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US truck company offers monthly subscriptions for electric trucks

US truck company offers monthly subscriptions for electric trucks
US truck company offers monthly subscriptions for electric trucks

Trucking manufacturer Mack Trucks is offering customers a monthly subscription and a pay-as-you-go mileage program on medium-duty electric trucks. The ElectriFi Subscription may address some concerns that trucking and logistics companies may have about the high cost involved in getting an electric truck fleet off the ground. Mack Trucks also seems to be the only company offering a subscription for the use of electric trucks. 

Mack Trucks has been around since 1900 and serviced and sold trucks in nearly 30 countries worldwide. It is one of North America’s largest manufacturers of medium-duty and heavy-duty trucks, proprietary engines and transmissions. 

Companies around the world are moving towards electric vehicles (EVs) as a means to operate sustainably and reduce their carbon footprint. 

Electric truck subscription 

The initiative is in partnership with Mack Financial Services, a subsidiary of Mack Trucks. The ElectriFi Subscription allows customers to pay as they go for miles driven with chassis and body, charging, applicable incentives, physical damage insurance and maintenance costs for the term of the agreement combined into a single monthly payment. 

Mack Truck’s president Jonathan Randall says this unique solution will give customers peace of mind. The company’s vice-president George Fotopoulos adds, “ElectriFi Subscription, the other financing options and the Mack Ultra Service Contract were designed to help remove any hesitancy about financing, service and support that customers might experience as they electrify their fleets.”

In addition to the subscription, customers also receive access to 24/7 roadside assistance through Mack OneCall. 

A move towards electric trucks

Mack Trucks, which falls under the Volvo Group, introduced the Mack MD Electric in March 2023. This truck has a range of 140 miles. 

Other major companies such as MAN Trucks and Bus have also been making headway in the electric truck segment. In October the company announced it will roll out its electric truck in 2024. The battery packs for the new initiative will be produced in-house at its Nuremberg site in Germany. 

Electric truck market 

Market and Markets reports that the global electric truck market is estimated to grow substantially by 2030. “There has been a rise in demand for electric trucks in the logistics sector across EV markets worldwide. Medium and heavy-duty trucks are expected to witness growth as the use of EV trucks can improve the long-term profitability of this industry due to much lower electric charging price compared to the use of other fuels,” reads the report. 

Rental machine company Wagner Equipment Co. states in a company blog regarding the pros and cons of electric trucks states, “Electric trucks are still much more expensive than their diesel-powered counterparts, so the upfront cost of purchasing an electric truck may be prohibitive for some businesses or individuals. And, for businesses who are trying to maximize their profits, the upfront costs can be just a bit too much to bear.”

About the author

Sharl is a qualified journalist. He has over 10 years’ experience in the media industry, including positions as an editor of a magazine and Business Editor of a daily newspaper. Sharl also has experience in logistics specifically operations, where he worked with global food aid organisations distributing food into Africa. Sharl enjoys writing business stories and human interest pieces.

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