markets, operators can recoup the initial price difference of the electric truck in about two years.
The report examined the total cost of owning and operating trucks in nine European countries and concluded that electric trucks are already less expensive than diesel-powered ones in the Netherlands, Germany, Denmark, Sweden, France, and Belgium.
The organization said that the rise in diesel prices following the war-related surge in oil prices in Iran has enhanced the commercial viability of switching to electric trucks, even as the transition to these vehicles in Europe is still slow due to high purchase prices and a lack of infrastructure needed to charge batteries.
Oil prices rose by more than 1% on Monday, amid ongoing tensions linked to the war in Iran and concerns about oil supplies through the Strait of Hormuz.
By 00:36 GMT, Brent crude futures rose $1.32, or 1.27%, to $105.64 per barrel, while U.S. West Texas Intermediate crude increased by 70 cents, or 0.76%, to $93.11.
In contrast, preliminary data from Kepler showed that crude oil exports from major Middle Eastern producers rebounded in September to 12.8 million barrels per day, the highest level since the start of the war in February, with increased exports from Saudi Arabia and the UAE.
Shipments through the Strait of Hormuz have also recovered and are expected to reach about 7.4 million barrels per day this month, according to the data.
In the truck market, European manufacturers, including Daimler Truck, Volvo, and Scania of the Traton Group, are preparing for increasing competition from low-cost Chinese companies, with expectations that some Chinese electric trucks will be about 30% cheaper than similar European models.
The organization estimated the cost of a Chinese-made electric truck at about 210,000 euros, compared to 265,000 euros for its European counterpart, while operators in Germany can save an additional 34,000 euros over five years by choosing a Chinese-made electric truck.
