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Battery Electric Truck Production Expected to Triple in 2023
In the realm of transportation policy, Andrew Wrobel, Senior Powertrain Analyst at Escelant (Rhein Associates), highlighted that the California Air Resources Board (CARB) has approved a $2.6 billion investment plan aimed at accelerating the shift toward zero-emission vehicles. Most of the funding is directed toward cleaner trucks and buses, signaling a strong push for greener commercial transport.
Wrobel noted that battery electric truck production is expected to triple this year compared to last, but he emphasized that this growth remains modest in the broader context of the industry. Currently, electric trucks account for less than 1% of total truck production, indicating that the transition is still in its early stages.
When asked about the U.S. economic outlook, Kenny Vieth, President and Senior Analyst at ACT Research, shared insights on recent economic performance. He stated that the U.S. economy grew by 2.9% in Q4 2022, exceeding expectations and pushing full-year 2022 growth to 2.1%. This was the first quarter since the pandemic began where all economic sectors contributed positively to growth.
Vieth also mentioned that while the overall economic outlook remains largely unchanged from previous months, there has been a shift in timing regarding potential recession risks. Although a mild recession is still anticipated, it is now more likely to be influenced by political factors, such as the ongoing debt ceiling debates in Washington, D.C., rather than an immediate downturn in the first half of 2023.
ACT Research and Rhein Associates have jointly released the North American on-highway engine forecast, which provides detailed insights into power-source activity for commercial vehicles with gross vehicle weights (GVWs) between 5 and 8. The report includes five-year projections of engine volumes and product trends, aligning with ACT Research’s monthly NA commercial vehicle forecasts. This data serves as a valuable resource for companies involved in the commercial vehicle engine supply chain, offering critical information on engine OEMs and their suppliers.
Rhein Associates is a leading provider of market intelligence on North American commercial vehicle and off-highway powertrains. Known for its comprehensive and accurate databases, analysis, and insights, the firm offers in-depth coverage of both on-road and off-road sectors, including marine, industrial, agricultural, and electrification markets. Rhein Associates publishes *The Rhein Report*, a weekly and monthly publication that delivers timely market analysis and news. Its powertrain forecast database spans from 2010 to 2033, covering both on-highway and off-highway applications. For more information, visit [www.rheinassociates.com](http://www.rheinassociates.com).
ACT Research is a trusted source of data, market analysis, and forecasts for the commercial vehicle, truck, trailer, and bus industries in North America and China. Its analytical services are widely used by major manufacturers, suppliers, and financial institutions. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. The company's executives have received numerous accolades, including recognition from the National Association for Business Economics and the Lawrence R. Klein Award for accurate economic forecasting. ACT Research is also known for its top-tier economic forecasts, as recognized by the Wall Street Journal and USA Today. More details can be found at [www.actresearch.net](http://www.actresearch.net).