A Volvo FM electric truck (Krisztian Bocsi/Bloomberg)
Holcim Ltd. plans to buy as many as 1,000 electric trucks from Volvo AB in what would be the Swedish manufacturer’s largest-ever order for battery-powered rigs.
Both companies signed a letter of intent for delivery of the vehicles between now and 2030, according to a statement May 22. The first 130 heavy-duty FH and FM electric trucks will be handed over this and next year.
Manufacturers including Volvo, Daimler Truck and Volkswagen’s Traton are marketing electric and hydrogen-powered trucks to logistics companies and industrial manufacturers seeking to reduce their fleet emissions. Switzerland’s Holcim, the world’s biggest maker of building materials, has been divesting cement activities in emerging markets to cut its CO2 output and focus on high-value businesses in Europe and the U.S.
While Volvo sees itself as the market leader in Europe and North America, electric trucks accounted for 1.3% of its first-quarter sales. Volvo is scaling up output at plants in Sweden, France and the U.S., and plans to later this year start series production at its Belgium factory.
