“Electric cars may help save the environment, but when it comes to saving money, electric trucks are where it’s at. At least, that’s the proposition from Ian Wright, one of the five original founders of Tesla and now head of his own firm, Wrightspeed.
“Family cars burn about 600 gallons a year. If you make that [car] electric you are going to add $15,000, at least, to the cost of that car and maybe only save $1,500 [in fuel]. So maybe a 10-year payback. If you go to garbage trucks they are burning maybe 14,000 gallons a year, so you can save $35,000 in fuel and $20,000 in maintenance.”
“Wrightspeed’s pitch is already attracting business, with the company securing its first significant deal with FedEx last year to convert 25 delivery trucks.”