Daimler Truck sees electric trucks costs staying high, FT says

This post was originally published on this site

(Reuters) – The chief executive of Daimler (OTC:DDAIF) Truck said electric truck costs would “forever be higher” than those using combustion engines, the Financial Times reported on Sunday, as Russia’s invasion of Ukraine added to rising raw material costs.

Martin Daum told the newspaper that governments needed to help make up the difference in the cost of the extra materials used in battery-powered vehicles. “Without any subsidies . . . the price of an (electric) truck will always, forever be higher than a (combustion engine] truck,” he said.