Techno-Economical Analysis of Heavy Duty Electric Vehicle

Abstract

This paper examines the necessity, critical challenges and opportunities in transitioning to zero-emission heavy-duty vehicles (HDVs). The analysis explores the technical aspects of current battery technologies, highlighting the energy density and comparing different battery technologies. We compare prevalent lithium-ion chemistries such as NMC, NCA, and LFP evaluating their respective advantages in energy density and cycle life. Through a total cost of ownership (TCO) framework, we demonstrate how battery technology advancements, component cost reductions, and operational savings are gradually improving the economic proposition of electric HDVs despite higher up-front costs. The study further examines how Megawatt Charging Systems (MCS), capable of power delivery above 1 MW, address critical operational constraints by enabling 10-80% charging in under 45 minutes, aligning with mandatory rest periods under EU transport regulations. Our findings suggest that the convergence of improving battery technology, expanding charging infrastructure, especially the introduction of MCS, and supportive policy environments will accelerate the trend in adoption of zero-emission HDVs, which represented only 1.5% of European road HDVs in 2023 despite recent sales growth of 54% in early 2024.