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Daily Newsletter

02 November 2023

Daily Newsletter

02 November 2023

Daimler Truck’s RIZON gets green light for all US states

Electric truck brand achieves full approval for nationwide sales

Dani Cole November 02 2023

RIZON, the newest brand of Daimler Truck AG that launched in May this year, has achieved full approval in the US.

This allows for the sale of its class 4 and 5 medium-duty electric trucks throughout all the states.

The first deliveries of the vehicles are set to start in Q4 of 2023 through dealer networks in California.

Customers in this state are being offered a $60,000 baseline incentive per vehicle through the California Air Resource Board’s (CARB) Hybrid and Zero-emission Truck and Bus Voucher Incentive Project (HVIP). 

RIZON trucks are exclusively distributed by Velocity EV and are suited to urban and last-mile deliveries with routes of up to 150 miles (240km) a day.

Four model variants are available: e18L, e18M, e16L, and the e16M.

High upfront costs could be detrimental towards the growth of the off-highway EV market

The global off-highway electric market is expected to grow at a CAGR of 17.4% by 2030, per GlobalData. Despite the strong growth, high upfront costs may pose a challenge. Due to the high capacity of these vehicles, they consume large amounts of power from a number of battery packs installed on the vehicle, whose high cost in turn adds to the cost of the vehicle, thereby increasing the initial cost. However, governments worldwide are offering subsidies and tax exemptions in order to help customers to counter the initial purchase cost.

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