Volvo is building a line of electric commercial semi trucks

Volvo Group Introduces All-Electric, Heavy-Duty Truck for European Market

It has 175 continuous horsepower, with 248 at its peak. At its maximum capacity with six batteries, the FL Electric is capable of a 300 kilometer (186 mile) range from a 300 kilowatt-hour power pack, which can be charged from empty to full in less than two hours on a DC charger, and overnight in 10 hours on an AC charger.

The truck is called the the Volvo FL Electric, and it is the company's first all-electric commercial truck. Sales and series production of the new model are slated to begin in Europe next year.

The truck can be used in indoor terminals and environmental zones.

There is considerable market interest in electric trucks. With such a short range, Volvo envisions use in urban cities to replace vehicles like trash trucks. Their low noise level creates opportunities for doing more work at night, thus reducing traffic on the roads during the day.

Shipping giant United Parcel Service (UPS) placed the largest Semi order to date, reserving 125 of Tesla's electric trucks in December.

Pointstate Capital LP Decreased Its Bank Amer Corp (Call) (BAC) Stake
The firm has "Buy" rating given on Tuesday, July 21 by Jefferies. (NASDAQ:GOGO) on Wednesday, August 31 to "Buy" rating. The rating was maintained by Credit Suisse on Friday, March 16 with "Outperform". (NYSE:TWTR) for 34.71 million shares.

Head of strategy for the Volvo FL and FE Jonas Odermalm says the company is also working with suppliers of charging equipment to find the best way of meeting customer needs regarding driving cycles, load capacity, uptime, range and other parameters.

Backing the Volvo Trucks offer is the Volvo Group's accumulated expertise in electrified transport solutions, the company said in a press release, noting that sister company Volvo Buses has sold more than 4000 electrified buses since 2010.

The FL Electric is designed for urban distribution, refuse collection and other applications, and has a gvw of 16 tonnes.

Volvo is looking to take "a holistic view of electrification" when it comes to the vehicles, taking into consideration, for example, how the raw materials for the batteries are extracted.

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