Real estate investors surge into electric truck charging

Big developers and startups have plenty of money to invest

Source: FreightWaves

Installations like this rendering of a Forum Mobility Electric Truck Charging Depot are becoming more common as big real estate investments pour in. (Image: Forum Mobility)

California passed the Advanced Clean Trucks and Advanced Clean Fleets regulations requiring a transition from diesel to electricity. Generous incentives for buying electric trucks, installing charging stations and building utility infrastructure lessen the enormous cost burden along with credits under the state’s Low Carbon Fuel Standard.

Large fleets saw California’s rules coming. Schneider recently opened a 4.8-megawatt charging facility in El Monte, east of Los Angeles. It is capable of charging 32 Class 8 trucks at one time. NFI Industries expects to bring a similar facility online in Ontario later this year. Both facilities are private, though they received significant financial help from state and local governments.

Read more here.

Funding Partners

JETSI is jointly financed by California Air Resources Board and California Energy Commission ($26.98 million), MSRC ($8 million), and South Coast AQMD ($5.4 million), with an additional $21.7 million from Port of Long Beach, Port of Los Angeles, Southern California Edison, NFI, and Schneider. JETSI is part of California Climate Investments, a statewide program that puts billions of cap-and-trade dollars to work reducing greenhouse gas emissions, strengthening the economy, and improving public health and the environment, particularly in disadvantaged communities.