Investment firms are flooding the commercial side of the EV industry with billions of dollars.
California is holding strong to its strict electrification targets, as it plans to have half of all California-sold heavy-duty trucks electric by 2035.
Electrifying commercial fleets will be an essential step to cleaning up port-based supply chains, but the charging infrastructure for commercial uses is currently lacking. Private equity firms are investing billions of dollars into the creation of port-based and shipping route-lined chargers in an effort to reduce emissions and make a buck or two as well.
California has long been at the forefront of emissions and environmental regulation in the US, as over a dozen states follow its strict passenger vehicle emissions guidelines. As the EV industry grows rapidly, many of these states have also consideredregarding electric adoption. But California recently took its EV policies one step further, in a move that may actually have more short-term health benefits.
California Governor Gavin Newsom set the precedent that half of all heavy-duty trucks sold in the state will be electric by 2035, with the 2020 executive order mandating all operations of medium- and heavy-duty vehicles be zero emission where feasible by 2045. And the Environmental Protection AgencyTesla is one of the entrants into the electric semi-truck market, with Pepsi being its first customer.
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