Volvo Trucks Korea held a press conference on the 15th at the EV Trend Korea 2023 exhibition in Gangnam, Seoul, where it unveiled the country’s first large electric truck.
Demand for electric trucks is rapidly increasing across multiple countries. Particularly as achieving sustainability goals requires the electrification of heavy-duty trucks, which produce higher carbon emissions compared to passenger cars, there is a strong demand for the logistics and transport industry to transition towards fossil-fuel-free transportation. Global movements aimed at replacing diesel fuel, bans on diesel vehicle operations, and high taxes on carbon emissions are acting as catalysts for this electrification, leading to an acceleration in the demand for electric trucks.
In South Korea, domestic companies are also facing the social challenge of vehicle electrification, and initiatives such as the K-EV100, a zero-emission vehicle transition project promoted by the Ministry of Environment, are taking shape. In this context, Volvo Trucks believes it is the right time to promote the electrification of large trucks and aims to lead the industry by releasing electric trucks that meet various transport requirements while helping customers achieve their sustainability goals.
Volvo Trucks has established a group-level vision to reduce 100% of the carbon emissions from new vehicles sold by 2040 and to achieve net-zero emissions by 2050, with the aim of having 50% of new trucks sold worldwide by 2030 being electric. Since starting production of medium electric trucks in 2019, Volvo Trucks pioneered the mass production of large electric trucks last year, now offering a total of six electric truck models and holding the broadest product range in the industry.
Volvo Trucks has sold over 4,300 electric trucks in more than 38 countries and dominated the European market for medium electric trucks with 1,041 units sold in 2022, representing an increase of approximately 200% and capturing over 30% market share.
The Volvo FH Electric showcased at the EV Trend Korea 2023 is a large truck with a total weight of 40 tons, capable of traveling up to 300 km on a single charge. Volvo Trucks sees a variety of transport demands from urban delivery, waste collection, inter-region transport, and construction sites in South Korea transitioning to electrification. Volvo Trucks Korea has also announced its goal to achieve annual sales of 1,000 electric trucks, representing over 30% of total sales, by 2027 alongside the official launch of the electric truck.
The Volvo Electric large electric truck features a 12-speed transmission and offers the same high standards of quality as existing vehicles, with differences only in the drivetrain, ensuring that customers can purchase a high-quality electric truck.
Additionally, it can achieve an 80% state of charge (SOC) within 1.5 hours during fast charging and a maximum range of 300 km on a single charge. With a maximum battery capacity of 540 kWh, customers can choose to mount up to six battery packs depending on their transport requirements and driving distance.
In a recent driving test conducted in Germany, the Volvo FH Electric, weighing 44 tons, maintained an average speed of 80 km/h while fully loaded and traveled 343 km on a single charge. Charging overnight at the depot with a medium-speed charger for 6-12 hours can achieve 80-100% SOC. By adapting charging patterns that utilize breaks between loading/unloading and driving, it is also possible to achieve long-distance transport of over 300 km.
To facilitate the transition to electric trucks, Volvo Trucks Korea plans to provide high-performance products and systematic services to domestic customers. Furthermore, leveraging years of accumulated real-world experience in the electrification sector, they will offer a comprehensive solution that includes route planning, charging environments, preventive maintenance, and battery monitoring.
Volvo Trucks has also detailed phased goals related to the establishment of charging infrastructure in Korea to accelerate the transition to electric trucks. The first step is to install charging infrastructure at 31 Volvo Trucks service network locations across the country.
The second phase involves forming strategic partnerships with charging service providers to establish commercial vehicle charging facilities focused on key port and logistics centers, which are truck-dense areas. Finally, they plan to actively consult with the government to promote the expansion of dedicated ultra-fast charging infrastructure for commercial vehicles.
Additionally, as part of Volvo Group’s sustainability goals, Volvo Trucks Korea expects to invest about 6 billion KRW to complete the installation of solar power facilities at three direct service centers in Korea by the end of this year, aiming to reduce about 574 tons of carbon dioxide annually.
Moreover, Volvo Trucks Korea has signed an agreement with Volvo Financial Services Korea to offer competitive tailored financial solutions for customers purchasing high-cost large electric trucks, including comprehensive financial products that support insurance, installation costs for charging stations, and tire purchases.
Johan Selven, Vice President of Global Sales at Volvo Trucks International, who visited for this event, stated, “The transition to electrification is not a matter of choice but a demand of the times, demonstrating Volvo Trucks’ commitment to carbon reduction as well as people and safety. Volvo Trucks will spare no effort to fulfill its social responsibility as a leading commercial vehicle manufacturer in terms of sustainability for future generations.”
Park Kang-seok, CEO of Volvo Trucks Korea, remarked, “Maximizing the benefits of electric trucks, such as CO2 reduction and environmental protection, is not achievable by any single effort alone. Achieving sustainability in the truck industry requires changes and substantial support from various sectors, including charging infrastructure, positive public perception, and policy support in the logistics industry. We will fulfill our responsibilities and roles to lead the next-generation logistics era, marking the launch of the large electric truck in Korea as a significant step forward.”
Meanwhile, Volvo Trucks also unveiled the ‘FM Electric’ electric truck at the Samsung SDI booth during the ‘InterBattery 2023’ exhibition held alongside the EV Trend Korea 2023. This vehicle is equipped with over 28,000 cylindrical batteries from Samsung SDI, featuring a high-nickel cathode material with a nickel content of 91%, designed for high output and energy density suitable for commercial trucks.
Lee Sang-jin daedusj@autodiary.kr