Ryder CEO: Electric vehicle technology needs an inflection point to work
May 23, 2024 For Ryder System CEO Robert Sanchez to double down on electric vehicles, there needs to be a catalyst that makes the technology more economical and operational in the commercial trucking industry. During his keynote at this year’s ACT Expo in Las Vegas, Sanchez was outspoken about how he sees electric trucks fitting into his fleet. “From our perspective, for commercial electric vehicles to work in the real world, we need breakthroughs in battery technology and expanded charging infrastructure. We need an inflection point, a credible technological breakthrough that drives mass adoption of new technologies,” Sanchez said, citing the evolution of the cell phone industry since 1984 and the launch of the Motorola DynaTAC 8000X as an example. “It weighed two and a half pounds, provided 30 minutes of talk time on a single charge, and took 10 hours to fully charge. The price of this breakthrough was $12,000 in today’s currency.” Fast forward to today, technology has…
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