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Duke Energy says ready to buy 500 electric trucks

Published 11/07/2016, 11:24 AM
Duke Energy says ready to buy 500 electric trucks
DUK
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  • Electric utilities have clear reasons to support the adoption of electric vehicles but have been slow to electrify their own truck fleets, but that may be starting to change, as Duke Energy (DUK +0.7%) signs a letter of interest to buy 500 electric trucks from Workhorse Group, a Cincinnati-based company that plans to start selling plug-in electric pickup trucks in 2018.
  • Companies have been slow to buy the vehicles for utility use because they say the specialized models they needed have not been readily available, and no major automaker has announced plans to sell an extended-range electric truck like the kind Workhorse is building.
  • The infrastructure needed for electric vehicles to gain market share is growing, with government support; the Obama administration last week announced plans to turn 48 major highway routes in 35 states into vehicle-charging corridors, starting next year.

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