Soaring diesel prices are strengthening the business case for electric heavy goods vehicles, with UK haulier Welch Group forecasting substantial long-term savings from electrifying its fleet and opening its charging infrastructure to other operators.
New analysis from New AutoMotive estimates that the surge in diesel prices since July is adding approximately £35 million a week to UK hauliers’ fuel bills. The average forecourt price reached 199.9p per litre on 30 September, up 35p since 8 July.
For hauliers already investing in electric trucks, the rising cost of diesel is reinforcing the commercial opportunity.
Welch Group, which operates both diesel and electric HGVs, has developed its own financial model examining the economics of electrification and shared depot charging.
Its internal projections suggest that, as its electric fleet expands and charging infrastructure is shared with other operators, the modelled annual saving against a diesel-fleet comparison could reach approximately £792,000 by 2035. This is a projected operating-cost comparison, not an achieved saving or a complete vehicle lifetime cost assessment.
Chris Welch, (above) CEO of Welch Group, said, “Diesel prices are proving that our decision to go electric was the right one. We’re already seeing substantial savings on energy costs compared with diesel, and every increase at the pump makes the economics of electrification more compelling.
“But the opportunity goes much further. By opening our charging hubs to other operators, we can spread the cost of infrastructure and make our own electric trucks progressively cheaper to run. Our internal modelling suggests the savings could become increasingly significant as our fleet and charging network grow.
“This is about running a more efficient and competitive haulage business. Cutting emissions matters, but so does protecting our margins. The more electric trucks we put on the road, the greater the opportunity to do both.”
Welch Group’s internal model projects that the all-in cost of charging its own electric trucks could fall from approximately 42p per kWh in 2026 to 9.1p per kWh by 2035, assuming its planned fleet growth and shared charging activity materialise. The estimates include electricity and allocated infrastructure costs, and are sensitive to future energy prices, charging demand and utilisation.
Welch Group’s projections illustrate the potential for shared charging infrastructure to become a commercial asset for hauliers, rather than simply an operating cost.
By allowing other fleets to use depot charging facilities, operators could generate additional revenue, improve infrastructure utilisation and reduce the effective cost of charging their own vehicles.
