Electric trucks will yield significant economic benefits to truck owners and to society as a whole. The greatest of these benefits are due to the elimination of fossil fuels. At a diesel fuel price of $3/gallon, a large Class 8 truck that uses 10,000 gallons of fuel per year would save $30,000 in fuel costs per year if converted to electric drive. Net savings, after deducting for the cost of the electricity used to recharge the batteries, would depend on prevailing electric utility rates, but would typically be between $15,000 and $20,000 per year. These savings will increase in the future as fuel costs escalate. Eventually, owing an electric truck could provide net energy cost savings of as much as $30,000 to $50,000 per year to a truck owner.

In addition to eliminating refueling costs , electric propulsion also allows the engine and fuel system to be completely removed from the vehicle. This eliminates all maintenance costs associated with these components, reduce operating weight, provides more space for battery and cargo stowage, increases overall energy efficiency, makes the vehicle run more quietly, and completely eliminates harmful emissions. Elimination of emissions qualifies many trucks for tax credits and other incentives that can be worth tens of thousands of dollars per vehicle. Electric propulsion can also reduce brake wear by as much as 90%, saving thousands of dollars more over the life of the vehicle.